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

Skyworks Solutions (NASDAQ:SWKS) had its target price lowered by B. Riley from $120.00 to $110.00 in a research note published on Thursday, MarketBeat.com reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

Several other research firms have also issued reports on SWKS. Robert W. Baird increased their price target on shares of Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Rosenblatt Securities boosted their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Barclays cut their price target on shares of Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Skyworks Solutions to a “hold” rating in a report on Wednesday, July 31st. Finally, Benchmark reissued a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Skyworks Solutions currently has a consensus rating of “Hold” and an average target price of $101.00.

Skyworks Solutions Stock Up 1.1 %

Shares of SWKS stock traded up $0.90 during mid-day trading on Thursday, reaching $84.90. 812,011 shares of the company were exchanged, compared to its average volume of 2,371,761. The company has a market capitalization of $13.56 billion, a P/E ratio of 22.70, a P/E/G ratio of 3.77 and a beta of 1.21. The business’s 50 day simple moving average is $95.44 and its 200 day simple moving average is $100.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 3.01. Skyworks Solutions has a fifty-two week low of $82.13 and a fifty-two week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results 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 company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business posted $1.95 EPS. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. Research analysts predict that Skyworks Solutions will post 5.39 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

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

Insider Buying and Selling

In other Skyworks Solutions news, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction on Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the sale, the senior vice president now owns 27,026 shares of the company’s stock, valued at $2,638,548.38. The trade was a 27.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now owns 15,960 shares in the company, valued at $1,404,639.60. The trade was a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,841 shares of company stock valued at $3,034,265 over the last quarter. 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 bought and sold shares of the business. Integrated Wealth Concepts LLC raised its stake in Skyworks Solutions by 66.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,138 shares of the semiconductor manufacturer’s stock worth $1,495,000 after buying an additional 6,051 shares during the period. HighTower Advisors LLC raised its position in Skyworks Solutions by 354.1% during the third quarter. HighTower Advisors LLC now owns 126,229 shares of the semiconductor manufacturer’s stock valued at $12,475,000 after purchasing an additional 98,432 shares in the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Skyworks Solutions by 12.4% during the third quarter. Hilltop Holdings Inc. now owns 19,819 shares of the semiconductor manufacturer’s stock worth $1,958,000 after buying an additional 2,187 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Skyworks Solutions in the third quarter worth $3,676,000. Finally, Benjamin Edwards Inc. bought a new stake in Skyworks Solutions during the third quarter valued at $1,996,000. 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.