Skyworks Solutions (NASDAQ:SWKS) Given New $87.00 Price Target at Morgan Stanley

Skyworks Solutions (NASDAQ:SWKS) had its price target cut by Morgan Stanley from $117.00 to $87.00 in a report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the semiconductor manufacturer’s stock.

Several other analysts have also commented on SWKS. Rosenblatt Securities increased their target price on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays lowered shares of Skyworks Solutions from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $115.00 to $87.00 in a report on Thursday, October 10th. Piper Sandler lowered their price objective on shares of Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Loop Capital started coverage on Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 target price for the company. Finally, Stifel Nicolaus raised their target price on Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $101.00.

Skyworks Solutions Price Performance

NASDAQ SWKS opened at $83.69 on Wednesday. The firm has a market capitalization of $13.37 billion, a PE ratio of 22.62, a P/E/G ratio of 1.53 and a beta of 1.21. 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 has a 12 month low of $82.13 and a 12 month high of $120.86. The company’s 50 day simple moving average is $95.14 and its 200 day simple moving average is $100.20.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm posted $1.95 earnings per share. The company’s revenue was down 15.9% on a year-over-year basis. As a group, equities research analysts forecast that Skyworks Solutions will post 5.39 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a yield of 3.35%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 75.68%.

Insider Activity

In related news, SVP Carlos S. Bori sold 10,177 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the transaction, the senior vice president now owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. The trade was a 27.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the sale, the senior vice president now owns 15,960 shares in the company, valued at $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,841 shares of company stock valued at $3,034,265 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Skyworks Solutions

Institutional investors have recently added to or reduced their stakes in the company. Forsta AP Fonden grew its holdings in shares of Skyworks Solutions by 27.0% during the 3rd quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer’s stock worth $3,674,000 after purchasing an additional 7,900 shares in the last quarter. Versor Investments LP increased its holdings in Skyworks Solutions by 115.3% in the 3rd quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock valued at $1,966,000 after buying an additional 10,658 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Skyworks Solutions by 73.3% in the 1st quarter. Advisors Asset Management Inc. now owns 16,067 shares of the semiconductor manufacturer’s stock valued at $1,740,000 after buying an additional 6,795 shares in the last quarter. Van ECK Associates Corp increased its stake in Skyworks Solutions by 25.3% in the third quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock valued at $152,915,000 after acquiring an additional 325,672 shares during the period. Finally, M&G Plc acquired a new position in Skyworks Solutions in the second quarter worth about $797,000. 85.43% of the stock is 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.