Skyworks Solutions (NASDAQ:SWKS) Price Target Lowered to $70.00 at The Goldman Sachs Group

Skyworks Solutions (NASDAQ:SWKS) had its price target reduced by The Goldman Sachs Group from $92.00 to $70.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the semiconductor manufacturer’s stock.

Several other research analysts have also recently weighed in on SWKS. Craig Hallum decreased their price target on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. B. Riley cut Skyworks Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the company from $110.00 to $65.00 in a report on Thursday. JPMorgan Chase & Co. cut their price objective on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Stifel Nicolaus downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and lowered their target price for the company from $105.00 to $62.00 in a research note on Thursday. Finally, Piper Sandler cut their price target on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Skyworks Solutions has a consensus rating of “Hold” and an average target price of $83.78.

Skyworks Solutions Stock Down 24.7 %

Shares of NASDAQ SWKS opened at $65.60 on Thursday. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. The company has a market cap of $10.54 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.96 and a beta of 1.14. Skyworks Solutions has a 52 week low of $62.01 and a 52 week high of $120.86. The business has a 50-day simple moving average of $89.37 and a two-hundred day simple moving average of $95.52.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. Research analysts anticipate that Skyworks Solutions will post 4.45 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Monday, February 24th. Skyworks Solutions’s dividend payout ratio is 75.68%.

Insider Buying and Selling

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the sale, the senior vice president now owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Skyworks Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Erste Asset Management GmbH purchased a new position in Skyworks Solutions during the 3rd quarter valued at about $27,000. Golden State Wealth Management LLC bought a new stake in shares of Skyworks Solutions in the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Skyworks Solutions during the fourth quarter valued at approximately $29,000. Investors Research Corp raised its holdings in shares of Skyworks Solutions by 167.7% during the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 213 shares in the last quarter. Finally, Matrix Trust Co purchased a new stake in Skyworks Solutions in the third quarter worth $39,000. 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.