Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $105.00

Skyworks Solutions (NASDAQ:SWKS) had its price target cut by JPMorgan Chase & Co. from $120.00 to $105.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the semiconductor manufacturer’s stock.

Several other research firms have also commented on SWKS. TD Cowen lowered shares of Skyworks Solutions from a buy rating to a hold rating and lowered their price objective for the company from $125.00 to $90.00 in a research report on Wednesday. StockNews.com downgraded shares of Skyworks Solutions from a buy rating to a hold rating in a report on Friday, March 29th. Piper Sandler reduced their price objective on Skyworks Solutions from $105.00 to $95.00 and set a neutral rating on the stock in a research note on Wednesday. KeyCorp lowered Skyworks Solutions from an overweight rating to a sector weight rating in a research note on Monday, April 8th. Finally, Benchmark lowered Skyworks Solutions from a buy rating to a hold rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $109.05.

Skyworks Solutions Stock Performance

Shares of NASDAQ SWKS opened at $90.30 on Wednesday. The firm’s fifty day moving average is $104.21 and its two-hundred day moving average is $101.99. Skyworks Solutions has a 52-week low of $85.06 and a 52-week high of $115.69. The company has a market cap of $14.47 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.98 and a beta of 1.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.51 and a current ratio of 5.02.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.02. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Skyworks Solutions had a return on equity of 17.20% and a net margin of 18.85%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. As a group, analysts anticipate that Skyworks Solutions will post 5.65 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.01%. Skyworks Solutions’s dividend payout ratio (DPR) is 51.13%.

Hedge Funds Weigh In On Skyworks Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in SWKS. Access Investment Management LLC bought a new position in shares of Skyworks Solutions during the 1st quarter worth approximately $31,000. Global Wealth Management Investment Advisory Inc. grew its holdings in Skyworks Solutions by 98.1% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 313 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 155 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of Skyworks Solutions by 60.5% during the first quarter. ST Germain D J Co. Inc. now owns 345 shares of the semiconductor manufacturer’s stock worth $37,000 after purchasing an additional 130 shares in the last quarter. Milestone Investment Advisors LLC purchased a new stake in shares of Skyworks Solutions during the 3rd quarter valued at $34,000. Finally, AdvisorNet Financial Inc boosted its position 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 purchasing an additional 316 shares in the last quarter. Hedge funds and other institutional investors 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.