Skyworks Solutions, Inc. (SWKS) to Distribute Quarterly Dividend of $0.68 on September 19th

Posted by on Aug 9th, 2023

Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Free Report) declared a quarterly dividend on Monday, August 7th, RTT News reports. Stockholders of record on Tuesday, August 29th will be paid a dividend of 0.68 per share by the semiconductor manufacturer on Tuesday, September 19th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.62.

Skyworks Solutions has increased its dividend payment by an average of 12.9% per year over the last three years and has raised its dividend every year for the last 8 years. Skyworks Solutions has a payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Skyworks Solutions to earn $7.87 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 31.5%.

Skyworks Solutions Trading Down 1.3 %

Shares of Skyworks Solutions stock opened at $108.76 on Wednesday. The firm has a market cap of $17.31 billion, a PE ratio of 16.76, a P/E/G ratio of 1.00 and a beta of 1.27. Skyworks Solutions has a 1 year low of $76.16 and a 1 year high of $123.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.91 and a quick ratio of 1.83. The stock has a fifty day moving average price of $109.31 and a 200-day moving average price of $109.79.

Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last issued its quarterly earnings results on Monday, August 7th. The semiconductor manufacturer reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.30. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Skyworks Solutions had a net margin of 20.97% and a return on equity of 24.20%. Skyworks Solutions’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 EPS. Equities research analysts anticipate that Skyworks Solutions will post 7.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SWKS shares. Craig Hallum reduced their target price on Skyworks Solutions from $130.00 to $125.00 in a report on Tuesday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $150.00 target price on shares of Skyworks Solutions in a report on Tuesday. UBS Group cut their price target on shares of Skyworks Solutions from $110.00 to $105.00 in a report on Tuesday, May 9th. Piper Sandler upped their price target on shares of Skyworks Solutions from $107.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Mizuho dropped their price objective on Skyworks Solutions from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.27.

Get Our Latest Report on Skyworks Solutions

Hedge Funds Weigh In On Skyworks Solutions

Several institutional investors and hedge funds have recently modified their holdings of SWKS. True Wealth Design LLC bought a new stake in shares of Skyworks Solutions during the fourth quarter valued at approximately $26,000. Fortis Capital Advisors LLC purchased a new position in shares of Skyworks Solutions in the fourth quarter worth $27,000. Milestone Investment Advisors LLC bought a new position in shares of Skyworks Solutions during the first quarter valued at $41,000. ICA Group Wealth Management LLC purchased a new stake in shares of Skyworks Solutions during the fourth quarter valued at $48,000. Finally, Global Wealth Management Investment Advisory Inc. increased its holdings in Skyworks Solutions by 51.0% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 379 shares of the semiconductor manufacturer’s stock worth $51,000 after buying an additional 128 shares in the last quarter. 78.70% of the stock is currently owned by institutional investors.

Skyworks Solutions Company Profile

(Get Free Report)

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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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Dividend History for Skyworks Solutions (NASDAQ:SWKS)

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