Skyworks Solutions (NASDAQ:SWKS) PT Lowered to $83.00 at Citigroup

Skyworks Solutions (NASDAQ:SWKS) had its target price trimmed by Citigroup from $85.00 to $83.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a sell rating on the semiconductor manufacturer’s stock.

SWKS has been the subject of several other reports. Needham & Company LLC reissued a hold rating on shares of Skyworks Solutions in a research note on Wednesday, May 1st. Piper Sandler lowered their price objective on shares of Skyworks Solutions from $105.00 to $95.00 and set a neutral rating for the company in a research report on Wednesday, May 1st. StockNews.com lowered shares of Skyworks Solutions from a buy rating to a hold rating in a research report on Friday, March 29th. UBS Group decreased their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. Finally, Susquehanna reissued a neutral rating and issued a $90.00 price objective (down previously from $125.00) on shares of Skyworks Solutions in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $108.86.

Skyworks Solutions Price Performance

Shares of SWKS stock opened at $92.51 on Thursday. The stock has a 50 day moving average price of $103.41 and a 200 day moving average price of $101.84. Skyworks Solutions has a 52-week low of $85.06 and a 52-week high of $115.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.19. The firm has a market capitalization of $14.84 billion, a P/E ratio of 17.39, a P/E/G ratio of 4.00 and a beta of 1.35.

Skyworks Solutions Dividend Announcement

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

Insider Transactions at Skyworks Solutions

In other news, CEO Liam Griffin bought 11,142 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the completion of the transaction, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

A number of large investors have recently made changes to their positions in SWKS. Mediolanum International Funds Ltd acquired a new stake in shares of Skyworks Solutions in the 1st quarter worth $4,686,000. Pzena Investment Management LLC raised its stake in Skyworks Solutions by 27.5% in 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 buying an additional 740,048 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in Skyworks Solutions by 3.7% in the first quarter. Rehmann Capital Advisory Group now owns 10,672 shares of the semiconductor manufacturer’s stock worth $1,156,000 after acquiring an additional 378 shares in the last quarter. Commerce Bank grew its stake in shares of Skyworks Solutions by 3.8% during the first quarter. Commerce Bank now owns 61,596 shares of the semiconductor manufacturer’s stock worth $6,672,000 after acquiring an additional 2,270 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Skyworks Solutions by 6.0% during the first quarter. Daiwa Securities Group Inc. now owns 18,529 shares of the semiconductor manufacturer’s stock worth $2,007,000 after acquiring an additional 1,054 shares during 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.