Skyworks Solutions (NASDAQ:SWKS) Shares Gap Down After Analyst Downgrade

Skyworks Solutions, Inc. (NASDAQ:SWKS) gapped down before the market opened on Wednesday after Piper Sandler lowered their price target on the stock from $105.00 to $95.00. The stock had previously closed at $106.59, but opened at $91.07. Piper Sandler currently has a neutral rating on the stock. Skyworks Solutions shares last traded at $91.58, with a volume of 1,894,106 shares trading hands.

A number of other equities analysts have also commented on the company. Mizuho dropped 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 lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus decreased their target price on Skyworks Solutions from $122.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday. StockNews.com downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Finally, TD Cowen downgraded Skyworks Solutions from a “buy” rating to a “hold” rating and decreased their target price for the stock from $125.00 to $90.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $109.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SWKS. Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of Skyworks Solutions by 98.1% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 313 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 155 shares in the last quarter. Milestone Investment Advisors LLC acquired a new position in shares of Skyworks Solutions in the 3rd quarter worth approximately $34,000. ST Germain D J Co. Inc. boosted its holdings in shares of Skyworks Solutions by 60.5% in the 1st quarter. ST Germain D J Co. Inc. now owns 345 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 130 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Skyworks Solutions by 790.0% in the 4th quarter. AdvisorNet Financial Inc now owns 356 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 316 shares in the last quarter. Finally, Vestor Capital LLC acquired a new position in shares of Skyworks Solutions in the 4th quarter worth approximately $43,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Stock Down 15.5 %

The firm has a market capitalization of $14.43 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 2.01 and a beta of 1.37. The company has a current ratio of 5.02, a quick ratio of 3.51 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $104.21 and a 200 day moving average price of $101.99.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a net margin of 19.48% and a return on equity of 18.68%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company posted $2.33 EPS. Skyworks Solutions’s revenue was down 9.6% on a year-over-year basis. Sell-side analysts anticipate that Skyworks Solutions, Inc. will post 5.63 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 3.02%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 48.23%.

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.