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

Skyworks Solutions, Inc. (NASDAQ:SWKS) announced a quarterly dividend on Tuesday, July 30th, RTT News reports. Investors of record on Tuesday, August 20th will be paid a dividend of 0.70 per share by the semiconductor manufacturer on Tuesday, September 10th. This represents a $2.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Tuesday, August 20th. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68.

Skyworks Solutions has increased its dividend payment by an average of 11.4% per year 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 43.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Skyworks Solutions to earn $5.39 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 51.9%.

Skyworks Solutions Price Performance

Skyworks Solutions stock opened at $107.32 on Monday. The company has a fifty day simple moving average of $107.88 and a 200-day simple moving average of $103.10. The firm has a market capitalization of $17.14 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 4.92 and a beta of 1.23. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 52-week low of $85.06 and a 52-week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. The company had revenue of $905.50 million during the quarter, compared to analysts’ expectations of $900.41 million. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. Skyworks Solutions’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.50 EPS. On average, equities analysts anticipate that Skyworks Solutions will post 5.21 EPS for the current fiscal year.

Insider Transactions at Skyworks Solutions

In other news, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the completion of the sale, the director now directly owns 60,881 shares of the company’s stock, valued at approximately $5,495,727.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Skyworks Solutions news, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the transaction, the director now owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Reza Kasnavi sold 1,843 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $107.47, for a total transaction of $198,067.21. Following the sale, the senior vice president now owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,180 shares of company stock valued at $2,597,864. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SWKS shares. Robert W. Baird lifted their price objective on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Mizuho dropped their price objective on shares of Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Wells Fargo & Company reduced their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. UBS Group dropped their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Craig Hallum raised their price target on shares of Skyworks Solutions from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.94.

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.