Skyworks Solutions (SWKS) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Skyworks Solutions (NASDAQ:SWKS) from a hold rating to a sell rating in a research report report published on Tuesday, BidAskClub reports.

A number of other equities research analysts have also recently weighed in on the company. B. Riley raised Skyworks Solutions from a neutral rating to a buy rating and raised their price target for the company from $80.00 to $90.00 in a report on Monday, January 28th. Goldman Sachs Group raised Skyworks Solutions from a neutral rating to a buy rating and set a $96.00 price target for the company in a report on Wednesday, February 6th. Mizuho reaffirmed a hold rating and set a $89.00 price target on shares of Skyworks Solutions in a report on Friday, May 3rd. TheStreet raised Skyworks Solutions from a c+ rating to a b- rating in a report on Wednesday, February 27th. Finally, Cowen raised their price target on Skyworks Solutions from $75.00 to $80.00 and gave the company a market perform rating in a report on Wednesday, February 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $89.99.

Shares of SWKS opened at $69.74 on Tuesday. Skyworks Solutions has a 1 year low of $60.12 and a 1 year high of $104.20. The company has a market capitalization of $11.94 billion, a PE ratio of 10.52, a P/E/G ratio of 1.01 and a beta of 0.70.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $809.52 million. During the same period in the prior year, the firm posted $1.64 EPS. Skyworks Solutions’s quarterly revenue was down 11.3% compared to the same quarter last year. Research analysts predict that Skyworks Solutions will post 6.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be given a $0.38 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.52 dividend on an annualized basis and a yield of 2.18%. Skyworks Solutions’s payout ratio is 22.93%.

Skyworks Solutions declared that its Board of Directors has approved a share buyback plan on Tuesday, February 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

In other Skyworks Solutions news, insider Liam Griffin sold 18,250 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $92.05, for a total value of $1,679,912.50. Following the transaction, the insider now directly owns 79,913 shares in the company, valued at approximately $7,355,991.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Peter L. Gammel sold 1,881 shares of the stock in a transaction on 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 transaction, the chief technology officer now owns 9,240 shares in the company, valued at $864,217.20. The disclosure for this sale can be found here. Insiders sold a total of 114,315 shares of company stock worth $9,981,691 over the last quarter. Corporate insiders own 0.64% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SWKS. GYL Financial Synergies LLC bought a new position in shares of Skyworks Solutions in the 1st quarter worth $878,000. Allstate Corp bought a new position in shares of Skyworks Solutions in the 1st quarter worth $316,000. Advisory Services Network LLC boosted its position in shares of Skyworks Solutions by 4.6% in the 1st quarter. Advisory Services Network LLC now owns 15,292 shares of the semiconductor manufacturer’s stock worth $1,261,000 after purchasing an additional 675 shares during the last quarter. FMR LLC boosted its position in shares of Skyworks Solutions by 63.8% in the 1st quarter. FMR LLC now owns 3,517,246 shares of the semiconductor manufacturer’s stock worth $290,102,000 after purchasing an additional 1,370,337 shares during the last quarter. Finally, BlueMountain Capital Management LLC boosted its position in shares of Skyworks Solutions by 74.1% in the 1st quarter. BlueMountain Capital Management LLC now owns 3,049 shares of the semiconductor manufacturer’s stock worth $251,000 after purchasing an additional 1,298 shares during the last quarter. Hedge funds and other institutional investors own 82.63% of the company’s stock.

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, 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.

Further Reading: Institutional Investors

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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