Skyworks Solutions, Inc. (NASDAQ:SWKS) Announces Quarterly Dividend of $0.70

Skyworks Solutions, Inc. (NASDAQ:SWKS) declared a quarterly dividend on Tuesday, November 12th,RTT News reports. Stockholders of record on Tuesday, December 3rd will be paid a dividend of 0.70 per share by the semiconductor manufacturer on Tuesday, December 24th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%.

Skyworks Solutions has increased its dividend payment by an average of 11.4% annually over the last three years and has raised its dividend every year for the last 11 years. Skyworks Solutions has a payout ratio of 44.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Skyworks Solutions to earn $5.39 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 51.9%.

Skyworks Solutions Stock Performance

SWKS stock traded down $3.08 during trading on Wednesday, reaching $83.96. 1,167,224 shares of the stock were exchanged, compared to its average volume of 2,356,049. The stock has a 50 day simple moving average of $96.17 and a 200-day simple moving average of $100.61. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $13.41 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 3.99 and a beta of 1.21. Skyworks Solutions has a twelve month low of $82.13 and a twelve month high of $120.86.

Insider Transactions at Skyworks Solutions

In other Skyworks Solutions news, SVP Robert John Terry sold 1,821 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the completion of the sale, the senior vice president now directly owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Carlos S. Bori sold 10,177 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $97.63, for a total value of $993,580.51. Following the completion of the transaction, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert John Terry sold 1,821 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $90.16, for a total value of $164,181.36. Following the sale, the senior vice president now directly owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,162 shares of company stock worth $2,306,291 over the last 90 days. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SWKS. B. Riley lowered their price target on shares of Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Bank of America upped their target price on shares of Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, July 31st. TD Cowen raised their price target on shares of Skyworks Solutions from $90.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Loop Capital began coverage on Skyworks Solutions in a report on Monday. They set a “hold” rating and a $90.00 price objective on the stock. Finally, Piper Sandler cut their target price on Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $105.29.

About Skyworks Solutions

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.