Skyworks Solutions (NASDAQ:SWKS) Stock Price Down 5.8% – Here’s What Happened

Skyworks Solutions, Inc. (NASDAQ:SWKS) shares dropped 5.8% during mid-day trading on Tuesday . The company traded as low as $67.56 and last traded at $67.84. Approximately 944,232 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 2,549,168 shares. The stock had previously closed at $72.05.

Analyst Ratings Changes

SWKS has been the topic of several recent analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $80.00 price target (down from $120.00) on shares of Skyworks Solutions in a report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. Barclays cut their price objective on shares of Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Stifel Nicolaus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and decreased their target price for the stock from $105.00 to $62.00 in a research report on Thursday, February 6th. Finally, Argus cut Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Skyworks Solutions presently has an average rating of “Hold” and a consensus price target of $83.78.

Skyworks Solutions Price Performance

The business has a 50-day moving average price of $78.73 and a 200 day moving average price of $88.49. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 1.79 and a beta of 1.18.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. As a group, research analysts expect that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Monday, February 24th. Skyworks Solutions’s payout ratio is presently 85.89%.

Insider Activity

In related news, CEO Philip G. Brace bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average price of $66.13 per share, with a total value of $661,300.00. Following the completion of the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $661,300. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by insiders.

Institutional Trading of Skyworks Solutions

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Skyworks Solutions by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 20,341,842 shares of the semiconductor manufacturer’s stock worth $1,803,915,000 after purchasing an additional 562,783 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Skyworks Solutions by 37.5% in the 4th quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer’s stock worth $499,273,000 after purchasing an additional 1,536,289 shares during the last quarter. Vulcan Value Partners LLC increased its stake in shares of Skyworks Solutions by 29.2% in the 4th quarter. Vulcan Value Partners LLC now owns 5,290,813 shares of the semiconductor manufacturer’s stock valued at $469,162,000 after acquiring an additional 1,194,782 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Skyworks Solutions by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,098,497 shares of the semiconductor manufacturer’s stock valued at $452,135,000 after purchasing an additional 267,343 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Skyworks Solutions by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,206,855 shares of the semiconductor manufacturer’s stock worth $372,727,000 after buying an additional 63,216 shares during the period. Institutional investors own 85.43% of the company’s stock.

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.