Skyworks Solutions (NASDAQ:SWKS) Sets New 1-Year Low After Earnings Miss

Skyworks Solutions, Inc. (NASDAQ:SWKS)’s share price reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $62.01 and last traded at $64.73, with a volume of 4694527 shares. The stock had previously closed at $87.08.

The semiconductor manufacturer reported $1.31 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.27%. Skyworks Solutions’s payout ratio is presently 75.68%.

Analyst Ratings Changes

SWKS has been the subject of a number of research analyst reports. Stifel Nicolaus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $105.00 to $62.00 in a research report on Thursday. Citigroup lifted their price objective on Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a research report on Friday, January 10th. Craig Hallum cut their price target on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a research note on Thursday. Finally, JPMorgan Chase & Co. decreased their target price 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, November 13th. Three equities research 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.com, the stock presently has an average rating of “Hold” and an average price target of $83.78.

Insider Activity

In related news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction that occurred on Monday, November 11th. The stock was 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 approximately $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

A number of hedge funds have recently bought and sold shares of SWKS. Unison Advisors LLC lifted its holdings in Skyworks Solutions by 0.6% during the third quarter. Unison Advisors LLC now owns 17,384 shares of the semiconductor manufacturer’s stock valued at $1,717,000 after purchasing an additional 110 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Skyworks Solutions by 9.3% in the third quarter. Abich Financial Wealth Management LLC now owns 1,322 shares of the semiconductor manufacturer’s stock valued at $131,000 after acquiring an additional 112 shares in the last quarter. UMB Bank n.a. increased its position in shares of Skyworks Solutions by 8.7% during the third quarter. UMB Bank n.a. now owns 1,432 shares of the semiconductor manufacturer’s stock worth $141,000 after purchasing an additional 115 shares in the last quarter. Empirical Finance LLC raised its stake in Skyworks Solutions by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 5,578 shares of the semiconductor manufacturer’s stock valued at $551,000 after purchasing an additional 121 shares during the last quarter. Finally, Waldron Private Wealth LLC lifted its holdings in Skyworks Solutions by 4.4% in the 3rd quarter. Waldron Private Wealth LLC now owns 3,182 shares of the semiconductor manufacturer’s stock valued at $314,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Stock Performance

The firm’s 50 day simple moving average is $89.37 and its 200-day simple moving average is $95.52. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.96 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.24 and a current ratio of 5.54.

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.