Rosenblatt Securities Boosts Skyworks Solutions (NASDAQ:SWKS) Price Target to $130.00

Skyworks Solutions (NASDAQ:SWKS) had its target price upped by Rosenblatt Securities from $120.00 to $130.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other analysts have also recently weighed in on SWKS. TD Cowen upped their price target on Skyworks Solutions from $90.00 to $110.00 and gave the company a hold rating in a research report on Wednesday. Piper Sandler reiterated a neutral rating and set a $115.00 target price (up previously from $95.00) on shares of Skyworks Solutions in a research report on Wednesday. Needham & Company LLC reaffirmed a hold rating on shares of Skyworks Solutions in a research note on Wednesday. Citigroup dropped their price objective on shares of Skyworks Solutions from $85.00 to $83.00 and set a sell rating for the company in a report on Thursday, May 2nd. Finally, Craig Hallum boosted their target price on Skyworks Solutions from $125.00 to $140.00 and gave the stock a buy rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $113.94.

Skyworks Solutions Trading Down 3.1 %

Shares of SWKS stock opened at $104.70 on Wednesday. The firm has a fifty day moving average of $105.55 and a 200-day moving average of $103.31. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 4.98 and a beta of 1.23. Skyworks Solutions has a 52-week low of $85.06 and a 52-week high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.75.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.21. The firm had revenue of $905.50 million during the quarter, compared to analyst estimates of $900.41 million. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.50 earnings per share. On average, equities research analysts forecast that Skyworks Solutions will post 5.21 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, August 20th. Skyworks Solutions’s dividend payout ratio is presently 51.13%.

Insider Buying and Selling at Skyworks Solutions

In other news, Director Robert A. Schriesheim sold 25,433 shares of the 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 owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total value of $54,240.00. Following the sale, the vice president now owns 9,112 shares of the company’s stock, valued at approximately $1,093,440. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert A. Schriesheim sold 25,433 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $90.27, for a total value of $2,295,836.91. Following the transaction, the director now directly owns 60,881 shares of the company’s stock, valued at approximately $5,495,727.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,337 shares of company stock valued at $2,399,797. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Skyworks Solutions

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas bought a new position in Skyworks Solutions in the first quarter valued at $27,000. Rothschild Investment LLC acquired a new position in shares of Skyworks Solutions during the 2nd quarter worth about $27,000. Innealta Capital LLC bought a new position in shares of Skyworks Solutions in the 2nd quarter valued at about $27,000. Access Investment Management LLC acquired a new stake in shares of Skyworks Solutions in the first quarter valued at about $31,000. Finally, Blue Trust Inc. raised its holdings in Skyworks Solutions by 79.7% during the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

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.