Skyworks Solutions (NASDAQ:SWKS) Stock Price Down 5.8% – What’s Next?

Skyworks Solutions, Inc. (NASDAQ:SWKS) shares dropped 5.8% during mid-day trading on Tuesday . The stock traded as low as $67.56 and last traded at $67.84. Approximately 944,232 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 2,549,168 shares. The stock had previously closed at $72.05.

Wall Street Analyst Weigh In

A number of research firms have commented on SWKS. Citigroup boosted their price objective on Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a research note on Friday, January 10th. Rosenblatt Securities reissued a “neutral” rating and set a $80.00 price objective (down previously from $120.00) on shares of Skyworks Solutions in a report on Thursday, February 6th. Mizuho cut shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $105.00 to $62.00 in a research report on Thursday, February 6th. Craig Hallum reduced their target price on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Bank of America lowered their price target on shares of Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating for the company in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.78.

Skyworks Solutions Trading Down 4.7 %

The business has a 50 day simple moving average of $79.56 and a 200-day simple moving average of $88.92. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 1.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. As a group, equities analysts expect that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Monday, February 24th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 85.89%.

Insider Activity

In related news, CEO Philip G. Brace acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were bought at an average price of $66.13 per share, for a total transaction of $661,300.00. Following the purchase, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $661,300. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Skyworks Solutions

A number of hedge funds have recently modified their holdings of SWKS. Erste Asset Management GmbH acquired a new stake in shares of Skyworks Solutions in the 3rd quarter valued at $27,000. Golden State Wealth Management LLC acquired a new position in shares of Skyworks Solutions during the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new position in shares of Skyworks Solutions in the 4th quarter worth $29,000. Picton Mahoney Asset Management acquired a new stake in shares of Skyworks Solutions in the 4th quarter worth about $33,000. Finally, Investors Research Corp raised its position in Skyworks Solutions by 167.7% in the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds own 85.43% 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.