Skyworks Solutions (NASDAQ:SWKS) Hits New 12-Month Low Following Weak Earnings

Skyworks Solutions, Inc. (NASDAQ:SWKS) reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock 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 earnings per share 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%.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.21%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 75.68%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Mizuho cut Skyworks Solutions from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $105.00 to $62.00 in a research report on Thursday. Loop Capital began coverage on shares of Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a report on Thursday. Morgan Stanley reduced their price target on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and lowered their price objective for the company from $105.00 to $62.00 in a research report on Thursday. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $84.59.

Insider Transactions at Skyworks Solutions

In related news, SVP Robert John Terry sold 10,522 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the sale, the senior vice president now owns 15,960 shares in the company, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Skyworks Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Forsta AP Fonden grew its holdings in shares of Skyworks Solutions by 27.0% during the 3rd quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer’s stock worth $3,674,000 after purchasing an additional 7,900 shares in the last quarter. Versor Investments LP lifted its holdings in shares of Skyworks Solutions by 115.3% during the 3rd quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock worth $1,966,000 after acquiring an additional 10,658 shares during the period. Van ECK Associates Corp raised its position in Skyworks Solutions by 25.3% during the third quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock valued at $152,915,000 after purchasing an additional 325,672 shares in the last quarter. Barclays PLC boosted its holdings in shares of Skyworks Solutions by 96.4% in the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock valued at $191,023,000 after purchasing an additional 949,407 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Skyworks Solutions by 20.2% during the 3rd quarter. Captrust Financial Advisors now owns 36,603 shares of the semiconductor manufacturer’s stock worth $3,615,000 after buying an additional 6,151 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions Trading Down 23.6 %

The firm has a 50-day moving average of $89.79 and a two-hundred day moving average of $95.73. The firm has a market capitalization of $10.69 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.96 and a beta of 1.14. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16.

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.