Oppenheimer Weighs in on Skyworks Solutions Inc’s Q3 2019 Earnings (NASDAQ:SWKS)

Skyworks Solutions Inc (NASDAQ:SWKS) – Equities research analysts at Oppenheimer cut their Q3 2019 earnings estimates for Skyworks Solutions in a report released on Tuesday, June 4th, according to Zacks Investment Research. Oppenheimer analyst R. Schafer now expects that the semiconductor manufacturer will post earnings per share of $1.21 for the quarter, down from their previous forecast of $1.37. Oppenheimer also issued estimates for Skyworks Solutions’ Q4 2019 earnings at $1.29 EPS and FY2019 earnings at $5.55 EPS.

A number of other brokerages have also weighed in on SWKS. DA Davidson reduced their price objective on shares of Skyworks Solutions to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. B. Riley lowered their price objective on shares of Skyworks Solutions from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. MKM Partners reduced their price objective on shares of Skyworks Solutions to $90.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Canaccord Genuity lifted their target price on shares of Skyworks Solutions from $84.00 to $99.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Argus downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $69.00 price target for the company. in a report on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $86.38.

Shares of SWKS traded up $4.64 during midday trading on Friday, reaching $81.91. The stock had a trading volume of 3,702,468 shares, compared to its average volume of 2,096,831. Skyworks Solutions has a 1-year low of $60.12 and a 1-year high of $103.95. The business has a fifty day moving average price of $72.48. The firm has a market capitalization of $13.34 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.04. Skyworks Solutions had a net margin of 29.06% and a return on equity of 28.25%. The business had revenue of $810.40 million for the quarter, compared to analyst estimates of $809.52 million. During the same period last year, the business earned $1.64 EPS. The company’s revenue was down 11.3% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Monday, May 20th. Skyworks Solutions’s dividend payout ratio is presently 22.93%.

In other Skyworks Solutions news, insider Liam Griffin sold 19,083 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $85.12, for a total transaction of $1,624,344.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Peter L. Gammel sold 1,881 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $93.53, for a total transaction 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 valued at $10,493,640 over the last ninety days. Insiders own 0.64% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Skyworks Solutions by 3.0% in the fourth quarter. BlackRock Inc. now owns 13,271,115 shares of the semiconductor manufacturer’s stock worth $889,431,000 after buying an additional 385,052 shares during the last quarter. FMR LLC lifted its stake in shares of Skyworks Solutions by 63.8% in the first quarter. FMR LLC now owns 3,517,246 shares of the semiconductor manufacturer’s stock worth $290,102,000 after buying an additional 1,370,337 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Skyworks Solutions by 6,143.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,733,478 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 2,689,698 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Skyworks Solutions by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 2,693,315 shares of the semiconductor manufacturer’s stock worth $180,234,000 after buying an additional 242,983 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Skyworks Solutions by 6.1% in the fourth quarter. Northern Trust Corp now owns 2,441,004 shares of the semiconductor manufacturer’s stock worth $163,596,000 after buying an additional 139,555 shares during the last quarter. 80.98% of the stock is owned by institutional investors and hedge funds.

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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