Skyworks Solutions (NASDAQ:SWKS) Given New $87.00 Price Target at Morgan Stanley

Skyworks Solutions (NASDAQ:SWKS) had its price objective reduced by Morgan Stanley from $117.00 to $87.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also recently issued reports on SWKS. Bank of America boosted their price objective on Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, July 31st. TD Cowen upped their price target on shares of Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Barclays downgraded shares of Skyworks Solutions from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $115.00 to $87.00 in a report on Thursday, October 10th. Piper Sandler lowered their target price on shares of Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Rosenblatt Securities raised their price target on Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.59.

Skyworks Solutions Stock Down 4.4 %

Skyworks Solutions stock opened at $83.18 on Wednesday. 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 company has a market capitalization of $13.29 billion, a P/E ratio of 22.48, a P/E/G ratio of 3.95 and a beta of 1.21. The firm has a 50 day moving average price of $95.79 and a 200-day moving average price of $100.49. Skyworks Solutions has a twelve month low of $82.13 and a twelve month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a return on equity of 13.73% and a net margin of 14.27%. Skyworks Solutions’s revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.95 earnings per share. As a group, equities analysts predict that Skyworks Solutions will post 5.39 EPS for the current year.

Skyworks Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.37%. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

Insider Activity

In related news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares in the company, valued at approximately $1,404,639.60. 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 accessible through the SEC website. In related news, SVP Robert John Terry sold 10,522 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the sale, the senior vice president now owns 15,960 shares in the company, valued at $1,404,639.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Reza Kasnavi sold 1,843 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the sale, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,684 shares of company stock worth $3,232,333. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyworks Solutions

A number of large investors have recently added to or reduced their stakes in the business. Forsta AP Fonden grew its stake in shares of Skyworks Solutions by 27.0% during the third quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer’s stock valued at $3,674,000 after buying an additional 7,900 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Skyworks Solutions by 73.3% during the 1st quarter. Advisors Asset Management Inc. now owns 16,067 shares of the semiconductor manufacturer’s stock valued at $1,740,000 after acquiring an additional 6,795 shares during the period. Versor Investments LP grew its position in Skyworks Solutions by 115.3% during the 3rd quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock worth $1,966,000 after acquiring an additional 10,658 shares during the last quarter. Van ECK Associates Corp increased its stake in Skyworks Solutions by 25.3% in the 3rd quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock worth $152,915,000 after purchasing an additional 325,672 shares during the period. Finally, M&G Plc bought a new stake in Skyworks Solutions in the second quarter valued at approximately $797,000. 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.