Skyworks Solutions (SWKS) Downgraded to “Sell” at ValuEngine

ValuEngine downgraded shares of Skyworks Solutions (NASDAQ:SWKS) from a hold rating to a sell rating in a research report sent to investors on Friday morning, ValuEngine reports.

SWKS has been the topic of a number of other research reports. TheStreet raised Skyworks Solutions from a c+ rating to a b- rating in a research report on Wednesday, February 27th. Cowen reissued a market perform rating and set a $95.00 price target (up previously from $80.00) on shares of Skyworks Solutions in a research report on Friday, May 3rd. Zacks Investment Research downgraded Skyworks Solutions from a hold rating to a sell rating in a research report on Monday, March 25th. BidaskClub raised Skyworks Solutions from a hold rating to a buy rating in a research report on Wednesday, February 13th. Finally, Mizuho reissued a hold rating and set a $89.00 price target on shares of Skyworks Solutions in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $90.37.

SWKS stock opened at $70.41 on Friday. Skyworks Solutions has a twelve month low of $60.12 and a twelve month high of $104.20. The firm has a market capitalization of $12.16 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.01 and a beta of 0.70.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.04. Skyworks Solutions had a return on equity of 28.25% and a net margin of 29.06%. The business had revenue of $810.40 million for the quarter, compared to the consensus estimate of $809.52 million. During the same quarter in the prior year, the company earned $1.64 EPS. The business’s revenue was down 11.3% compared to the same quarter last year. As a group, sell-side analysts expect that Skyworks Solutions will post 6.11 EPS for the current year.

Skyworks Solutions announced that its board has approved a share repurchase plan on Tuesday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Monday, May 20th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 22.93%.

In other Skyworks Solutions news, insider Peter L. Gammel sold 2,351 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $82.81, for a total value of $194,686.31. Following the completion of the sale, the insider now directly owns 11,121 shares in the company, valued at $920,930.01. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Peter L. Gammel sold 1,881 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $93.53, for a total value of $175,929.93. Following the completion of the sale, the chief technology officer now owns 9,240 shares of the company’s stock, valued at $864,217.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,315 shares of company stock valued at $9,981,691. 0.64% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. JOYN Advisors Inc. raised its position in Skyworks Solutions by 178.8% during the fourth quarter. JOYN Advisors Inc. now owns 368 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 236 shares in the last quarter. Lindbrook Capital LLC purchased a new position in Skyworks Solutions during the fourth quarter valued at approximately $25,000. Manchester Capital Management LLC purchased a new position in Skyworks Solutions during the fourth quarter valued at approximately $39,000. AdvisorNet Financial Inc raised its position in Skyworks Solutions by 98.5% during the fourth quarter. AdvisorNet Financial Inc now owns 405 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 201 shares in the last quarter. Finally, Doyle Wealth Management purchased a new position in Skyworks Solutions during the fourth quarter valued at approximately $30,000. Institutional investors own 82.63% 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, antenna tuners, 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 locked loops, phase shifters, 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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