Skyworks Solutions (NASDAQ:SWKS) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Skyworks Solutions (NASDAQ:SWKS) in a report published on Wednesday, Benzinga reports.

Other research analysts have also recently issued reports about the stock. Rosenblatt Securities lowered their target price on shares of Skyworks Solutions from $130.00 to $120.00 and set a buy rating on the stock in a report on Wednesday. Mizuho lowered their price objective on Skyworks Solutions from $125.00 to $115.00 and set a buy rating on the stock in a research note on Wednesday. Benchmark downgraded Skyworks Solutions from a buy rating to a hold rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on Skyworks Solutions from $120.00 to $105.00 and set a neutral rating on the stock in a research report on Wednesday. Finally, Piper Sandler dropped their price target on Skyworks Solutions from $105.00 to $95.00 and set a neutral rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $108.86.

Skyworks Solutions Stock Up 3.1 %

SWKS stock opened at $92.51 on Wednesday. Skyworks Solutions has a fifty-two week low of $85.06 and a fifty-two week high of $115.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.79 and a quick ratio of 3.51. The stock 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 fifty day moving average price is $103.64 and its two-hundred day moving average price is $101.82.

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

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend 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%.

Insider Activity at Skyworks Solutions

In other news, CEO Liam Griffin bought 11,142 shares of the stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the acquisition, the chief executive officer now directly owns 104,153 shares in the company, valued at $9,373,770. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of Skyworks Solutions

A number of hedge funds have recently made changes to their positions in SWKS. Pzena Investment Management LLC bought a new position in Skyworks Solutions in the 4th quarter valued at approximately $302,309,000. Norges Bank bought a new position in shares of Skyworks Solutions during the fourth quarter valued at $226,266,000. Pacer Advisors Inc. raised its stake in shares of Skyworks Solutions by 40.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,601,879 shares of the semiconductor manufacturer’s stock valued at $180,083,000 after acquiring an additional 465,223 shares during the last quarter. KBC Group NV lifted its holdings in shares of Skyworks Solutions by 2,156.7% during the fourth quarter. KBC Group NV now owns 440,372 shares of the semiconductor manufacturer’s stock worth $49,506,000 after purchasing an additional 420,858 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Skyworks Solutions by 42.0% in the third quarter. AQR Capital Management LLC now owns 1,145,660 shares of the semiconductor manufacturer’s stock worth $112,951,000 after purchasing an additional 338,838 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

About Skyworks Solutions

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.