Skyworks Solutions (NASDAQ:SWKS) Price Target Raised to $108.00

Skyworks Solutions (NASDAQ:SWKS) had its target price hoisted by Robert W. Baird from $90.00 to $108.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the semiconductor manufacturer’s stock.

Other research analysts also recently issued research reports about the stock. Craig Hallum raised their price target on shares of Skyworks Solutions from $125.00 to $140.00 and gave the stock a buy rating in a research note on Wednesday. Stifel Nicolaus reduced their price target on shares of Skyworks Solutions from $122.00 to $112.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Skyworks Solutions from $120.00 to $105.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Rosenblatt Securities raised their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Benchmark downgraded shares of Skyworks Solutions from a buy rating to a hold rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $113.94.

Skyworks Solutions Price Performance

Skyworks Solutions stock opened at $104.70 on Wednesday. The firm has a 50-day moving average price of $105.55 and a 200-day moving average price of $103.30. The firm has a market capitalization of $16.72 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 5.13 and a beta of 1.23. The company has a current ratio of 5.75, a quick ratio of 3.81 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 12-month low of $85.06 and a 12-month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.21. The firm had revenue of $905.50 million during the quarter, compared to analyst estimates of $900.41 million. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The business’s revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the business earned $1.50 EPS. As a group, equities research analysts forecast that Skyworks Solutions will post 5.14 EPS for the current year.

Skyworks Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. Skyworks Solutions’s dividend payout ratio (DPR) is 51.13%.

Insider Buying and Selling

In related news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total value of $54,240.00. Following the completion of the sale, the vice president now directly owns 9,112 shares in the company, valued at approximately $1,093,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total value of $2,295,836.91. Following the completion of the sale, the director now directly owns 60,881 shares in the company, valued at approximately $5,495,727.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total transaction of $54,240.00. Following the completion of the sale, the vice president now owns 9,112 shares of the company’s stock, valued at $1,093,440. The disclosure for this sale can be found here. Insiders sold 26,337 shares of company stock worth $2,399,797 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Skyworks Solutions

A number of institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI lifted its stake in Skyworks Solutions by 96.3% during the 2nd quarter. National Bank of Canada FI now owns 108,207 shares of the semiconductor manufacturer’s stock valued at $11,506,000 after acquiring an additional 53,086 shares during the period. Impact Partnership Wealth LLC lifted its stake in Skyworks Solutions by 350.1% during the 2nd quarter. Impact Partnership Wealth LLC now owns 8,200 shares of the semiconductor manufacturer’s stock valued at $874,000 after acquiring an additional 6,378 shares during the period. Pzena Investment Management LLC lifted its stake in Skyworks Solutions by 19.3% during the 2nd quarter. Pzena Investment Management LLC now owns 4,090,292 shares of the semiconductor manufacturer’s stock valued at $435,943,000 after acquiring an additional 661,144 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Skyworks Solutions by 0.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock valued at $1,468,000 after acquiring an additional 100 shares during the period. Finally, Rhumbline Advisers lifted its stake in Skyworks Solutions by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 355,371 shares of the semiconductor manufacturer’s stock valued at $37,875,000 after acquiring an additional 2,616 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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.