Skyworks Solutions, Inc. (NASDAQ:SWKS) to Issue $0.62 Quarterly Dividend

Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) declared a quarterly dividend on Monday, May 8th, RTT News reports. Investors of record on Tuesday, May 30th will be given a dividend of 0.62 per share by the semiconductor manufacturer on Tuesday, June 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, May 26th.

Skyworks Solutions has raised its dividend by an average of 12.9% per year over the last three years and has raised its dividend every year for the last 8 years. Skyworks Solutions has a payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Skyworks Solutions to earn $8.06 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 30.8%.

Skyworks Solutions Stock Performance

Skyworks Solutions stock opened at $98.79 on Thursday. The stock has a 50-day simple moving average of $107.77 and a 200 day simple moving average of $104.08. The company has a quick ratio of 1.83, a current ratio of 2.91 and a debt-to-equity ratio of 0.26. Skyworks Solutions has a 12-month low of $76.16 and a 12-month high of $123.69. The stock has a market capitalization of $15.72 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.90 and a beta of 1.27.

Skyworks Solutions (NASDAQ:SWKS – Get Rating) last released its quarterly earnings results on Monday, May 8th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.01). Skyworks Solutions had a net margin of 21.70% and a return on equity of 26.38%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. The business’s quarterly revenue was down 13.7% compared to the same quarter last year. On average, research analysts anticipate that Skyworks Solutions will post 7.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. True Wealth Design LLC bought a new stake in Skyworks Solutions in the 4th quarter valued at approximately $26,000. Fortis Capital Advisors LLC acquired a new stake in shares of Skyworks Solutions in the fourth quarter valued at approximately $27,000. Milestone Investment Advisors LLC bought a new stake in shares of Skyworks Solutions in the first quarter worth $41,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in Skyworks Solutions by 51.0% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 379 shares of the semiconductor manufacturer’s stock worth $51,000 after purchasing an additional 128 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in Skyworks Solutions in the fourth quarter valued at $48,000. 75.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SWKS shares. Mizuho dropped their price objective on Skyworks Solutions from $135.00 to $125.00 in a report on Tuesday, May 9th. Needham & Company LLC dropped their target price on shares of Skyworks Solutions from $140.00 to $130.00 in a research report on Tuesday, May 9th. KeyCorp increased their price target on Skyworks Solutions from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, February 7th. B. Riley lifted their price objective on Skyworks Solutions from $95.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 7th. Finally, Credit Suisse Group increased their target price on Skyworks Solutions from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.46.

Skyworks Solutions declared that its board has initiated a share buyback plan on Monday, February 6th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 11.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Skyworks Solutions Company Profile

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Skyworks Solutions, Inc engages in the design, development, and manufacture of proprietary semiconductor products. Its products include amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, receivers, switches, and technical ceramics.