Skyworks Solutions (SWKS) Cut to Neutral at Bank of America

Bank of America cut shares of Skyworks Solutions (NASDAQ:SWKS) from a buy rating to a neutral rating in a research report released on Friday morning, Marketbeat reports.

Several other brokerages have also recently weighed in on SWKS. DA Davidson decreased their price objective on shares of Skyworks Solutions to $125.00 and set a buy rating on the stock in a research note on Friday, July 20th. B. Riley upped their price objective on shares of Skyworks Solutions from $116.00 to $125.00 and gave the stock a buy rating in a research note on Friday, July 20th. Craig Hallum reaffirmed a buy rating and set a $120.00 price objective (up from $115.00) on shares of Skyworks Solutions in a research note on Friday, July 20th. Needham & Company LLC upped their price objective on shares of Skyworks Solutions from $110.00 to $118.00 and gave the stock a buy rating in a research note on Friday, July 20th. Finally, Morgan Stanley upped their price objective on shares of Skyworks Solutions from $85.00 to $87.00 and gave the stock an underweight rating in a research note on Friday, July 20th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $107.79.

Skyworks Solutions stock traded down $6.74 during trading hours on Friday, hitting $76.66. 8,436,241 shares of the stock were exchanged, compared to its average volume of 1,960,861. The stock has a market capitalization of $14.79 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 0.82 and a beta of 0.64. Skyworks Solutions has a 12 month low of $75.15 and a 12 month high of $115.98.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Skyworks Solutions had a net margin of 23.78% and a return on equity of 30.31%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.82 earnings per share. As a group, equities analysts expect that Skyworks Solutions will post 7.34 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Tuesday, November 27th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Monday, November 26th. This represents a $1.52 annualized dividend and a yield of 1.98%. Skyworks Solutions’s dividend payout ratio is currently 22.93%.

In related news, Director David J. Aldrich sold 3,000 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $88.78, for a total value of $266,340.00. Following the transaction, the director now directly owns 145,252 shares in the company, valued at $12,895,472.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David J. Aldrich sold 10,000 shares of the 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 completion of the transaction, the director now owns 152,252 shares in the company, valued at $13,900,607.60. The disclosure for this sale can be found here. Insiders sold 34,500 shares of company stock worth $3,126,050 over the last 90 days. 0.47% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. Pittenger & Anderson Inc. grew its position in Skyworks Solutions by 6.8% in the second quarter. Pittenger & Anderson Inc. now owns 8,670 shares of the semiconductor manufacturer’s stock valued at $838,000 after purchasing an additional 550 shares in the last quarter. Advisors Capital Management LLC grew its position in Skyworks Solutions by 1.4% in the third quarter. Advisors Capital Management LLC now owns 42,371 shares of the semiconductor manufacturer’s stock valued at $3,844,000 after purchasing an additional 584 shares in the last quarter. Country Club Trust Company n.a. grew its position in Skyworks Solutions by 26.7% in the second quarter. Country Club Trust Company n.a. now owns 2,796 shares of the semiconductor manufacturer’s stock valued at $270,000 after purchasing an additional 589 shares in the last quarter. Wetherby Asset Management Inc. grew its position in Skyworks Solutions by 17.8% in the second quarter. Wetherby Asset Management Inc. now owns 4,163 shares of the semiconductor manufacturer’s stock valued at $402,000 after purchasing an additional 630 shares in the last quarter. Finally, HL Financial Services LLC grew its position in Skyworks Solutions by 3.5% in the second quarter. HL Financial Services LLC now owns 18,491 shares of the semiconductor manufacturer’s stock valued at $1,787,000 after purchasing an additional 632 shares in the last quarter. 80.71% of the stock is owned by hedge funds and other institutional investors.

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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