Skyworks Solutions, Inc. (SWKS) to Issue Quarterly Dividend of $0.68 on June 11th

Skyworks Solutions, Inc. (NASDAQ:SWKS) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Shareholders of record on Tuesday, May 21st will be given a dividend of 0.68 per share by the semiconductor manufacturer on Tuesday, June 11th. This represents a $2.72 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Monday, May 20th.

Skyworks Solutions has increased its dividend by an average of 11.4% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Skyworks Solutions has a payout ratio of 41.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Skyworks Solutions to earn $5.52 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 49.3%.

Skyworks Solutions Trading Down 0.5 %

NASDAQ:SWKS opened at $93.62 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.19 and a quick ratio of 3.81. The business’s 50-day simple moving average is $101.16 and its 200-day simple moving average is $101.96. Skyworks Solutions has a fifty-two week low of $85.06 and a fifty-two week high of $115.69. The stock has a market capitalization of $15.02 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 4.41 and a beta of 1.35.

Wall Street Analyst Weigh In

SWKS has been the topic of several research reports. Stifel Nicolaus cut their target price on Skyworks Solutions from $122.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Susquehanna reiterated a “neutral” rating and set a $90.00 price objective (down previously from $125.00) on shares of Skyworks Solutions in a research note on Wednesday, May 1st. Benchmark cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Piper Sandler dropped their price target on shares of Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, Mizuho cut their price target on shares of Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $106.25.

Insider Activity at Skyworks Solutions

In other news, CEO Liam Griffin acquired 11,142 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $90.00 per share, for a total transaction of $1,002,780.00. Following the transaction, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at $9,373,770. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

About Skyworks Solutions

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.