Skyworks Solutions (NASDAQ:SWKS) Given New $120.00 Price Target at JPMorgan Chase & Co.

Skyworks Solutions (NASDAQ:SWKS) had its price objective boosted by JPMorgan Chase & Co. from $105.00 to $120.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor manufacturer’s stock.

SWKS has been the topic of a number of other research reports. Barclays upped their target price on Skyworks Solutions from $85.00 to $115.00 and gave the stock an equal weight rating in a report on Tuesday, July 30th. Susquehanna upped their target price on Skyworks Solutions from $90.00 to $125.00 and gave the stock a neutral rating in a report on Wednesday, July 17th. Citigroup reduced their target price on Skyworks Solutions from $85.00 to $83.00 and set a sell rating on the stock in a report on Thursday, May 2nd. Wolfe Research downgraded Skyworks Solutions from an outperform rating to a peer perform rating in a report on Thursday, May 9th. Finally, Needham & Company LLC reiterated a hold rating on shares of Skyworks Solutions in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $113.94.

Skyworks Solutions Trading Down 3.1 %

SWKS opened at $104.70 on Wednesday. The business has a 50 day simple moving average of $105.55 and a two-hundred day simple moving average of $103.31. The firm has a market capitalization of $16.72 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.98 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 3.81. Skyworks Solutions has a one year low of $85.06 and a one year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, meeting analysts’ consensus estimates of $1.21. The business had revenue of $905.50 million during the quarter, compared to analyst estimates of $900.41 million. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. Skyworks Solutions’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.50 EPS. Analysts predict that Skyworks Solutions will post 5.21 EPS for the current year.

Skyworks Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.67%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, August 20th. Skyworks Solutions’s dividend payout ratio is presently 51.13%.

Insider Activity

In other news, VP Philip Matthew Carter sold 452 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total transaction of $54,240.00. Following the transaction, the vice president now directly owns 9,112 shares of the company’s stock, valued at approximately $1,093,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Philip Matthew Carter sold 452 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total value of $54,240.00. Following the transaction, the vice president now directly owns 9,112 shares of the company’s stock, valued at approximately $1,093,440. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert A. Schriesheim sold 25,433 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $90.27, for a total value of $2,295,836.91. Following the completion of the transaction, the director now directly owns 60,881 shares in the company, valued at $5,495,727.87. The disclosure for this sale can be found here. Insiders have sold 26,337 shares of company stock valued at $2,399,797 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SWKS. PFG Advisors grew its position in Skyworks Solutions by 18.3% in the fourth quarter. PFG Advisors now owns 2,644 shares of the semiconductor manufacturer’s stock worth $297,000 after acquiring an additional 409 shares in the last quarter. Fifth Third Bancorp grew its position in Skyworks Solutions by 9.6% in the fourth quarter. Fifth Third Bancorp now owns 20,139 shares of the semiconductor manufacturer’s stock worth $2,264,000 after acquiring an additional 1,763 shares in the last quarter. AdvisorNet Financial Inc grew its position in Skyworks Solutions by 790.0% in the fourth quarter. AdvisorNet Financial Inc now owns 356 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 316 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in Skyworks Solutions in the fourth quarter worth about $206,000. Finally, Oak Thistle LLC purchased a new position in Skyworks Solutions in the fourth quarter worth about $668,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

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.