Citigroup Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $72.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective decreased by Citigroup from $83.00 to $72.00 in a report issued on Wednesday,Benzinga reports. Citigroup currently has a sell rating on the semiconductor manufacturer’s stock.

Several other equities research analysts have also recently weighed in on SWKS. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday. Rosenblatt Securities upped their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley decreased their price objective on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Robert W. Baird upped their target price on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group upgraded Skyworks Solutions to a “hold” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Skyworks Solutions currently has an average rating of “Hold” and a consensus target price of $101.00.

Skyworks Solutions Stock Down 0.4 %

Shares of SWKS opened at $83.69 on Wednesday. The company has a current ratio of 3.01, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 12 month low of $82.13 and a 12 month high of $120.86. The firm’s 50 day moving average is $95.14 and its 200-day moving average is $100.16. The stock has a market capitalization of $13.37 billion, a PE ratio of 22.62, a P/E/G ratio of 1.53 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The company’s revenue was down 15.9% on a year-over-year basis. During the same quarter last year, the company earned $1.95 EPS. Equities research analysts forecast that Skyworks Solutions will post 5.39 EPS for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders 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 3.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions’s payout ratio is 75.68%.

Insider Activity

In other Skyworks Solutions news, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the completion of the sale, the senior vice president now owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This represents a 27.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert John Terry sold 10,522 shares of the firm’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 transaction of $926,041.22. Following the transaction, the senior vice president now owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. The trade was a 39.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,841 shares of company stock valued at $3,034,265. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

Several large investors have recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in Skyworks Solutions during the second quarter valued at $27,000. Innealta Capital LLC acquired a new position in shares of Skyworks Solutions in the 2nd quarter valued at about $27,000. Erste Asset Management GmbH acquired a new position in shares of Skyworks Solutions in the 3rd quarter valued at about $27,000. Blue Trust Inc. boosted its position in shares of Skyworks Solutions by 79.7% during the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 149 shares in the last quarter. Finally, Investors Research Corp grew its stake in Skyworks Solutions by 167.7% during 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 during the period. 85.43% of the stock is currently 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.