Morgan Stanley Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $87.00

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

A number of other equities research analysts have also recently weighed in on SWKS. Susquehanna lowered their price target on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday. Piper Sandler lowered their target price on Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. TD Cowen lifted their price target on Skyworks Solutions from $90.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Bank of America lifted their target price on shares of Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities raised their price objective on shares of Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Skyworks Solutions currently has a consensus rating of “Hold” and a consensus target price of $101.00.

Skyworks Solutions Trading Down 0.4 %

NASDAQ:SWKS opened at $83.69 on Wednesday. Skyworks Solutions has a 1 year low of $82.13 and a 1 year high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 3.01. The stock has a fifty day moving average price of $95.14 and a two-hundred day moving average price of $100.20. The stock has a market capitalization of $13.37 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.53 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $1.95 EPS. The business’s revenue was down 15.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Skyworks Solutions will post 5.39 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. Skyworks Solutions’s dividend payout ratio (DPR) is 75.68%.

Insiders Place Their Bets

In related news, SVP Carlos S. Bori sold 9,321 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the sale, the senior vice president now directly owns 37,203 shares in the company, valued at approximately $3,793,589.91. This trade represents a 20.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,841 shares of company stock worth $3,034,265 over the last ninety days. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in Skyworks Solutions in the 2nd quarter worth $27,000. Rothschild Investment LLC acquired a new position in Skyworks Solutions during the 2nd quarter worth $27,000. Erste Asset Management GmbH bought a new position in shares of Skyworks Solutions during the third quarter worth about $27,000. Investors Research Corp grew its stake in Skyworks Solutions by 167.7% in the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 213 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Skyworks Solutions by 79.7% in the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 149 shares during the last quarter. 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.