Skyworks Solutions (NASDAQ:SWKS) Price Target Lowered to $110.00 at B. Riley

Skyworks Solutions (NASDAQ:SWKS) had its target price cut by B. Riley from $120.00 to $110.00 in a research note published on Thursday morning, Marketbeat Ratings reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

Other equities analysts have also recently issued reports about the stock. Citigroup reduced their price objective on shares of Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating for the company in a research report on Wednesday. Piper Sandler reduced their price target on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday. The Goldman Sachs Group raised shares of Skyworks Solutions to a “hold” rating in a report on Wednesday, July 31st. Loop Capital initiated coverage on shares of Skyworks Solutions in a research report on Monday. They set a “hold” rating and a $90.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Skyworks Solutions presently has an average rating of “Hold” and an average price target of $101.00.

Skyworks Solutions Stock Up 1.1 %

NASDAQ:SWKS traded up $0.90 during mid-day trading on Thursday, hitting $84.90. 812,011 shares of the company’s stock were exchanged, compared to its average volume of 2,371,761. The business has a fifty day moving average price of $95.44 and a 200 day moving average price of $100.37. The company has a market cap of $13.56 billion, a PE ratio of 22.70, a P/E/G ratio of 3.77 and a beta of 1.21. Skyworks Solutions has a one year low of $82.13 and a one year high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.01 and a quick ratio of 4.29.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company’s revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 earnings per share. Equities analysts predict that Skyworks Solutions will post 5.39 EPS for the current year.

Skyworks Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.30%. The ex-dividend date is Tuesday, December 3rd. Skyworks Solutions’s payout ratio is presently 75.68%.

Insider Activity at Skyworks Solutions

In other news, SVP Carlos S. Bori sold 9,321 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total transaction of $950,462.37. Following the completion of the sale, the senior vice president now directly owns 37,203 shares in the company, valued at approximately $3,793,589.91. This represents a 20.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert John Terry sold 1,821 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 24,567 shares of the company’s stock, valued at $2,214,960.72. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,841 shares of company stock valued at $3,034,265 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its holdings in Skyworks Solutions by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock valued at $239,000 after buying an additional 87 shares in the last quarter. AlphaMark Advisors LLC grew its position in shares of Skyworks Solutions by 14.8% in the second quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock valued at $83,000 after purchasing an additional 100 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Skyworks Solutions by 0.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock valued at $1,468,000 after purchasing an additional 100 shares during the period. Zega Financial LLC grew its position in shares of Skyworks Solutions by 5.0% in the second quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock valued at $224,000 after purchasing an additional 100 shares during the period. Finally, Elo Mutual Pension Insurance Co grew its position in shares of Skyworks Solutions by 0.7% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock valued at $1,569,000 after purchasing an additional 107 shares during the period. 85.43% of the stock is currently 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.