Skyworks Solutions Inc (NASDAQ:SWKS) Increases Dividend to $0.44 Per Share

Skyworks Solutions Inc (NASDAQ:SWKS) announced a quarterly dividend on Wednesday, August 7th, RTT News reports. Shareholders of record on Tuesday, August 27th will be paid a dividend of 0.44 per share by the semiconductor manufacturer on Tuesday, September 17th. This represents a $1.76 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Monday, August 26th. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.38.

Skyworks Solutions has increased its dividend payment by an average of 21.5% per year over the last three years and has increased its dividend every year for the last 4 years. Skyworks Solutions has a payout ratio of 26.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Skyworks Solutions to earn $5.79 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 30.4%.

Shares of SWKS opened at $73.55 on Friday. The stock has a 50-day moving average of $80.32 and a two-hundred day moving average of $80.25. Skyworks Solutions has a one year low of $60.12 and a one year high of $94.39. The stock has a market cap of $13.21 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.64 and a beta of 1.02.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.14. Skyworks Solutions had a return on equity of 26.60% and a net margin of 26.10%. The company had revenue of $767.00 million for the quarter, compared to analysts’ expectations of $767.71 million. During the same period in the previous year, the firm posted $1.64 EPS. Skyworks Solutions’s revenue was down 14.2% compared to the same quarter last year. As a group, equities research analysts predict that Skyworks Solutions will post 5.72 EPS for the current fiscal year.

Several brokerages have recently weighed in on SWKS. B. Riley lowered their target price on Skyworks Solutions from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Argus cut Skyworks Solutions from a “buy” rating to a “hold” rating and set a $69.00 price objective on the stock. in a report on Friday, June 7th. Zacks Investment Research cut Skyworks Solutions from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 7th. BidaskClub cut Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. Finally, Craig Hallum upped their price objective on Skyworks Solutions from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. Skyworks Solutions currently has an average rating of “Hold” and an average price target of $86.40.

In other Skyworks Solutions news, insider Peter L. Gammel sold 2,250 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $73.36, for a total value of $165,060.00. Following the completion of the transaction, the insider now owns 11,490 shares in the company, valued at $842,906.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Aldrich sold 10,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $85.88, for a total transaction of $858,800.00. Following the completion of the transaction, the director now owns 213,032 shares of the company’s stock, valued at approximately $18,295,188.16. The disclosure for this sale can be found here. Insiders sold 50,749 shares of company stock worth $4,061,209 in the last three months. 0.64% of the stock is currently owned by corporate insiders.

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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