Skyworks Solutions (NASDAQ:SWKS) PT Raised to $110.00

Skyworks Solutions (NASDAQ:SWKS) had its price target raised by TD Cowen from $90.00 to $110.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a hold rating on the semiconductor manufacturer’s stock.

A number of other analysts have also weighed in on the stock. KeyCorp lowered shares of Skyworks Solutions from an overweight rating to a sector weight rating in a research report on Monday, April 8th. B. Riley upgraded shares of Skyworks Solutions from a neutral rating to a buy rating and raised their target price for the company from $96.00 to $130.00 in a research report on Thursday, June 20th. Piper Sandler cut their price target on shares of Skyworks Solutions from $105.00 to $95.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Citigroup cut their price target on shares of Skyworks Solutions from $85.00 to $83.00 and set a sell rating on the stock in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Skyworks Solutions from $120.00 to $105.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Skyworks Solutions presently has an average rating of Hold and a consensus target price of $113.94.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock opened at $104.70 on Wednesday. Skyworks Solutions has a fifty-two week low of $85.06 and a fifty-two week high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 3.81. The firm has a market capitalization of $16.72 billion, a P/E ratio of 19.68, a P/E/G ratio of 5.13 and a beta of 1.23. The company’s 50 day moving average price is $105.55 and its two-hundred day moving average price is $103.30.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The firm had revenue of $905.50 million for the quarter, compared to analyst estimates of $900.41 million. During the same quarter last year, the business posted $1.50 earnings per share. The company’s quarterly revenue was down 15.5% on a year-over-year basis. On average, equities analysts forecast that Skyworks Solutions will post 5.14 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be paid a $0.70 dividend. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 2.67%. The ex-dividend date is Tuesday, August 20th. Skyworks Solutions’s payout ratio is 51.13%.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total value of $2,295,836.91. Following the completion of the sale, the director now directly owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total value of $54,240.00. Following the completion of the sale, the vice president now directly owns 9,112 shares of the company’s stock, valued at $1,093,440. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the completion of the sale, the director now directly owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,337 shares of company stock valued at $2,399,797. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC increased its position in shares of Skyworks Solutions by 4.0% during the second quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock worth $239,000 after acquiring an additional 87 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Skyworks Solutions by 3.0% during the first quarter. HB Wealth Management LLC now owns 3,219 shares of the semiconductor manufacturer’s stock worth $349,000 after acquiring an additional 94 shares in the last quarter. Safeguard Investment Advisory Group LLC increased its position in shares of Skyworks Solutions by 0.6% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 15,694 shares of the semiconductor manufacturer’s stock worth $1,764,000 after acquiring an additional 99 shares in the last quarter. Albert D Mason Inc. increased its position in shares of Skyworks Solutions by 0.7% during the first quarter. Albert D Mason Inc. now owns 14,591 shares of the semiconductor manufacturer’s stock worth $1,581,000 after acquiring an additional 99 shares in the last quarter. Finally, John G Ullman & Associates Inc. increased its position in shares of Skyworks Solutions by 3.1% during the fourth quarter. John G Ullman & Associates Inc. now owns 3,300 shares of the semiconductor manufacturer’s stock worth $371,000 after acquiring an additional 100 shares in the last quarter. 85.43% of the stock is owned by institutional investors.

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.