Skyworks Solutions, Inc. Declares Quarterly Dividend of $0.70 (NASDAQ:SWKS)

Skyworks Solutions, Inc. (NASDAQ:SWKS) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Stockholders of record on Monday, February 24th will be paid a dividend of 0.70 per share by the semiconductor manufacturer on Monday, March 17th. This represents a $2.80 annualized dividend and a dividend 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% per year 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 %

NASDAQ SWKS opened at $65.60 on Friday. Skyworks Solutions has a fifty-two week low of $62.01 and a fifty-two week high of $120.86. The business has a fifty day moving average price of $89.37 and a two-hundred day moving average price of $95.52. 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 stock has a market capitalization of $10.54 billion, a PE ratio of 17.73, a PEG ratio of 1.96 and a beta of 1.14.

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

Insider Activity

In other news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares in the company, valued at $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on SWKS shares. Susquehanna cut their price target on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Loop Capital assumed coverage on shares of Skyworks Solutions in a report on Monday, November 11th. They set a “hold” rating and a $90.00 target price on the stock. B. Riley downgraded shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the company from $110.00 to $65.00 in a research note on Thursday. Citigroup boosted their price objective on shares of Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a research note on Friday, January 10th. Finally, Bank of America lowered their target price on Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating for the company in a research report on Thursday. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Skyworks Solutions has an average rating of “Hold” and a consensus target price of $83.78.

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.