Skyworks Solutions Inc (NASDAQ:SWKS) an innovator of high performance analog semiconductors connecting people, places and things, today announced that its Board of Directors has declared a cash dividend of $0.26 per share of the Company’s common stock, representing a 100 percent increase from the prior quarterly dividend of $0.13 per share. Based on the closing price of Skyworks’ stock on June 17, 2015, the increased dividend represents roughly a one percent yield, or $1.04 per share on an annualized basis. The dividend is payable on August 27, 2015, to stockholders of record as of the close of business on August 6, 2015.
“Our quarterly dividend and share repurchases are important components of our ongoing commitment to return approximately 40 percent of free cash flow to shareholders—a level that we believe strikes an appropriate balance between shareholder returns and investments in our business,” said Donald W. Palette, executive vice president and chief financial officer of Skyworks. “The increase in quarterly payout is supported by an expanding cash flow base and reflects our ongoing confidence in our ability to continue to consistently produce above-market growth and best-in-class financial returns.”(Original Source)
Shares of Skyworks Solutions closed yesterday at $106.57 . SWKS has a 1-year high of $111.60 and a 1-year low of $44.06. The stock’s 50-day moving average is $102.15 and its 200-day moving average is $88.66.
On the ratings front, Skyworks Solutions has been the subject of a number of recent research reports. In a report issued on June 16, Stephens Inc analyst Harsh Kumar maintained a Hold rating on SWKS, with a price target of $110, which represents a slight upside potential from current levels. Separately, on June 11, Northland Securities’ Tom Sepenzis reiterated a Buy rating on the stock and has a price target of $115.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Harsh Kumar and Tom Sepenzis have a total average return of 34.7% and 22.3% respectively. Kumar has a success rate of 62.5% and is ranked #866 out of 3632 analysts, while Sepenzis has a success rate of 61.9% and is ranked #319.
In total, 2 research analysts have assigned a Hold rating and 11 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $112.58 which is 5.6% above where the stock closed yesterday.
Skyworks Solutions Inc, together with its consolidated subsidiaries is an innovator of high reliability analog and mixed signal semiconductors.