Skyworks Solutions (NASDAQ:SWKS) Reaches New 1-Year Low Following Weak Earnings

Skyworks Solutions, Inc. (NASDAQ:SWKS) hit 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 changing hands. The stock had previously closed at $87.08.

The semiconductor manufacturer reported $1.31 EPS 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Monday, February 24th. Skyworks Solutions’s payout ratio is 75.68%.

Wall Street Analyst Weigh In

SWKS has been the topic of several analyst reports. Citigroup lifted their price objective on Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a report on Friday, January 10th. Bank of America reduced their target price on Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating on the stock in a report on Thursday. Morgan Stanley cut their target price on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday. Piper Sandler dropped their target price on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their target price on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.78.

Insider Buying and Selling at Skyworks Solutions

In related news, SVP Robert John Terry sold 10,522 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the sale, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at $1,404,639.60. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SWKS. Unison Advisors LLC raised its stake in Skyworks Solutions by 0.6% during the 3rd quarter. Unison Advisors LLC now owns 17,384 shares of the semiconductor manufacturer’s stock worth $1,717,000 after buying an additional 110 shares during the period. Abich Financial Wealth Management LLC raised its stake in shares of Skyworks Solutions by 9.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,322 shares of the semiconductor manufacturer’s stock valued at $131,000 after purchasing an additional 112 shares during the period. UMB Bank n.a. lifted its holdings in shares of Skyworks Solutions by 8.7% in the third quarter. UMB Bank n.a. now owns 1,432 shares of the semiconductor manufacturer’s stock valued at $141,000 after purchasing an additional 115 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of Skyworks Solutions by 2.2% during the third quarter. Empirical Finance LLC now owns 5,578 shares of the semiconductor manufacturer’s stock worth $551,000 after buying an additional 121 shares in the last quarter. Finally, Waldron Private Wealth LLC raised its position in Skyworks Solutions by 4.4% in the 3rd quarter. Waldron Private Wealth LLC now owns 3,182 shares of the semiconductor manufacturer’s stock valued at $314,000 after buying an additional 133 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Stock Performance

The stock’s 50-day moving average price is $89.37 and its 200 day moving average price is $95.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. The firm has a market cap of $10.54 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14.

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.