Skyworks Solutions (NASDAQ:SWKS) Given New $120.00 Price Target at JPMorgan Chase & Co.

Skyworks Solutions (NASDAQ:SWKS) had its price objective hoisted by JPMorgan Chase & Co. from $105.00 to $120.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor manufacturer’s stock.

Several other analysts also recently issued reports on SWKS. Barclays boosted their price objective on Skyworks Solutions from $85.00 to $115.00 and gave the stock an equal weight rating in a report on Tuesday, July 30th. Piper Sandler restated a neutral rating and set a $115.00 price objective (up previously from $95.00) on shares of Skyworks Solutions in a report on Wednesday. Citigroup cut their price objective on Skyworks Solutions from $85.00 to $83.00 and set a sell rating on the stock in a report on Thursday, May 2nd. B. Riley upgraded Skyworks Solutions from a neutral rating to a buy rating and boosted their price objective for the stock from $96.00 to $130.00 in a report on Thursday, June 20th. Finally, Craig Hallum upped their target price on Skyworks Solutions from $125.00 to $140.00 and gave the company a buy rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $113.94.

Skyworks Solutions Stock Performance

SWKS stock opened at $104.70 on Wednesday. The company has a market capitalization of $16.72 billion, a P/E ratio of 19.68, a PEG ratio of 4.98 and a beta of 1.23. The company has a 50-day simple moving average of $105.55 and a 200 day simple moving average of $103.31. Skyworks Solutions has a fifty-two week low of $85.06 and a fifty-two week high of $120.86. The company has a quick ratio of 3.81, a current ratio of 5.75 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, hitting the consensus estimate 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 analysts’ expectations of $900.41 million. During the same period in the previous year, the business earned $1.50 earnings per share. Skyworks Solutions’s revenue for the quarter was down 15.5% compared to the same quarter last year. Sell-side analysts predict 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. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Tuesday, August 20th. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s dividend payout ratio is presently 51.13%.

Insider Transactions 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 stock was sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the sale, the director now owns 60,881 shares in the company, valued at $5,495,727.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Skyworks Solutions news, Director Robert A. Schriesheim sold 25,433 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the transaction, the director now owns 60,881 shares in the company, valued at $5,495,727.87. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Philip Matthew Carter sold 452 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $110.00, for a total value of $49,720.00. Following the transaction, the vice president now owns 9,564 shares in the company, valued at approximately $1,052,040. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,337 shares of company stock worth $2,399,797. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI raised its position in shares of Skyworks Solutions by 96.3% during the second quarter. National Bank of Canada FI now owns 108,207 shares of the semiconductor manufacturer’s stock worth $11,506,000 after purchasing an additional 53,086 shares during the period. Impact Partnership Wealth LLC raised its position in shares of Skyworks Solutions by 350.1% during the second quarter. Impact Partnership Wealth LLC now owns 8,200 shares of the semiconductor manufacturer’s stock worth $874,000 after purchasing an additional 6,378 shares during the period. Pzena Investment Management LLC raised its position in shares of Skyworks Solutions by 19.3% during the second quarter. Pzena Investment Management LLC now owns 4,090,292 shares of the semiconductor manufacturer’s stock worth $435,943,000 after purchasing an additional 661,144 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Skyworks Solutions by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock worth $1,468,000 after purchasing an additional 100 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Skyworks Solutions by 0.7% during the second quarter. Rhumbline Advisers now owns 355,371 shares of the semiconductor manufacturer’s stock worth $37,875,000 after purchasing an additional 2,616 shares during the period. 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.