Skyworks Solutions (NASDAQ:SWKS) Price Target Lowered to $85.00 at Piper Sandler

Skyworks Solutions (NASDAQ:SWKS) had its price objective decreased 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.

SWKS has been the topic of a number of other reports. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Bank of America increased their target price on Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus lifted their price objective on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Loop Capital initiated coverage on Skyworks Solutions in a research note on Monday. They set a “hold” rating and a $90.00 price objective on the stock. Finally, Morgan Stanley lowered their price target on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Skyworks Solutions has an average rating of “Hold” and a consensus target price of $101.59.

Skyworks Solutions Price Performance

Shares of NASDAQ:SWKS opened at $83.18 on Wednesday. Skyworks Solutions has a twelve month low of $82.13 and a twelve month high of $120.86. The stock has a market capitalization of $13.29 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 3.95 and a beta of 1.21. 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 firm’s 50 day moving average price is $95.79 and its 200-day moving average price is $100.49.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results 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. Skyworks Solutions had a return on equity of 13.73% and a net margin of 14.27%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned $1.95 earnings per share. Skyworks Solutions’s quarterly revenue was down 15.9% compared to the same quarter last year. Equities research analysts expect that Skyworks Solutions will post 5.39 EPS for the current year.

Skyworks Solutions Announces Dividend

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 issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.37%. Skyworks Solutions’s dividend payout ratio is currently 75.68%.

Insiders Place Their Bets

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total transaction of $950,462.37. Following the transaction, the senior vice president now owns 37,203 shares in the company, valued at $3,793,589.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the sale, the senior vice president now owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,684 shares of company stock worth $3,232,333 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

A number of large investors have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in Skyworks Solutions during the 2nd quarter valued at about $27,000. Rothschild Investment LLC acquired a new position in Skyworks Solutions during the second quarter valued at $27,000. Investors Research Corp boosted its holdings in Skyworks Solutions by 167.7% in the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 213 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Skyworks Solutions by 79.7% in the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 149 shares during the last quarter. Finally, Matrix Trust Co acquired a new stake in Skyworks Solutions during the third quarter worth about $39,000. 85.43% of the stock is owned by hedge funds and other 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.