Skyworks Solutions (NASDAQ:SWKS) Price Target Raised to $84.00

Skyworks Solutions (NASDAQ:SWKS) had its target price increased by Citigroup from $72.00 to $84.00 in a report published on Friday,Benzinga reports. Citigroup currently has a sell rating on the semiconductor manufacturer’s stock.

Other analysts also recently issued research reports about the stock. Mizuho decreased their target price on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Piper Sandler cut their price target on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Morgan Stanley lowered their price objective on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. cut their target price on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Finally, Susquehanna lowered their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $101.71.

Skyworks Solutions Price Performance

NASDAQ:SWKS opened at $90.20 on Friday. The firm has a market cap of $14.42 billion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. The stock has a 50 day moving average of $88.33 and a two-hundred day moving average of $98.11. Skyworks Solutions has a 12 month low of $82.13 and a 12 month high of $120.86. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping the consensus estimate of $1.52 by $0.03. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.95 earnings per share. On average, analysts expect that Skyworks Solutions will post 4.45 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.10%. The ex-dividend date was Tuesday, December 3rd. Skyworks Solutions’s payout ratio is 75.68%.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, SVP Robert John Terry sold 1,821 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $90.16, for a total value of $164,181.36. Following the completion of the transaction, the senior vice president now owns 24,567 shares in the company, valued at $2,214,960.72. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Erste Asset Management GmbH acquired a new stake in Skyworks Solutions in the 3rd quarter valued at about $27,000. Investors Research Corp increased its stake in shares of Skyworks Solutions by 167.7% during the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 213 shares during the period. Matrix Trust Co acquired a new stake in Skyworks Solutions in the third quarter valued at approximately $39,000. Valley Wealth Managers Inc. purchased a new position in Skyworks Solutions in the third quarter worth approximately $40,000. Finally, Quest Partners LLC acquired a new position in Skyworks Solutions during the 3rd quarter worth approximately $41,000. 85.43% of the stock is currently 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.