Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $112.00

Skyworks Solutions (NASDAQ:SWKS) had its target price lowered by Stifel Nicolaus from $122.00 to $112.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts also recently commented on the company. Benchmark downgraded Skyworks Solutions from a buy rating to a hold rating in a research report on Wednesday. Susquehanna reiterated a neutral rating and issued a $90.00 target price (down previously from $125.00) on shares of Skyworks Solutions in a report on Wednesday. Rosenblatt Securities decreased their price target on Skyworks Solutions from $130.00 to $120.00 and set a buy rating on the stock in a report on Wednesday. Piper Sandler restated a neutral rating and issued a $90.00 price target on shares of Skyworks Solutions in a research report on Thursday, January 4th. Finally, TD Cowen cut shares of Skyworks Solutions from a buy rating to a hold rating and cut their price objective for the company from $125.00 to $90.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $109.05.

Skyworks Solutions Stock Down 15.3 %

SWKS opened at $90.30 on Wednesday. The stock has a market cap of $14.47 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth 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. The firm’s fifty day moving average is $104.21 and its 200 day moving average is $101.99. Skyworks Solutions has a fifty-two week low of $85.06 and a fifty-two week high of $115.69.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a return on equity of 17.20% and a net margin of 18.85%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company earned $2.33 EPS. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. On average, sell-side analysts forecast that Skyworks Solutions will post 5.65 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

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

Hedge Funds Weigh In On Skyworks Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. HB Wealth Management LLC raised its holdings in shares of Skyworks Solutions by 3.0% in the first quarter. HB Wealth Management LLC now owns 3,219 shares of the semiconductor manufacturer’s stock valued at $349,000 after acquiring an additional 94 shares in the last quarter. Safeguard Investment Advisory Group LLC increased its position in Skyworks Solutions by 0.6% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 15,694 shares of the semiconductor manufacturer’s stock valued at $1,764,000 after purchasing an additional 99 shares during the period. Albert D Mason Inc. raised its holdings in shares of Skyworks Solutions by 0.7% in the 1st quarter. Albert D Mason Inc. now owns 14,591 shares of the semiconductor manufacturer’s stock valued at $1,581,000 after purchasing an additional 99 shares in the last quarter. John G Ullman & Associates Inc. lifted its position in shares of Skyworks Solutions by 3.1% in the 4th quarter. John G Ullman & Associates Inc. now owns 3,300 shares of the semiconductor manufacturer’s stock worth $371,000 after purchasing an additional 100 shares during the period. Finally, Lcnb Corp boosted its stake in shares of Skyworks Solutions by 2.4% during the fourth quarter. Lcnb Corp now owns 4,355 shares of the semiconductor manufacturer’s stock valued at $490,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

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.