Skyworks Solutions (SWKS) Downgraded to “C+” at TheStreet

TheStreet cut shares of Skyworks Solutions (NASDAQ:SWKS) from a b- rating to a c+ rating in a research note issued to investors on Friday morning.

Several other research analysts have also commented on the stock. BidaskClub lowered shares of Skyworks Solutions from a hold rating to a sell rating in a report on Friday, October 26th. Morgan Stanley cut their price target on shares of Skyworks Solutions from $87.00 to $80.00 and set an underweight rating on the stock in a report on Monday, August 6th. Needham & Company LLC restated a buy rating and issued a $118.00 price target on shares of Skyworks Solutions in a report on Tuesday, August 7th. BMO Capital Markets cut their price target on shares of Skyworks Solutions to $100.00 and set an outperform rating on the stock in a report on Friday, November 9th. Finally, ValuEngine lowered shares of Skyworks Solutions from a sell rating to a strong sell rating in a report on Wednesday, September 12th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $104.84.

SWKS opened at $73.46 on Friday. Skyworks Solutions has a 1 year low of $68.58 and a 1 year high of $115.98. The company has a market capitalization of $12.92 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.89 and a beta of 0.61.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Tuesday, November 27th will be paid a dividend of $0.38 per share. 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 2.07%. Skyworks Solutions’s dividend payout ratio is currently 22.93%.

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

Several institutional investors and hedge funds have recently bought and sold shares of SWKS. Vulcan Value Partners LLC grew its position in shares of Skyworks Solutions by 21.8% during the second quarter. Vulcan Value Partners LLC now owns 6,581,779 shares of the semiconductor manufacturer’s stock worth $636,129,000 after buying an additional 1,179,670 shares in the last quarter. Capital International Investors acquired a new stake in shares of Skyworks Solutions during the third quarter worth approximately $326,736,000. Bank of New York Mellon Corp grew its position in shares of Skyworks Solutions by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 3,072,364 shares of the semiconductor manufacturer’s stock worth $296,944,000 after buying an additional 185,039 shares in the last quarter. LSV Asset Management grew its position in shares of Skyworks Solutions by 3,665.0% during the third quarter. LSV Asset Management now owns 1,852,400 shares of the semiconductor manufacturer’s stock worth $168,031,000 after buying an additional 1,803,200 shares in the last quarter. Finally, FMR LLC grew its position in shares of Skyworks Solutions by 22.6% during the third quarter. FMR LLC now owns 1,434,635 shares of the semiconductor manufacturer’s stock worth $130,136,000 after buying an additional 264,346 shares in the last quarter. Institutional investors own 80.68% of the company’s stock.

About Skyworks Solutions

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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Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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