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

Skyworks Solutions, Inc. (NASDAQ:SWKS) announced a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Investors 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 yield of 4.27%. The ex-dividend date of this dividend is Monday, February 24th.

Skyworks Solutions has raised its dividend by an average of 9.2% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Skyworks Solutions has a dividend payout ratio of 44.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Skyworks Solutions stock traded down $21.48 during trading on Thursday, reaching $65.60. The company had a trading volume of 19,986,013 shares, compared to its average volume of 3,300,402. Skyworks Solutions has a 52 week low of $62.01 and a 52 week high of $120.86. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The firm’s 50-day simple moving average is $89.79 and its 200 day simple moving average is $95.73.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results 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 13.71% and a net margin of 14.27%. Sell-side analysts forecast that Skyworks Solutions will post 4.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction on 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 of the company’s stock, valued at $1,404,639.60. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SWKS has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $80.00 target price (down previously from $120.00) on shares of Skyworks Solutions in a report on Thursday. Barclays dropped their price objective on Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research note on Thursday. Loop Capital initiated coverage on Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Skyworks Solutions currently has a consensus rating of “Hold” and an average price target of $83.78.

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.