Piper Sandler Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $95.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective trimmed by Piper Sandler from $105.00 to $95.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts also recently weighed in on SWKS. Rosenblatt Securities dropped their price target on shares of Skyworks Solutions from $130.00 to $120.00 and set a buy rating for the company in a research note on Wednesday. Susquehanna reiterated a neutral rating and set a $90.00 target price (down previously from $125.00) on shares of Skyworks Solutions in a research report on Wednesday. Mizuho reduced their price target on Skyworks Solutions from $125.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday. StockNews.com downgraded Skyworks Solutions from a buy rating to a hold rating in a report on Friday, March 29th. Finally, KeyCorp cut Skyworks Solutions from an overweight rating to a sector weight rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $108.86.

Skyworks Solutions Price Performance

Shares of SWKS stock opened at $92.51 on Wednesday. The firm 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 has a 12 month low of $85.06 and a 12 month high of $115.69. The company has a quick ratio of 3.51, a current ratio of 5.19 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $103.41 and a 200 day moving average price of $101.80.

Skyworks Solutions Dividend Announcement

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

Insider Activity

In other Skyworks Solutions news, CEO Liam Griffin bought 11,142 shares of Skyworks Solutions stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the acquisition, the chief executive officer now owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Skyworks Solutions

Large investors have recently modified their holdings of the business. AXQ Capital LP bought a new position in Skyworks Solutions in the third quarter valued at approximately $789,000. Highland Capital Management LLC grew its stake in shares of Skyworks Solutions by 91.4% in the fourth quarter. Highland Capital Management LLC now owns 42,564 shares of the semiconductor manufacturer’s stock valued at $4,785,000 after buying an additional 20,330 shares in the last quarter. LSV Asset Management lifted its stake in Skyworks Solutions by 24.2% in the third quarter. LSV Asset Management now owns 1,741,300 shares of the semiconductor manufacturer’s stock valued at $171,675,000 after acquiring an additional 338,820 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Skyworks Solutions by 10,450.2% in the 4th quarter. International Assets Investment Management LLC now owns 84,507 shares of the semiconductor manufacturer’s stock valued at $9,500,000 after acquiring an additional 83,706 shares during the period. Finally, abrdn plc increased its stake in shares of Skyworks Solutions by 50.0% during the 4th quarter. abrdn plc now owns 90,031 shares of the semiconductor manufacturer’s stock worth $10,121,000 after purchasing an additional 30,022 shares during the last quarter. 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.