Skyworks Solutions, Inc. (NASDAQ:SWKS) to Issue $0.70 Quarterly Dividend

Skyworks Solutions, Inc. (NASDAQ:SWKS) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders of record on Monday, February 24th will be given a dividend of 0.70 per share by the semiconductor manufacturer on Monday, March 17th. This represents a $2.80 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Monday, February 24th.

Skyworks Solutions has increased its dividend by an average of 9.2% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Skyworks Solutions has a payout ratio of 44.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Skyworks Solutions to earn $5.23 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 53.5%.

Skyworks Solutions Stock Down 24.7 %

Shares of NASDAQ:SWKS traded down $21.48 during trading hours on Thursday, hitting $65.60. The company’s stock had a trading volume of 19,986,013 shares, compared to its average volume of 3,300,402. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.96 and a beta of 1.14. Skyworks Solutions has a 52 week low of $62.01 and a 52 week high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. The firm’s fifty day moving average price is $89.79 and its 200 day moving average price is $95.73.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. As a group, research analysts expect that Skyworks Solutions will post 4.45 EPS for the current year.

Analysts Set New Price Targets

SWKS has been the topic of a number of research analyst reports. Craig Hallum dropped their price target on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Morgan Stanley lowered their price target on Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday. Barclays cut their price objective on Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Citigroup lifted their target price on Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a report on Friday, January 10th. Finally, Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a report on Thursday. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.78.

Insider Activity at Skyworks Solutions

In other news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now owns 15,960 shares in the company, valued at approximately $1,404,639.60. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.

Skyworks Solutions Company Profile

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.