Skyworks Solutions (NASDAQ:SWKS) Price Target Raised to $120.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective boosted by JPMorgan Chase & Co. from $105.00 to $120.00 in a report published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the semiconductor manufacturer’s stock.

A number of other brokerages have also commented on SWKS. KeyCorp lowered Skyworks Solutions from an overweight rating to a sector weight rating in a research report on Monday, April 8th. Barclays increased their price objective on Skyworks Solutions from $85.00 to $115.00 and gave the company an equal weight rating in a research report on Tuesday. Piper Sandler reiterated a neutral rating and issued a $115.00 price objective (up from $95.00) on shares of Skyworks Solutions in a research report on Wednesday. TD Cowen increased their price objective on Skyworks Solutions from $90.00 to $110.00 and gave the company a hold rating in a research 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 report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $113.94.

Skyworks Solutions Stock Down 3.1 %

NASDAQ SWKS opened at $104.70 on Wednesday. The firm has a market cap 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. Skyworks Solutions has a one year low of $85.06 and a one year high of $120.86. The stock’s 50 day simple moving average is $105.55 and its 200 day simple moving average is $103.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 3.81.

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

Skyworks Solutions Increases Dividend

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

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $90.27, for a total value of $2,295,836.91. Following the sale, the director now owns 60,881 shares of the company’s stock, valued at approximately $5,495,727.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total value of $54,240.00. Following the sale, the vice president now owns 9,112 shares of the company’s stock, valued at approximately $1,093,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 26,337 shares of company stock valued at $2,399,797 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Skyworks Solutions

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Skyworks Solutions by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock valued at $2,101,619,000 after acquiring an additional 745,374 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of Skyworks Solutions by 19.3% in 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 in the last quarter. FIL Ltd grew its holdings in shares of Skyworks Solutions by 2.4% in the 4th quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after acquiring an additional 64,389 shares in the last quarter. Norges Bank bought a new position in shares of Skyworks Solutions in the 4th quarter valued at about $226,266,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Skyworks Solutions by 11.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,806,327 shares of the semiconductor manufacturer’s stock valued at $203,093,000 after acquiring an additional 185,355 shares in the last quarter. 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.