Citigroup Issues Positive Forecast for Skyworks Solutions (NASDAQ:SWKS) Stock Price

Skyworks Solutions (NASDAQ:SWKS) had its price target upped by Citigroup from $72.00 to $84.00 in a report issued on Friday,Benzinga reports. Citigroup currently has a sell rating on the semiconductor manufacturer’s stock.

A number of other analysts have also recently commented on the company. Barclays cut their target price on Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 13th. Mizuho lowered their price target on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Loop Capital assumed coverage on Skyworks Solutions in a report on Monday, November 11th. They set a “hold” rating and a $90.00 price target on the stock. Susquehanna lowered their price target on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lowered their price target on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $101.71.

Skyworks Solutions Stock Down 2.6 %

Skyworks Solutions stock opened at $90.20 on Friday. The stock’s fifty day moving average is $88.30 and its two-hundred day moving average is $98.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. Skyworks Solutions has a 1-year low of $82.13 and a 1-year high of $120.86. The stock has a market cap of $14.42 billion, a PE ratio of 24.38, a P/E/G ratio of 2.01 and a beta of 1.15.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The business’s revenue was down 15.9% compared to the same quarter last year. On average, sell-side analysts expect that Skyworks Solutions will post 4.45 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio (DPR) is 75.68%.

Insider Transactions at Skyworks Solutions

In related news, SVP Robert John Terry sold 1,821 shares of Skyworks Solutions stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the completion of the transaction, the senior vice president now directly owns 24,567 shares in the company, valued at $2,214,960.72. The trade was a 6.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $97.63, for a total value of $993,580.51. Following the transaction, the senior vice president now owns 27,026 shares of the company’s stock, valued at $2,638,548.38. This represents a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,520 shares of company stock valued at $2,083,803 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Zega Financial LLC raised its position in shares of Skyworks Solutions by 5.0% during the 2nd quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock worth $224,000 after purchasing an additional 100 shares during the last quarter. Elo Mutual Pension Insurance Co raised its holdings in Skyworks Solutions by 0.7% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock valued at $1,569,000 after acquiring an additional 107 shares during the last quarter. Unison Advisors LLC raised its holdings in Skyworks Solutions by 0.6% in the 3rd quarter. Unison Advisors LLC now owns 17,384 shares of the semiconductor manufacturer’s stock valued at $1,717,000 after acquiring an additional 110 shares during the last quarter. Abich Financial Wealth Management LLC raised its holdings in Skyworks Solutions by 9.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,322 shares of the semiconductor manufacturer’s stock valued at $131,000 after acquiring an additional 112 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Skyworks Solutions by 8.7% in the 3rd quarter. UMB Bank n.a. now owns 1,432 shares of the semiconductor manufacturer’s stock valued at $141,000 after acquiring an additional 115 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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.