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

Skyworks Solutions (NASDAQ:SWKS) had its price objective raised by TD Cowen from $90.00 to $110.00 in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. They currently have a hold rating on the semiconductor manufacturer’s stock.

SWKS has been the subject of a number of other reports. Piper Sandler reduced their price target on shares of Skyworks Solutions from $105.00 to $95.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. KeyCorp lowered shares of Skyworks Solutions from an overweight rating to a sector weight rating in a research note on Monday, April 8th. Citigroup reduced their price objective on Skyworks Solutions from $85.00 to $83.00 and set a sell rating for the company in a research report on Thursday, May 2nd. Susquehanna increased their price objective on shares of Skyworks Solutions from $90.00 to $125.00 and gave the stock a neutral rating in a research note on Wednesday, July 17th. Finally, UBS Group dropped their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $113.94.

Skyworks Solutions Price Performance

Shares of SWKS opened at $104.70 on Wednesday. The company has a market capitalization of $16.72 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 5.13 and a beta of 1.23. Skyworks Solutions has a twelve month low of $85.06 and a twelve month 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. The firm has a 50 day moving average of $105.55 and a 200 day moving average of $103.31.

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

Skyworks Solutions Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 20th. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. Skyworks Solutions’s dividend payout ratio is presently 51.13%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Skyworks Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pzena Investment Management LLC bought a new position in Skyworks Solutions during the 4th quarter valued at about $302,309,000. Norges Bank bought a new position in shares of Skyworks Solutions during the fourth quarter valued at approximately $226,266,000. Swedbank AB purchased a new stake in shares of Skyworks Solutions in the first quarter worth approximately $110,086,000. Vanguard Group Inc. raised its holdings in shares of Skyworks Solutions by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after buying an additional 745,374 shares during the period. Finally, KBC Group NV lifted its stake in shares of Skyworks Solutions by 2,156.7% during the 4th quarter. KBC Group NV now owns 440,372 shares of the semiconductor manufacturer’s stock worth $49,506,000 after acquiring an additional 420,858 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

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.