Needham & Company LLC Reaffirms “Hold” Rating for Skyworks Solutions (NASDAQ:SWKS)

Needham & Company LLC restated their hold rating on shares of Skyworks Solutions (NASDAQ:SWKS) in a research note released on Wednesday morning, Benzinga reports.

Other research analysts have also recently issued research reports about the stock. Benchmark cut shares of Skyworks Solutions from a buy rating to a hold rating in a research report on Wednesday. KeyCorp downgraded Skyworks Solutions from an overweight rating to a sector weight rating in a research report on Monday, April 8th. Stifel Nicolaus lowered their target price on Skyworks Solutions from $122.00 to $112.00 and set a buy rating on the stock in a research report on Wednesday. B. Riley boosted their price target on Skyworks Solutions from $110.00 to $115.00 and gave the stock a neutral rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. decreased their price target on Skyworks Solutions from $120.00 to $105.00 and set a neutral rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Skyworks Solutions currently has a consensus rating of Hold and an average price target of $108.86.

Skyworks Solutions Price Performance

Shares of SWKS opened at $92.51 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.79 and a quick ratio of 3.51. The company has a market cap of $14.82 billion, a P/E ratio of 17.39, a PEG ratio of 1.67 and a beta of 1.35. Skyworks Solutions has a 12 month low of $85.06 and a 12 month high of $115.69. The stock has a fifty day moving average price of $103.64 and a 200 day moving average price of $101.82.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, topping the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm earned $2.33 earnings per share. The company’s quarterly revenue was down 9.6% on a year-over-year basis. On average, research analysts forecast that Skyworks Solutions will post 5.65 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be given a $0.68 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $2.72 annualized dividend and a dividend yield of 2.94%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 51.13%.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, CEO Liam Griffin bought 11,142 shares of the stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the purchase, the chief executive officer now directly owns 104,153 shares in the company, valued at approximately $9,373,770. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Skyworks Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas bought a new position in Skyworks Solutions in the 1st quarter worth $27,000. Access Investment Management LLC acquired a new stake in shares of Skyworks Solutions in the first quarter valued at about $31,000. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Skyworks Solutions by 98.1% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 313 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 155 shares during the period. ST Germain D J Co. Inc. increased its stake in shares of Skyworks Solutions by 60.5% in the first quarter. ST Germain D J Co. Inc. now owns 345 shares of the semiconductor manufacturer’s stock worth $37,000 after purchasing an additional 130 shares during the period. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Skyworks Solutions during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.