Skyworks Solutions Inc (NASDAQ:SWKS) to Post Q3 2019 Earnings of $1.21 Per Share, B. Riley Forecasts

Skyworks Solutions Inc (NASDAQ:SWKS) – Research analysts at B. Riley cut their Q3 2019 earnings per share (EPS) estimates for shares of Skyworks Solutions in a research report issued to clients and investors on Wednesday, June 5th, Zacks Investment Research reports. B. Riley analyst C. Ellis now forecasts that the semiconductor manufacturer will post earnings of $1.21 per share for the quarter, down from their prior estimate of $1.37. B. Riley currently has a “Buy” rating and a $95.00 price target on the stock. B. Riley also issued estimates for Skyworks Solutions’ Q4 2019 earnings at $1.41 EPS and FY2019 earnings at $5.67 EPS.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 EPS for the quarter, topping the consensus estimate of $1.43 by $0.04. The business had revenue of $810.40 million during the quarter, compared to analysts’ expectations of $809.52 million. Skyworks Solutions had a return on equity of 28.25% and a net margin of 29.06%. The firm’s revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.64 earnings per share.

SWKS has been the topic of several other research reports. Cowen reiterated a “market perform” rating and issued a $95.00 price target (up previously from $80.00) on shares of Skyworks Solutions in a report on Friday, May 3rd. Zacks Investment Research lowered Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Monday, March 25th. Mizuho reiterated a “hold” rating and issued a $89.00 price target on shares of Skyworks Solutions in a report on Friday, May 3rd. Macquarie lowered Skyworks Solutions from an “outperform” rating to a “neutral” rating and set a $92.80 price target on the stock. in a report on Wednesday, April 17th. Finally, DA Davidson cut their price target on Skyworks Solutions to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $86.38.

NASDAQ:SWKS traded up $0.32 on Friday, hitting $77.27. The stock had a trading volume of 3,397,732 shares, compared to its average volume of 1,985,047. The company’s fifty day moving average price is $72.48. The company has a market cap of $13.29 billion, a P/E ratio of 11.65, a PEG ratio of 1.43 and a beta of 0.91. Skyworks Solutions has a 52 week low of $60.12 and a 52 week high of $103.95.

A number of large investors have recently added to or reduced their stakes in SWKS. JOYN Advisors Inc. grew its holdings in Skyworks Solutions by 178.8% in the fourth quarter. JOYN Advisors Inc. now owns 368 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 236 shares during the last quarter. Lindbrook Capital LLC acquired a new stake in shares of Skyworks Solutions during the fourth quarter worth $25,000. Manchester Capital Management LLC acquired a new stake in shares of Skyworks Solutions during the fourth quarter worth $39,000. AdvisorNet Financial Inc lifted its stake in shares of Skyworks Solutions by 98.5% during the fourth quarter. AdvisorNet Financial Inc now owns 405 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 201 shares during the period. Finally, Doyle Wealth Management acquired a new stake in shares of Skyworks Solutions during the fourth quarter worth $30,000. 81.01% of the stock is owned by institutional investors and hedge funds.

In other Skyworks Solutions news, Director David J. Aldrich sold 10,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $85.74, for a total value of $857,400.00. Following the completion of the sale, the director now directly owns 210,922 shares of the company’s stock, valued at $18,084,452.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Peter L. Gammel sold 1,881 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $93.53, for a total value of $175,929.93. Following the completion of the sale, the chief technology officer now directly owns 9,240 shares of the company’s stock, valued at $864,217.20. The disclosure for this sale can be found here. Insiders have sold 121,714 shares of company stock worth $10,493,640 over the last quarter. 0.64% of the stock is currently owned by corporate insiders.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.52 dividend on an annualized basis and a yield of 1.97%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 22.93%.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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