Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $100.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective trimmed by Wells Fargo & Company from $110.00 to $100.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor manufacturer’s stock.

SWKS has been the topic of several other research reports. Benchmark lowered Skyworks Solutions from a buy rating to a hold rating in a research note on Wednesday. Susquehanna reissued a neutral rating and set a $90.00 target price (down previously from $125.00) on shares of Skyworks Solutions in a research note on Wednesday. UBS Group decreased their target price on Skyworks Solutions from $110.00 to $100.00 and set a neutral rating on the stock in a research note on Wednesday. Piper Sandler decreased their target price on Skyworks Solutions from $105.00 to $95.00 and set a neutral rating on the stock in a research note on Wednesday. Finally, TD Cowen lowered Skyworks Solutions from a buy rating to a hold rating and decreased their target price for the stock from $125.00 to $90.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Skyworks Solutions has a consensus rating of Hold and a consensus target price of $109.05.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock opened at $90.30 on Wednesday. Skyworks Solutions has a 52 week low of $85.06 and a 52 week high of $115.69. The business’s fifty day simple moving average is $104.21 and its 200-day simple moving average is $101.99. The firm has a market cap of $14.47 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.98 and a beta of 1.35. The company has a quick ratio of 3.51, a current ratio of 5.02 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a return on equity of 17.20% and a net margin of 18.85%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned $2.33 EPS. Skyworks Solutions’s revenue was down 9.6% on a year-over-year basis. Equities analysts forecast that Skyworks Solutions will post 5.65 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 3.01%. Skyworks Solutions’s payout ratio is 51.13%.

Institutional Trading of Skyworks Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Skyworks Solutions by 40.3% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 22,300 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after buying an additional 6,400 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Skyworks Solutions by 2.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,911 shares of the semiconductor manufacturer’s stock valued at $1,667,000 after buying an additional 362 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Skyworks Solutions by 639.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 161,155 shares of the semiconductor manufacturer’s stock valued at $15,888,000 after buying an additional 139,372 shares during the period. Xponance Inc. lifted its holdings in shares of Skyworks Solutions by 4.1% in the 3rd quarter. Xponance Inc. now owns 21,230 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after buying an additional 845 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its holdings in shares of Skyworks Solutions by 22.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,818 shares of the semiconductor manufacturer’s stock valued at $376,000 after buying an additional 695 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

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.