B. Riley Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $120.00

Skyworks Solutions (NASDAQ:SWKS) had its price target lowered by B. Riley from $140.00 to $120.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities analysts have also weighed in on SWKS. The Goldman Sachs Group raised Skyworks Solutions to a “hold” rating in a research report on Wednesday, July 31st. Robert W. Baird increased their price objective on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Bank of America increased their price target on Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, July 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $115.00 price objective (up previously from $95.00) on shares of Skyworks Solutions in a report on Wednesday, July 31st. Three research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $111.06.

Skyworks Solutions Stock Up 0.8 %

Skyworks Solutions stock traded up $0.75 during trading hours on Thursday, hitting $95.83. The stock had a trading volume of 65,774 shares, compared to its average volume of 2,345,772. The stock’s 50-day moving average price is $100.50 and its 200-day moving average price is $101.56. Skyworks Solutions has a 12-month low of $85.06 and a 12-month high of $120.86. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $15.31 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 4.34 and a beta of 1.20.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. The business had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $900.41 million. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 EPS. Equities research analysts anticipate that Skyworks Solutions will post 5.21 EPS for the current fiscal year.

Skyworks Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were paid a dividend of $0.70 per share. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, August 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.92%. Skyworks Solutions’s payout ratio is 57.73%.

Insiders Place Their Bets

In other news, SVP Carlos S. Bori sold 9,321 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the transaction, the senior vice president now directly owns 37,203 shares in the company, valued at $3,793,589.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Carlos S. Bori sold 9,321 shares of Skyworks Solutions stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $101.97, for a total transaction of $950,462.37. Following the sale, the senior vice president now owns 37,203 shares in the company, valued at $3,793,589.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Carlos S. Bori sold 10,177 shares of the company’s 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 transaction, the senior vice president now owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,341 shares of company stock worth $2,142,110. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

Several large investors have recently made changes to their positions in the company. BNP Paribas purchased a new position in Skyworks Solutions during the 1st quarter valued at approximately $27,000. Innealta Capital LLC purchased a new position in shares of Skyworks Solutions in the second quarter valued at $27,000. Rothschild Investment LLC bought a new stake in Skyworks Solutions in the second quarter worth $27,000. Access Investment Management LLC purchased a new stake in Skyworks Solutions during the first quarter valued at $31,000. Finally, Blue Trust Inc. lifted its position in Skyworks Solutions by 79.7% during the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 149 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

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.