Cowen Reaffirms “Market Perform” Rating for Skyworks Solutions (SWKS)

Cowen restated their market perform rating on shares of Skyworks Solutions (NASDAQ:SWKS) in a report issued on Thursday, Marketbeat reports. The firm currently has a $80.00 price target on the semiconductor manufacturer’s stock, down from their previous price target of $95.00.

Several other equities research analysts also recently weighed in on SWKS. Zacks Investment Research upgraded Skyworks Solutions from a sell rating to a hold rating in a report on Friday, November 16th. Summit Redstone downgraded Skyworks Solutions to a hold rating in a report on Friday, November 9th. Loop Capital cut their price target on Skyworks Solutions to $102.00 and set a buy rating on the stock in a report on Friday, November 9th. Summit Insights downgraded Skyworks Solutions from a buy rating to a hold rating in a report on Friday, November 9th. Finally, Canaccord Genuity cut their price target on Skyworks Solutions from $115.00 to $102.00 and set a buy rating on the stock in a report on Friday, November 9th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $104.84.

Shares of NASDAQ SWKS opened at $72.77 on Thursday. Skyworks Solutions has a 1-year low of $68.58 and a 1-year high of $115.98. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 0.87 and a beta of 0.64.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.02. Skyworks Solutions had a return on equity of 30.59% and a net margin of 23.74%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the business earned $1.82 EPS. Skyworks Solutions’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts expect that Skyworks Solutions will post 6.74 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Tuesday, November 27th will be given a $0.38 dividend. The ex-dividend date of this dividend is Monday, November 26th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.09%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 22.93%.

In other Skyworks Solutions news, Director David J. Aldrich sold 5,500 shares of the stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $90.48, for a total transaction of $497,640.00. Following the completion of the sale, the director now directly owns 147,752 shares of the company’s stock, valued at approximately $13,368,600.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David J. Aldrich sold 10,000 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $91.30, for a total value of $913,000.00. Following the sale, the director now directly owns 152,252 shares of the company’s stock, valued at $13,900,607.60. The disclosure for this sale can be found here. Insiders have sold a total of 24,500 shares of company stock valued at $2,197,150 over the last ninety days. 0.47% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of SWKS. Capital International Investors acquired a new stake in Skyworks Solutions during the 3rd quarter worth approximately $326,736,000. LSV Asset Management lifted its position in Skyworks Solutions by 3,665.0% during the 3rd quarter. LSV Asset Management now owns 1,852,400 shares of the semiconductor manufacturer’s stock worth $168,031,000 after acquiring an additional 1,803,200 shares during the period. Vulcan Value Partners LLC lifted its position in Skyworks Solutions by 21.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 6,581,779 shares of the semiconductor manufacturer’s stock worth $636,129,000 after acquiring an additional 1,179,670 shares during the period. First Trust Advisors LP lifted its position in Skyworks Solutions by 31.1% during the 3rd quarter. First Trust Advisors LP now owns 1,391,837 shares of the semiconductor manufacturer’s stock worth $126,254,000 after acquiring an additional 330,404 shares during the period. Finally, Eaton Vance Management lifted its position in Skyworks Solutions by 1,024.3% during the 3rd quarter. Eaton Vance Management now owns 327,857 shares of the semiconductor manufacturer’s stock worth $29,740,000 after acquiring an additional 298,695 shares during the period. 81.96% of the stock is owned by institutional investors.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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