Oppenheimer Comments on Skyworks Solutions, Inc.’s Q2 2018 Earnings (SWKS)
Skyworks Solutions, Inc. (NASDAQ:SWKS) – Research analysts at Oppenheimer dropped their Q2 2018 earnings per share (EPS) estimates for shares of Skyworks Solutions in a research note issued to investors on Tuesday. Oppenheimer analyst R. Schafer now expects that the semiconductor manufacturer will post earnings of $1.46 per share for the quarter, down from their prior forecast of $1.49. Oppenheimer also issued estimates for Skyworks Solutions’ Q3 2018 earnings at $1.60 EPS, FY2018 earnings at $6.70 EPS and FY2019 earnings at $7.72 EPS.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Morgan Stanley boosted their target price on shares of Skyworks Solutions from $86.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, December 13th. Piper Jaffray Companies restated a “buy” rating and issued a $115.00 target price on shares of Skyworks Solutions in a report on Wednesday, December 27th. Vetr downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $114.92 target price on the stock. in a report on Monday, October 30th. Finally, Barclays boosted their target price on shares of Skyworks Solutions from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, four have given a hold rating and twenty-four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $115.93.
Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Monday, February 5th. The semiconductor manufacturer reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.09. Skyworks Solutions had a net margin of 21.72% and a return on equity of 30.21%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $1.61 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 22nd will be issued a dividend of $0.32 per share. The ex-dividend date is Wednesday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.25%. Skyworks Solutions’s payout ratio is 29.02%.
Skyworks Solutions declared that its Board of Directors has approved a share buyback program on Monday, February 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Skyworks Solutions news, VP Laura A. Gasparini sold 12,132 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $110.53, for a total value of $1,340,949.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Liam Griffin sold 15,059 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $95.09, for a total transaction of $1,431,960.31. Following the completion of the transaction, the insider now owns 62,359 shares in the company, valued at $5,929,717.31. The disclosure for this sale can be found here. Insiders have sold a total of 157,523 shares of company stock worth $16,684,175 over the last quarter. 0.49% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Financial Engines Advisors L.L.C. bought a new position in Skyworks Solutions in the 3rd quarter worth about $126,000. WFG Advisors LP grew its stake in Skyworks Solutions by 14.8% in the 2nd quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock worth $127,000 after acquiring an additional 171 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Skyworks Solutions in the 2nd quarter worth about $202,000. Round Table Services LLC bought a new position in Skyworks Solutions in the 3rd quarter worth about $204,000. Finally, Intact Investment Management Inc. bought a new position in Skyworks Solutions in the 3rd quarter worth about $204,000. Institutional investors and hedge funds own 81.77% of the company’s stock.
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About Skyworks Solutions
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
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