Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $83.00 by Analysts at Citigroup

Skyworks Solutions (NASDAQ:SWKS) had its price target lowered by Citigroup from $85.00 to $83.00 in a report published on Thursday, Benzinga reports. The firm currently has a sell rating on the semiconductor manufacturer’s stock.

Other equities analysts have also issued reports about the company. TD Cowen lowered Skyworks Solutions from a buy rating to a hold rating and reduced their price objective for the company from $125.00 to $90.00 in a report on Wednesday, May 1st. KeyCorp lowered Skyworks Solutions from an overweight rating to a sector weight rating in a report on Monday, April 8th. Wells Fargo & Company dropped their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set an equal weight rating on the stock in a report on Wednesday, May 1st. Rosenblatt Securities cut their target price on shares of Skyworks Solutions from $130.00 to $120.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Finally, Mizuho lowered their price target on shares of Skyworks Solutions from $125.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $108.86.

Skyworks Solutions Stock Up 3.1 %

SWKS opened at $92.51 on Thursday. The company’s 50-day moving average price is $103.41 and its two-hundred day moving average price is $101.84. The company has a quick ratio of 3.81, a current ratio of 5.19 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a twelve month low of $85.06 and a twelve month high of $115.69. The stock has a market cap of $14.84 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 4.00 and a beta of 1.35.

Skyworks Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, May 20th. Skyworks Solutions’s dividend payout ratio (DPR) is currently 51.13%.

Insider Transactions at Skyworks Solutions

In other news, CEO Liam Griffin bought 11,142 shares of Skyworks Solutions stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the completion of the purchase, the chief executive officer now directly owns 104,153 shares in the company, valued at $9,373,770. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Skyworks Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of SWKS. HB Wealth Management LLC lifted its position in Skyworks Solutions by 3.0% in the 1st quarter. HB Wealth Management LLC now owns 3,219 shares of the semiconductor manufacturer’s stock worth $349,000 after buying an additional 94 shares during the last quarter. Safeguard Investment Advisory Group LLC boosted its stake in shares of Skyworks Solutions by 0.6% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 15,694 shares of the semiconductor manufacturer’s stock valued at $1,764,000 after purchasing an additional 99 shares in the last quarter. Albert D Mason Inc. grew its holdings in shares of Skyworks Solutions by 0.7% during the 1st quarter. Albert D Mason Inc. now owns 14,591 shares of the semiconductor manufacturer’s stock valued at $1,581,000 after purchasing an additional 99 shares during the last quarter. John G Ullman & Associates Inc. raised its position in Skyworks Solutions by 3.1% in the 4th quarter. John G Ullman & Associates Inc. now owns 3,300 shares of the semiconductor manufacturer’s stock worth $371,000 after purchasing an additional 100 shares during the period. Finally, Lcnb Corp lifted its stake in Skyworks Solutions by 2.4% in the fourth quarter. Lcnb Corp now owns 4,355 shares of the semiconductor manufacturer’s stock worth $490,000 after purchasing an additional 100 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

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.