Piper Sandler Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $95.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective decreased by Piper Sandler from $105.00 to $95.00 in a report issued on Wednesday, Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor manufacturer’s stock.

Several other equities research analysts have also weighed in on the stock. KeyCorp lowered shares of Skyworks Solutions from an overweight rating to a sector weight rating in a report on Monday, April 8th. Benchmark lowered Skyworks Solutions from a buy rating to a hold rating in a report on Wednesday. Mizuho dropped their price target on Skyworks Solutions from $125.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday. TD Cowen lowered Skyworks Solutions from a buy rating to a hold rating and decreased their price objective for the company from $125.00 to $90.00 in a research report on Wednesday. Finally, Susquehanna reiterated a neutral rating and issued a $90.00 price target (down previously from $125.00) on shares of Skyworks Solutions in a report on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $108.86.

Skyworks Solutions Trading Up 3.1 %

NASDAQ:SWKS opened at $92.51 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 3.51 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 1-year low of $85.06 and a 1-year high of $115.69. The firm has a market capitalization of $14.82 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.67 and a beta of 1.35. The business’s 50-day moving average price is $103.64 and its two-hundred day moving average price is $101.82.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. Skyworks Solutions’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the company posted $2.33 EPS. On average, equities analysts expect that Skyworks Solutions will post 5.65 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st will be paid a $0.68 dividend. The ex-dividend date is Monday, May 20th. This represents a $2.72 annualized dividend and a dividend yield of 2.94%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 51.13%.

Insiders Place Their Bets

In other Skyworks Solutions news, CEO Liam Griffin purchased 11,142 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the transaction, the chief executive officer now owns 104,153 shares in the company, valued at $9,373,770. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Skyworks Solutions by 40.3% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 22,300 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after purchasing an additional 6,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Skyworks Solutions by 2.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,911 shares of the semiconductor manufacturer’s stock valued at $1,667,000 after buying an additional 362 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Skyworks Solutions by 639.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 161,155 shares of the semiconductor manufacturer’s stock worth $15,888,000 after acquiring an additional 139,372 shares in the last quarter. Xponance Inc. increased its stake in Skyworks Solutions by 4.1% in the third quarter. Xponance Inc. now owns 21,230 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after acquiring an additional 845 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in Skyworks Solutions by 22.3% during the third quarter. Stratos Wealth Partners LTD. now owns 3,818 shares of the semiconductor manufacturer’s stock valued at $376,000 after purchasing an additional 695 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

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.