Skyworks Solutions (NASDAQ:SWKS) Trading Down 5.8% – Here’s What Happened

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

Analyst Ratings Changes

A number of brokerages recently weighed in on SWKS. Barclays dropped their price target on Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Stifel Nicolaus downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and reduced their price target for the company from $105.00 to $62.00 in a research report on Thursday, February 6th. Craig Hallum lowered their price objective 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. Citigroup lifted their price target on Skyworks Solutions from $72.00 to $84.00 and gave the company a “sell” rating in a report on Friday, January 10th. Finally, Morgan Stanley reduced their price objective on Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $83.78.

Skyworks Solutions Stock Down 4.7 %

The company has a quick ratio of 4.73, a current ratio of 5.94 and a debt-to-equity ratio of 0.16. 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 cap of $11.04 billion, a P/E ratio of 21.08, a PEG ratio of 1.79 and a beta of 1.18.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. Analysts expect that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a $0.70 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $2.80 annualized dividend and a yield of 4.08%. Skyworks Solutions’s dividend payout ratio is 85.89%.

Insider Activity

In other news, CEO Philip G. Brace purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were purchased at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the purchase, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $661,300. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by company insiders.

Institutional Trading of Skyworks Solutions

Several institutional investors have recently modified their holdings of SWKS. Principal Financial Group Inc. increased its holdings in Skyworks Solutions by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 200,873 shares of the semiconductor manufacturer’s stock valued at $19,840,000 after buying an additional 6,302 shares during the period. Versor Investments LP lifted its stake in Skyworks Solutions by 115.3% during the third quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock worth $1,966,000 after purchasing an additional 10,658 shares during the period. WCM Investment Management LLC lifted its stake in Skyworks Solutions by 287.3% during the third quarter. WCM Investment Management LLC now owns 11,491 shares of the semiconductor manufacturer’s stock worth $1,136,000 after purchasing an additional 8,524 shares during the period. Apollon Wealth Management LLC boosted its holdings in Skyworks Solutions by 20.3% during the third quarter. Apollon Wealth Management LLC now owns 3,003 shares of the semiconductor manufacturer’s stock valued at $297,000 after purchasing an additional 506 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Skyworks Solutions in the 3rd quarter worth approximately $380,000. 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.