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

Skyworks Solutions, Inc. (NASDAQ:SWKS) announced a quarterly dividend on Tuesday, November 12th,RTT News reports. Shareholders 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 yield of 3.22%.

Skyworks Solutions has increased its dividend payment by an average of 11.4% annually over the last three years and has increased its dividend every year for the last 11 years. Skyworks Solutions has a payout ratio of 44.0% meaning its dividend is sufficiently covered by earnings. Research 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 traded down $0.94 during mid-day trading on Tuesday, reaching $87.04. 3,399,421 shares of the company traded hands, compared to its average volume of 2,361,320. The stock has a market capitalization of $13.90 billion, a P/E ratio of 18.14, a P/E/G ratio of 4.05 and a beta of 1.21. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average price is $96.47 and its 200-day moving average price is $100.73. Skyworks Solutions has a 52-week low of $85.99 and a 52-week high of $120.86.

Insider Activity

In other news, SVP Carlos S. Bori sold 9,321 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the completion of the sale, the senior vice president now directly owns 37,203 shares of the company’s stock, valued at $3,793,589.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Carlos S. Bori sold 9,321 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the sale, the senior vice president now directly owns 37,203 shares of the company’s stock, valued at approximately $3,793,589.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Reza Kasnavi sold 1,843 shares of Skyworks Solutions stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the sale, the senior vice president now directly owns 17,455 shares in the company, valued at approximately $1,875,888.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,341 shares of company stock worth $2,142,110. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

SWKS has been the topic of a number of research analyst reports. Bank of America upped their target price on shares of Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 31st. B. Riley lowered their target price on shares of Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Barclays cut shares of Skyworks Solutions from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $115.00 to $87.00 in a report on Thursday, October 10th. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Finally, Robert W. Baird raised their price target on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Skyworks Solutions currently has a consensus rating of “Hold” and a consensus price target of $108.94.

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.