Barclays Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $185.00

Skyworks Solutions (NASDAQ:SWKS) had its price target lowered by Barclays from $200.00 to $185.00 in a research note published on Wednesday, The Fly reports.

A number of other analysts also recently issued reports on the stock. Bank of America dropped their price objective on shares of Skyworks Solutions from $190.00 to $180.00 and set a neutral rating for the company in a report on Monday, January 10th. B. Riley dropped their price target on Skyworks Solutions from $245.00 to $210.00 and set a buy rating for the company in a research note on Friday, November 5th. Mizuho raised their price objective on Skyworks Solutions from $215.00 to $218.00 and gave the company a buy rating in a report on Friday, November 5th. Summit Insights cut shares of Skyworks Solutions from a buy rating to a hold rating in a research report on Thursday, November 4th. Finally, Robert W. Baird downgraded shares of Skyworks Solutions from an outperform rating to a neutral rating and lowered their price target for the stock from $220.00 to $165.00 in a research note on Wednesday, October 13th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Skyworks Solutions has a consensus rating of Buy and a consensus target price of $209.10.

Shares of NASDAQ SWKS opened at $155.65 on Wednesday. The stock’s 50-day simple moving average is $156.90 and its two-hundred day simple moving average is $170.63. Skyworks Solutions has a twelve month low of $142.00 and a twelve month high of $204.00. The firm has a market capitalization of $25.74 billion, a P/E ratio of 17.35, a P/E/G ratio of 1.16 and a beta of 1.10. The company has a quick ratio of 3.01, a current ratio of 4.35 and a debt-to-equity ratio of 0.42.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, November 4th. The semiconductor manufacturer reported $2.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.35. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Skyworks Solutions had a net margin of 29.33% and a return on equity of 32.70%. Skyworks Solutions’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 earnings per share. As a group, research analysts anticipate that Skyworks Solutions will post 10.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 14th. Shareholders of record on Tuesday, November 23rd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Monday, November 22nd. Skyworks Solutions’s payout ratio is currently 24.97%.

In other news, SVP Robert John Terry sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, January 10th. The stock was sold at an average price of $152.35, for a total value of $228,525.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Liam Griffin sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 10th. The stock was sold at an average price of $163.06, for a total value of $1,630,600.00. The disclosure for this sale can be found here. Insiders sold a total of 79,965 shares of company stock valued at $12,767,048 over the last 90 days. Company insiders own 0.38% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Skyworks Solutions by 12.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,612 shares of the semiconductor manufacturer’s stock valued at $5,870,000 after acquiring an additional 3,301 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Skyworks Solutions during the second quarter valued at approximately $268,000. Rockefeller Capital Management L.P. boosted its position in shares of Skyworks Solutions by 39.1% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 6,441 shares of the semiconductor manufacturer’s stock worth $1,235,000 after purchasing an additional 1,811 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV grew its stake in shares of Skyworks Solutions by 10.6% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 3,545 shares of the semiconductor manufacturer’s stock worth $680,000 after buying an additional 340 shares during the last quarter. Finally, Empirical Finance LLC increased its position in Skyworks Solutions by 16.1% during the 2nd quarter. Empirical Finance LLC now owns 1,998 shares of the semiconductor manufacturer’s stock valued at $383,000 after buying an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 72.65% of the company’s stock.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc engages in the design, development, and manufacture of proprietary semiconductor products. Its product portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, receivers, switches, and technical ceramics.

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