Piper Sandler Trims Skyworks Solutions (NASDAQ:SWKS) Target Price to $95.00

Skyworks Solutions (NASDAQ:SWKS) had its price target lowered by Piper Sandler from $105.00 to $95.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor manufacturer’s stock.

Several other equities analysts have also commented on the stock. Benchmark lowered shares of Skyworks Solutions from a buy rating to a hold rating in a research report on Wednesday. Rosenblatt Securities cut their target price on Skyworks Solutions from $130.00 to $120.00 and set a buy rating on the stock in a research report on Wednesday. TD Cowen downgraded Skyworks Solutions from a buy rating to a hold rating and lowered their price target for the company from $125.00 to $90.00 in a research report on Wednesday. Mizuho dropped their price target on Skyworks Solutions from $125.00 to $115.00 and set a buy rating for the company in a research note on Wednesday. Finally, StockNews.com lowered Skyworks Solutions from a buy rating to a hold rating in a research note on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $108.86.

Skyworks Solutions Price Performance

Shares of NASDAQ:SWKS opened at $92.51 on Wednesday. The business has a fifty day simple moving average of $103.64 and a 200-day simple moving average of $101.82. Skyworks Solutions has a 52 week low of $85.06 and a 52 week high of $115.69. The company has a market cap of $14.82 billion, a P/E ratio of 17.39, a P/E/G ratio of 1.67 and a beta of 1.35. The company has a quick ratio of 3.51, a current ratio of 2.79 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. Equities research analysts forecast that Skyworks Solutions will post 5.65 EPS for the current year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, May 20th. Skyworks Solutions’s payout ratio is 51.13%.

Insider Activity

In related news, CEO Liam Griffin purchased 11,142 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the purchase, the chief executive officer now owns 104,153 shares in the company, valued at $9,373,770. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas acquired a new position in Skyworks Solutions in the first quarter worth about $27,000. Global Wealth Management Investment Advisory Inc. grew its position in shares of Skyworks Solutions by 98.1% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 313 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 155 shares in the last quarter. Access Investment Management LLC bought a new stake in shares of Skyworks Solutions in the 1st quarter valued at approximately $31,000. Milestone Investment Advisors LLC acquired a new stake in shares of Skyworks Solutions during the 3rd quarter valued at approximately $34,000. Finally, ST Germain D J Co. Inc. lifted its stake in Skyworks Solutions by 60.5% during the first quarter. ST Germain D J Co. Inc. now owns 345 shares of the semiconductor manufacturer’s stock worth $37,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

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.