Rosenblatt Securities Trims Skyworks Solutions (NASDAQ:SWKS) Target Price to $120.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective cut by Rosenblatt Securities from $130.00 to $120.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

SWKS has been the topic of several other reports. TD Cowen lowered shares of Skyworks Solutions from a buy rating to a hold rating and decreased their price target for the stock from $125.00 to $90.00 in a research report on Wednesday. B. Riley lifted their target price on Skyworks Solutions from $110.00 to $115.00 and gave the stock a neutral rating in a research report on Wednesday, January 31st. Piper Sandler reaffirmed a neutral rating and issued a $90.00 price target on shares of Skyworks Solutions in a report on Thursday, January 4th. Susquehanna reissued a neutral rating and set a $90.00 price objective (down previously from $125.00) on shares of Skyworks Solutions in a report on Wednesday. Finally, KeyCorp cut Skyworks Solutions from an overweight rating to a sector weight rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $108.86.

Skyworks Solutions Stock Performance

SWKS opened at $92.51 on Wednesday. The company has a quick ratio of 3.51, a current ratio of 2.79 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $103.64 and its two-hundred day moving average price is $101.82. The firm has a market capitalization of $14.82 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 1.67 and a beta of 1.35. Skyworks Solutions has a 12-month low of $85.06 and a 12-month high of $115.69.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company posted $2.33 earnings per share. On average, equities analysts forecast that Skyworks Solutions will post 5.65 earnings per share for the current year.

Skyworks Solutions Announces Dividend

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

Insiders Place Their Bets

In other Skyworks Solutions news, CEO Liam Griffin bought 11,142 shares of the 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 purchase, the chief executive officer now owns 104,153 shares in the company, valued at approximately $9,373,770. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Institutional Trading of Skyworks Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Skyworks Solutions by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,656,578 shares of the semiconductor manufacturer’s stock worth $2,097,372,000 after buying an additional 123,564 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Skyworks Solutions by 3.4% during the third quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock worth $407,474,000 after acquiring an additional 136,188 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Skyworks Solutions by 27.5% during the first quarter. Pzena Investment Management LLC now owns 3,429,148 shares of the semiconductor manufacturer’s stock valued at $371,445,000 after acquiring an additional 740,048 shares during the period. Invesco Ltd. boosted its holdings in Skyworks Solutions by 11.8% in the third quarter. Invesco Ltd. now owns 3,035,245 shares of the semiconductor manufacturer’s stock valued at $299,245,000 after acquiring an additional 321,243 shares during the last quarter. Finally, FIL Ltd increased its position in Skyworks Solutions by 2.4% in the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after purchasing an additional 64,389 shares during the period. Institutional investors and hedge funds 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.