Wells Fargo & Company Trims Skyworks Solutions (NASDAQ:SWKS) Target Price to $100.00

Skyworks Solutions (NASDAQ:SWKS) had its price target lowered by Wells Fargo & Company from $110.00 to $100.00 in a research report sent to investors on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor manufacturer’s stock.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Skyworks Solutions from $120.00 to $105.00 and set a neutral rating for the company in a research report on Wednesday. StockNews.com lowered Skyworks Solutions from a buy rating to a hold rating in a research note on Friday, March 29th. Mizuho dropped their price target on Skyworks Solutions from $125.00 to $115.00 and set a buy rating for the company in a research report on Wednesday. Susquehanna reissued a neutral rating and issued a $90.00 price target (down from $125.00) on shares of Skyworks Solutions in a report on Wednesday. Finally, UBS Group decreased their price objective on Skyworks Solutions from $110.00 to $100.00 and set a neutral rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Skyworks Solutions presently has an average rating of Hold and an average target price of $108.86.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $92.51 on Wednesday. The business has a 50 day moving average price of $103.64 and a 200 day moving average price of $101.82. The company has a market capitalization of $14.82 billion, a P/E ratio of 17.39, a PEG ratio of 1.67 and a beta of 1.35. Skyworks Solutions has a 1-year low of $85.06 and a 1-year high of $115.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.79 and a quick ratio of 3.51.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business posted $2.33 earnings per share. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. Sell-side analysts expect that Skyworks Solutions will post 5.65 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently announced 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 dividend yield of 2.94%. The ex-dividend date is Monday, May 20th. Skyworks Solutions’s dividend payout ratio (DPR) is currently 51.13%.

Insider Activity at Skyworks Solutions

In other news, CEO Liam Griffin purchased 11,142 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the purchase, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by insiders.

Institutional Trading of Skyworks Solutions

A number of institutional investors have recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Skyworks Solutions by 40.3% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 22,300 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after buying an additional 6,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Skyworks Solutions by 2.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 16,911 shares of the semiconductor manufacturer’s stock worth $1,667,000 after acquiring an additional 362 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Skyworks Solutions by 639.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 161,155 shares of the semiconductor manufacturer’s stock valued at $15,888,000 after acquiring an additional 139,372 shares during the period. Xponance Inc. lifted its holdings in shares of Skyworks Solutions by 4.1% during the 3rd quarter. Xponance Inc. now owns 21,230 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after acquiring an additional 845 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in Skyworks Solutions by 22.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,818 shares of the semiconductor manufacturer’s stock worth $376,000 after purchasing an additional 695 shares during the period. 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.