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. Stockholders of record on Tuesday, December 3rd will be given a dividend of 0.70 per share by the semiconductor manufacturer on Tuesday, December 24th. This represents a $2.80 annualized dividend and a dividend yield of 3.22%.

Skyworks Solutions has raised its dividend payment by an average of 11.4% annually over the last three years and has increased its dividend annually for the last 11 consecutive 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 Down 1.1 %

Shares of NASDAQ:SWKS traded down $0.94 during midday trading on Tuesday, hitting $87.04. 3,399,421 shares of the company’s stock were exchanged, compared to its average volume of 2,361,320. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29. The stock has a 50 day moving average price of $96.47 and a 200-day moving average price of $100.73. The company has a market cap of $13.90 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 4.05 and a beta of 1.21. Skyworks Solutions has a 12 month low of $85.99 and a 12 month high of $120.86.

Insiders Place Their Bets

In related news, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the transaction, the senior vice president now directly owns 37,203 shares of the company’s stock, valued at approximately $3,793,589.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Carlos S. Bori sold 10,177 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the sale, the senior vice president now owns 27,026 shares of the company’s stock, valued at $2,638,548.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the transaction, the senior vice president now 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 position. The disclosure for this sale can be found here. Insiders sold a total of 21,341 shares of company stock valued at $2,142,110 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Loop Capital assumed coverage on shares of Skyworks Solutions in a research report on Monday. They issued a “hold” rating and a $90.00 price objective for the company. The Goldman Sachs Group upgraded shares of Skyworks Solutions to a “hold” rating in a research note on Wednesday, July 31st. Piper Sandler decreased their price target on shares of Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Rosenblatt Securities increased their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Skyworks Solutions from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $108.94.

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.