Skyworks Solutions (NASDAQ:SWKS) Issues Earnings Results

by · The Markets Daily

Skyworks Solutions (NASDAQ:SWKS – Get Free Report) released its earnings results on Wednesday. The semiconductor manufacturer reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.23, Briefing.com reports. Skyworks Solutions had a return on equity of 11.77% and a net margin of 9.88%.Skyworks Solutions’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.55 earnings per share.

Skyworks Solutions Price Performance

SWKS stock traded up $2.23 during trading on Wednesday, hitting $74.22. The company had a trading volume of 3,077,486 shares, compared to its average volume of 3,286,697. The company has a fifty day moving average price of $75.88 and a two-hundred day moving average price of $72.84. The company has a current ratio of 2.39, a quick ratio of 1.80 and a debt-to-equity ratio of 0.09. Skyworks Solutions has a fifty-two week low of $47.93 and a fifty-two week high of $95.46. The company has a market cap of $11.02 billion, a P/E ratio of 29.86 and a beta of 1.21.

Skyworks Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 18th will be paid a dividend of $0.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $2.84 dividend on an annualized basis and a yield of 3.8%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 88.75%.

Institutional Investors Weigh In On Skyworks Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in SWKS. Rafferty Asset Management LLC grew its stake in shares of Skyworks Solutions by 52.1% during the second quarter. Rafferty Asset Management LLC now owns 2,024,243 shares of the semiconductor manufacturer’s stock worth $150,847,000 after purchasing an additional 693,379 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in shares of Skyworks Solutions during the second quarter worth about $48,434,000. Quantinno Capital Management LP boosted its position in shares of Skyworks Solutions by 207.6% during the second quarter. Quantinno Capital Management LP now owns 376,877 shares of the semiconductor manufacturer’s stock worth $28,085,000 after buying an additional 254,357 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of Skyworks Solutions by 144.5% during the second quarter. Balyasny Asset Management L.P. now owns 48,969 shares of the semiconductor manufacturer’s stock worth $3,649,000 after buying an additional 158,969 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Skyworks Solutions by 64.6% during the second quarter. Alliancebernstein L.P. now owns 306,105 shares of the semiconductor manufacturer’s stock worth $22,811,000 after buying an additional 120,127 shares during the period. Institutional investors own 85.43% of the company’s stock.

Analysts Set New Price Targets

SWKS has been the topic of several research reports. Morgan Stanley upped their price target on Skyworks Solutions from $65.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Wall Street Zen raised Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Skyworks Solutions in a report on Wednesday, October 8th. BNP Paribas Exane upped their price target on Skyworks Solutions from $71.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Cfra Research raised shares of Skyworks Solutions from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $84.22.

View Our Latest Analysis on Skyworks Solutions

Skyworks Solutions Company Profile

(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, 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.

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