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

Skyworks Solutions, Inc. (NASDAQ:SWKS) declared a quarterly dividend on Wednesday, February 5th, Wall Street Journal reports. Stockholders of record on Monday, February 24th will be given a dividend of 0.70 per share by the semiconductor manufacturer on Monday, March 17th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Monday, February 24th.

Skyworks Solutions has increased its dividend by an average of 9.2% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Skyworks Solutions has a dividend payout ratio of 66.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Skyworks Solutions to earn $2.88 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 97.2%.

Skyworks Solutions Stock Down 0.2 %

Shares of NASDAQ:SWKS opened at $67.21 on Friday. Skyworks Solutions has a 1 year low of $62.01 and a 1 year high of $120.86. The stock has a 50-day simple moving average of $84.49 and a 200-day simple moving average of $91.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.73 and a current ratio of 5.94. The stock has a market capitalization of $10.80 billion, a P/E ratio of 20.62, a PEG ratio of 1.79 and a beta of 1.14.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. Equities analysts forecast that Skyworks Solutions will post 3.7 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on SWKS. Morgan Stanley reduced their price objective on Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group reduced their price target on Skyworks Solutions from $92.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $80.00 price objective (down previously from $120.00) on shares of Skyworks Solutions in a research report on Thursday, February 6th. B. Riley cut shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $110.00 to $65.00 in a research report on Thursday, February 6th. Finally, Piper Sandler decreased their target price on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $83.78.

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.