Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Free Report) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 2,640,000 shares, a decline of 25.0% from the July 15th total of 3,520,000 shares. Based on an average daily trading volume, of 1,850,000 shares, the short-interest ratio is presently 1.4 days. Approximately 1.7% of the company’s stock are short sold.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the stock. Needham & Company LLC cut their price objective on shares of Skyworks Solutions from $140.00 to $130.00 in a research report on Tuesday, May 9th. UBS Group cut their price objective on shares of Skyworks Solutions from $110.00 to $105.00 in a research report on Tuesday, May 9th. Craig Hallum cut their price objective on shares of Skyworks Solutions from $130.00 to $125.00 in a research report on Tuesday, May 9th. BMO Capital Markets downgraded shares of Skyworks Solutions from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $140.00 to $100.00 in a research report on Tuesday, May 9th. Finally, StockNews.com downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.27.
View Our Latest Analysis on SWKS
Skyworks Solutions Price Performance
Skyworks Solutions stock opened at $107.24 on Friday. Skyworks Solutions has a 52-week low of $76.16 and a 52-week high of $123.69. The firm has a market capitalization of $17.09 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 0.98 and a beta of 1.27. The company has a fifty day simple moving average of $109.54 and a 200-day simple moving average of $109.80. The company has a quick ratio of 1.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.23.
Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last released its earnings results on Monday, August 7th. The semiconductor manufacturer reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.30. Skyworks Solutions had a net margin of 20.97% and a return on equity of 23.89%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $2.12 earnings per share. The company’s revenue for the quarter was down 13.1% compared to the same quarter last year. On average, equities analysts anticipate that Skyworks Solutions will post 7.36 EPS for the current fiscal year.
Skyworks Solutions Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Tuesday, August 29th will be issued a $0.68 dividend. The ex-dividend date is Monday, August 28th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.54%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.62. Skyworks Solutions’s dividend payout ratio is currently 38.21%.
Institutional Investors Weigh In On Skyworks Solutions
A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Skyworks Solutions by 0.5% in the first quarter. Vanguard Group Inc. now owns 18,027,044 shares of the semiconductor manufacturer’s stock valued at $2,402,644,000 after purchasing an additional 94,095 shares during the period. BlackRock Inc. grew its holdings in shares of Skyworks Solutions by 3.3% in the second quarter. BlackRock Inc. now owns 13,442,087 shares of the semiconductor manufacturer’s stock valued at $1,487,905,000 after purchasing an additional 433,378 shares during the period. State Street Corp grew its holdings in shares of Skyworks Solutions by 3.7% in the first quarter. State Street Corp now owns 7,677,613 shares of the semiconductor manufacturer’s stock valued at $905,804,000 after purchasing an additional 276,958 shares during the period. FMR LLC grew its holdings in shares of Skyworks Solutions by 126.4% in the first quarter. FMR LLC now owns 4,239,904 shares of the semiconductor manufacturer’s stock valued at $500,224,000 after purchasing an additional 2,367,141 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Skyworks Solutions by 74.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,160,288 shares of the semiconductor manufacturer’s stock valued at $379,127,000 after buying an additional 1,781,488 shares during the last quarter. Hedge funds and other institutional investors own 78.70% of the company’s stock.
About Skyworks Solutions
(Get Free Report)
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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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