Skyworks Solutions, Inc. (NASDAQ:SWKS) Plans $0.68 Quarterly Dividend

Skyworks Solutions, Inc. (NASDAQ:SWKS) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Stockholders of record on Tuesday, May 21st will be given a dividend of 0.68 per share by the semiconductor manufacturer on Tuesday, June 11th. This represents a $2.72 annualized dividend and a dividend yield of 2.55%.

Skyworks Solutions has increased its dividend by an average of 11.4% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. Skyworks Solutions has a dividend payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Skyworks Solutions to earn $6.80 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 40.0%.

Skyworks Solutions Stock Down 1.2 %

Shares of SWKS stock traded down $1.27 on Tuesday, hitting $106.59. The company’s stock had a trading volume of 3,487,788 shares, compared to its average volume of 2,308,095. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.02 and a quick ratio of 3.51. Skyworks Solutions has a fifty-two week low of $85.06 and a fifty-two week high of $115.69. The firm’s fifty day moving average price is $104.15 and its 200-day moving average price is $101.91. The stock has a market capitalization of $17.08 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.93 and a beta of 1.37.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a net margin of 19.48% and a return on equity of 18.68%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business earned $2.33 EPS. Skyworks Solutions’s quarterly revenue was down 9.6% compared to the same quarter last year. Research analysts anticipate that Skyworks Solutions will post 5.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SWKS shares. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of Skyworks Solutions in a research note on Thursday, January 4th. B. Riley lifted their price objective on shares of Skyworks Solutions from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. StockNews.com lowered shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Susquehanna boosted their target price on shares of Skyworks Solutions from $120.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, KeyCorp lowered shares of Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Skyworks Solutions has an average rating of “Hold” and an average price target of $115.10.

About Skyworks Solutions

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.