Skyworks Solutions (NASDAQ:SWKS) Given New $85.00 Price Target at Piper Sandler

Skyworks Solutions (NASDAQ:SWKS) had its price objective lowered by Piper Sandler from $95.00 to $85.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor manufacturer’s stock.

Several other research analysts also recently commented on the company. Susquehanna reduced their price objective on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Barclays lowered their price objective on shares of Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday. Mizuho cut their target price on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley lowered their price target on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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. The stock has a market cap of $13.37 billion, a PE ratio of 22.62, a PEG ratio of 1.53 and a beta of 1.21. Skyworks Solutions has a 12 month low of $82.13 and a 12 month high of $120.86. The company’s 50-day moving average price is $95.14 and its 200-day moving average price is $100.20. 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 (NASDAQ:SWKS) last issued its earnings results 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 business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.95 EPS. Equities research analysts forecast that Skyworks Solutions will post 5.39 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid 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 dividend yield of 3.35%. Skyworks Solutions’s payout ratio is 75.68%.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, SVP Carlos S. Bori sold 10,177 shares of the company’s 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 transaction, the senior vice president now owns 27,026 shares in the company, valued at approximately $2,638,548.38. This represents a 27.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert John Terry sold 1,821 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the completion of the transaction, the senior vice president now directly owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,841 shares of company stock valued at $3,034,265 in the last three months. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SWKS. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Skyworks Solutions by 8.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 8,652 shares of the semiconductor manufacturer’s stock worth $937,000 after purchasing an additional 658 shares during the period. Sei Investments Co. lifted its stake in Skyworks Solutions by 49.1% during the 1st quarter. Sei Investments Co. now owns 179,590 shares of the semiconductor manufacturer’s stock valued at $19,451,000 after acquiring an additional 59,145 shares during the period. US Bancorp DE lifted its stake in Skyworks Solutions by 6.8% during the 1st quarter. US Bancorp DE now owns 46,768 shares of the semiconductor manufacturer’s stock valued at $5,066,000 after acquiring an additional 2,970 shares during the period. Avantax Advisory Services Inc. increased its stake in shares of Skyworks Solutions by 28.4% in the first quarter. Avantax Advisory Services Inc. now owns 5,336 shares of the semiconductor manufacturer’s stock worth $578,000 after acquiring an additional 1,179 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in shares of Skyworks Solutions by 7.9% during the first quarter. Bleakley Financial Group LLC now owns 1,992 shares of the semiconductor manufacturer’s stock worth $216,000 after purchasing an additional 146 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

About Skyworks Solutions

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.