Skyworks Solutions Inc (NASDAQ:SWKS) Announces Dividend Increase – $0.44 Per Share

Skyworks Solutions Inc (NASDAQ:SWKS) announced a quarterly dividend on Wednesday, August 7th, RTT News reports. Investors of record on Tuesday, August 27th will be given a dividend of 0.44 per share by the semiconductor manufacturer on Tuesday, September 17th. This represents a $1.76 dividend on an annualized basis and a yield of 2.20%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.38.

Skyworks Solutions has raised its dividend payment by an average of 21.5% annually over the last three years and has increased its dividend every year for the last 4 years. Skyworks Solutions has a dividend payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Skyworks Solutions to earn $6.15 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 24.7%.

NASDAQ SWKS traded up $2.24 during trading hours on Wednesday, reaching $79.90. 2,908,316 shares of the company’s stock were exchanged, compared to its average volume of 2,048,031. The business’s 50-day moving average price is $80.31. Skyworks Solutions has a one year low of $60.12 and a one year high of $96.25. The firm has a market capitalization of $13.41 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.48 and a beta of 1.02.

In related news, Director David J. Aldrich sold 10,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $85.88, for a total value of $858,800.00. Following the transaction, the director now owns 213,032 shares in the company, valued at $18,295,188.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Aldrich sold 5,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $81.91, for a total value of $409,550.00. Following the completion of the transaction, the director now owns 208,032 shares in the company, valued at approximately $17,039,901.12. The disclosure for this sale can be found here. Insiders have sold 52,000 shares of company stock valued at $4,177,703 in the last three months. Insiders own 0.64% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Craig Hallum reaffirmed a “buy” rating and set a $85.00 price target (down from $105.00) on shares of Skyworks Solutions in a research note on Monday, June 3rd. BidaskClub raised Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Barclays downgraded Skyworks Solutions from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $75.00 to $80.00 in a report on Thursday, July 18th. DA Davidson cut their price objective on Skyworks Solutions to $95.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, UBS Group cut their price objective on Skyworks Solutions from $93.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $86.36.

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.

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Dividend History for Skyworks Solutions (NASDAQ:SWKS)

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