Skyworks Solutions (SWKS) Reaches New 52-Week Low Following Analyst Downgrade

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Skyworks Solutions Inc (NASDAQ:SWKS)’s share price reached a new 52-week low during trading on Friday after ValuEngine downgraded the stock from a sell rating to a strong sell rating. The stock traded as low as $75.15 and last traded at $77.34, with a volume of 379233 shares traded. The stock had previously closed at $83.40.

Several other equities analysts also recently commented on the stock. CIBC restated an “outperform” rating and issued a $110.00 price target (down previously from $120.00) on shares of Skyworks Solutions in a research note on Friday. BMO Capital Markets dropped their price target on shares of Skyworks Solutions to $100.00 and set an “outperform” rating for the company in a research note on Friday. Summit Redstone downgraded shares of Skyworks Solutions to a “hold” rating in a research note on Friday. Canaccord Genuity lowered their target price on shares of Skyworks Solutions from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday. Finally, Loop Capital lowered their target price on shares of Skyworks Solutions to $102.00 and set a “buy” rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have issued a buy rating to the stock. Skyworks Solutions currently has a consensus rating of “Hold” and a consensus price target of $107.79.

In other Skyworks Solutions news, Director David J. Aldrich sold 10,000 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $92.89, for a total value of $928,900.00. Following the completion of the transaction, the director now owns 152,252 shares in the company, valued at $14,142,688.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Aldrich sold 3,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $88.78, for a total transaction of $266,340.00. Following the completion of the transaction, the director now owns 145,252 shares of the company’s stock, valued at approximately $12,895,472.56. The disclosure for this sale can be found here. Insiders sold 34,500 shares of company stock valued at $3,126,050 in the last 90 days. 0.47% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWKS. DnB Asset Management AS boosted its stake in Skyworks Solutions by 7.8% in the second quarter. DnB Asset Management AS now owns 23,616 shares of the semiconductor manufacturer’s stock valued at $2,282,000 after acquiring an additional 1,700 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in Skyworks Solutions by 46.2% in the second quarter. IFM Investors Pty Ltd now owns 8,354 shares of the semiconductor manufacturer’s stock valued at $807,000 after acquiring an additional 2,638 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Skyworks Solutions by 19.1% in the second quarter. State of Alaska Department of Revenue now owns 36,533 shares of the semiconductor manufacturer’s stock valued at $3,529,000 after acquiring an additional 5,870 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in Skyworks Solutions by 5.2% in the second quarter. Xact Kapitalforvaltning AB now owns 57,803 shares of the semiconductor manufacturer’s stock valued at $5,587,000 after acquiring an additional 2,879 shares in the last quarter. Finally, Manning & Napier Group LLC boosted its stake in Skyworks Solutions by 2.0% in the second quarter. Manning & Napier Group LLC now owns 1,451,579 shares of the semiconductor manufacturer’s stock valued at $140,293,000 after acquiring an additional 28,220 shares in the last quarter. Institutional investors own 80.71% of the company’s stock.

The company has a market cap of $14.79 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.82 and a beta of 0.64.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.02. Skyworks Solutions had a net margin of 23.78% and a return on equity of 30.31%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. Skyworks Solutions’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts anticipate that Skyworks Solutions Inc will post 6.61 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Tuesday, November 27th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Monday, November 26th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.98%. Skyworks Solutions’s payout ratio is 25.42%.

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Skyworks Solutions Company Profile (NASDAQ:SWKS)

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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