Skyworks Solutions (SWKS) Raised to Hold at BidaskClub
BidaskClub upgraded shares of Skyworks Solutions (NASDAQ:SWKS) from a sell rating to a hold rating in a research report released on Tuesday morning.
Several other equities analysts have also recently issued reports on SWKS. Zacks Investment Research cut Skyworks Solutions from a hold rating to a sell rating in a research note on Wednesday, January 10th. UBS Group raised Skyworks Solutions from a hold rating to a buy rating in a research note on Tuesday, February 6th. B. Riley reduced their target price on Skyworks Solutions from $131.00 to $128.00 and set a buy rating on the stock in a research note on Tuesday, February 6th. Vetr cut Skyworks Solutions from a sell rating to a strong sell rating and set a $91.21 target price on the stock. in a research note on Wednesday, February 7th. Finally, Canaccord Genuity boosted their target price on Skyworks Solutions from $115.00 to $120.00 and gave the company a buy rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $115.93.
Shares of Skyworks Solutions (SWKS) opened at $103.58 on Tuesday. Skyworks Solutions has a 12-month low of $90.53 and a 12-month high of $117.65. The firm has a market capitalization of $19,030.00, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 1.02 and a beta of 0.69.
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 paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.24%. Skyworks Solutions’s payout ratio is 29.02%.
Skyworks Solutions announced that its Board of Directors has authorized a stock buyback program on Monday, February 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, CEO Liam Griffin sold 11,285 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $109.68, for a total value of $1,237,738.80. Following the sale, the chief executive officer now directly owns 57,332 shares of the company’s stock, valued at $6,288,173.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Carlos S. Bori sold 3,745 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $109.53, for a total value of $410,189.85. Following the completion of the sale, the senior vice president now directly owns 14,723 shares in the company, valued at $1,612,610.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,028 shares of company stock worth $13,229,380. 0.49% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SWKS. BlackRock Inc. grew its stake in shares of Skyworks Solutions by 8.9% in the fourth quarter. BlackRock Inc. now owns 13,206,360 shares of the semiconductor manufacturer’s stock worth $1,253,946,000 after acquiring an additional 1,076,214 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Skyworks Solutions by 21.6% in the fourth quarter. Lazard Asset Management LLC now owns 5,616,559 shares of the semiconductor manufacturer’s stock worth $533,291,000 after acquiring an additional 998,446 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Skyworks Solutions in the fourth quarter worth $40,580,000. Old Mutual Global Investors UK Ltd. grew its stake in shares of Skyworks Solutions by 27.9% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,670,875 shares of the semiconductor manufacturer’s stock worth $170,262,000 after acquiring an additional 364,933 shares during the last quarter. Finally, APG Asset Management N.V. grew its stake in shares of Skyworks Solutions by 23.9% in the third quarter. APG Asset Management N.V. now owns 1,286,939 shares of the semiconductor manufacturer’s stock worth $131,139,000 after acquiring an additional 248,200 shares during the last quarter. 81.22% of the stock is currently owned by hedge funds and other institutional investors.
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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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