Skyworks Solutions (NASDAQ:SWKS) Cut to Hold at Benchmark

Benchmark downgraded shares of Skyworks Solutions (NASDAQ:SWKS) from a buy rating to a hold rating in a research note published on Wednesday morning, MarketBeat reports.

SWKS has been the topic of a number of other reports. B. Riley raised their price objective on shares of Skyworks Solutions from $110.00 to $115.00 and gave the stock a neutral rating in a research note on Wednesday, January 31st. Susquehanna reaffirmed a neutral rating and issued a $90.00 price objective (down previously from $125.00) on shares of Skyworks Solutions in a research report on Wednesday. KeyCorp downgraded Skyworks Solutions from an overweight rating to a sector weight rating in a research report on Monday, April 8th. Rosenblatt Securities reaffirmed a buy rating and issued a $130.00 price target on shares of Skyworks Solutions in a research note on Wednesday, January 31st. Finally, TD Cowen cut shares of Skyworks Solutions from a buy rating to a hold rating and lowered their price objective for the company from $125.00 to $90.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $108.86.

Skyworks Solutions Trading Up 3.1 %

Shares of SWKS opened at $92.51 on Wednesday. Skyworks Solutions has a fifty-two week low of $85.06 and a fifty-two week high of $115.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.51 and a current ratio of 2.79. The company’s fifty day moving average is $103.64 and its 200 day moving average is $101.82. The stock has a market capitalization of $14.82 billion, a PE ratio of 17.39, a P/E/G ratio of 1.67 and a beta of 1.35.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, topping the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business posted $2.33 earnings per share. The firm’s revenue was down 9.6% on a year-over-year basis. Sell-side analysts expect that Skyworks Solutions will post 5.65 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.94%. The ex-dividend date is Monday, May 20th. Skyworks Solutions’s dividend payout ratio is currently 51.13%.

Insider Buying and Selling at Skyworks Solutions

In related news, CEO Liam Griffin bought 11,142 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $90.00 per share, with a total value of $1,002,780.00. Following the completion of the acquisition, the chief executive officer now directly owns 104,153 shares in the company, valued at $9,373,770. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Skyworks Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Skyworks Solutions by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,656,578 shares of the semiconductor manufacturer’s stock worth $2,097,372,000 after acquiring an additional 123,564 shares during the period. Victory Capital Management Inc. grew its holdings in Skyworks Solutions by 3.4% in the third quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock valued at $407,474,000 after purchasing an additional 136,188 shares during the period. Pzena Investment Management LLC increased its position in shares of Skyworks Solutions by 27.5% in the first quarter. Pzena Investment Management LLC now owns 3,429,148 shares of the semiconductor manufacturer’s stock valued at $371,445,000 after buying an additional 740,048 shares in the last quarter. Invesco Ltd. increased its position in shares of Skyworks Solutions by 11.8% in the third quarter. Invesco Ltd. now owns 3,035,245 shares of the semiconductor manufacturer’s stock valued at $299,245,000 after buying an additional 321,243 shares in the last quarter. Finally, FIL Ltd raised its stake in shares of Skyworks Solutions by 2.4% during the 4th quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after buying an additional 64,389 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.