Skyworks Solutions, Inc. (SWKS) to Distribute Quarterly Dividend of $0.70 on December 24th

Skyworks Solutions, Inc. (NASDAQ:SWKS) announced a quarterly dividend on Tuesday, November 12th,RTT News reports. Stockholders of record on Tuesday, December 3rd will be paid a dividend of 0.70 per share by the semiconductor manufacturer on Tuesday, December 24th. This represents a $2.80 annualized dividend and a dividend yield of 3.37%.

Skyworks Solutions has increased its dividend payment by an average of 11.4% per year over the last three years and has increased its dividend every year for the last 11 years. Skyworks Solutions has a payout ratio of 44.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Skyworks Solutions to earn $6.82 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 41.1%.

Skyworks Solutions Stock Down 4.4 %

Shares of SWKS stock opened at $83.18 on Thursday. The stock’s fifty day moving average price is $95.79 and its 200 day moving average price is $100.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29. Skyworks Solutions has a 1-year low of $82.13 and a 1-year high of $120.86. The company has a market cap of $13.29 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 3.95 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.03. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.73%. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.95 earnings per share. On average, research analysts expect that Skyworks Solutions will post 5.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Reza Kasnavi sold 1,843 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the sale, the senior vice president now directly owns 17,455 shares in the company, valued at $1,875,888.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the transaction, the senior vice president now owns 15,960 shares in the company, valued at $1,404,639.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Reza Kasnavi sold 1,843 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the sale, the senior vice president now owns 17,455 shares of the company’s stock, valued at $1,875,888.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,684 shares of company stock worth $3,232,333. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Bank of America lifted their price objective on shares of Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 31st. Morgan Stanley dropped their price target on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Robert W. Baird lifted their target price on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $101.59.

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.