Skyworks Solutions (NASDAQ:SWKS) Issues Quarterly Earnings Results

Skyworks Solutions (NASDAQ:SWKS) posted its quarterly earnings results on Wednesday. The semiconductor manufacturer reported $1.76 EPS for the quarter, beating the consensus estimate of $1.53 by $0.23, Briefing.com reports. Skyworks Solutions had a net margin of 9.88% and a return on equity of 11.77%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 EPS.

Skyworks Solutions Stock Down 2.7%

Shares of NASDAQ:SWKS traded down $1.95 during midday trading on Thursday, hitting $71.51. 1,639,862 shares of the company’s stock were exchanged, compared to its average volume of 3,291,246. Skyworks Solutions has a 12 month low of $47.93 and a 12 month high of $95.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.39 and a quick ratio of 1.80. The stock has a 50 day moving average price of $75.82 and a 200-day moving average price of $72.85. The company has a market cap of $10.61 billion, a PE ratio of 28.62 and a beta of 1.21.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 18th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, November 18th. Skyworks Solutions’s payout ratio is 88.75%.

Wall Street Analyst Weigh In

SWKS has been the subject of a number of recent research reports. Citigroup upgraded Skyworks Solutions from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $66.00 to $105.00 in a research note on Wednesday, October 29th. Arete Research upgraded Skyworks Solutions to a “strong-buy” rating in a research note on Thursday, August 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Skyworks Solutions in a research note on Wednesday, October 8th. Cfra Research raised Skyworks Solutions from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, Stifel Nicolaus set a $72.00 target price on shares of Skyworks Solutions in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Skyworks Solutions currently has a consensus rating of “Hold” and a consensus price target of $83.94.

Institutional Trading of Skyworks Solutions

A number of large investors have recently made changes to their positions in SWKS. Rafferty Asset Management LLC lifted its holdings 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 stake in Skyworks Solutions in the 2nd quarter worth about $48,434,000. Quantinno Capital Management LP boosted its stake in Skyworks Solutions by 207.6% in the 2nd 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 last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Skyworks Solutions by 144.5% in the 2nd quarter. Balyasny Asset Management L.P. now owns 48,969 shares of the semiconductor manufacturer’s stock valued at $3,649,000 after purchasing an additional 158,969 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Skyworks Solutions by 64.6% in the 2nd quarter. Alliancebernstein L.P. now owns 306,105 shares of the semiconductor manufacturer’s stock valued at $22,811,000 after purchasing an additional 120,127 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

About Skyworks Solutions

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.