Rosenblatt Securities Increases Skyworks Solutions (NASDAQ:SWKS) Price Target to $130.00

Skyworks Solutions (NASDAQ:SWKS) had its target price hoisted by Rosenblatt Securities from $120.00 to $130.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

SWKS has been the topic of a number of other research reports. Wells Fargo & Company dropped their target price on Skyworks Solutions from $110.00 to $100.00 and set an equal weight rating on the stock in a report on Wednesday, May 1st. TD Cowen raised their price objective on Skyworks Solutions from $90.00 to $110.00 and gave the company a hold rating in a research note on Wednesday. Mizuho cut their price objective on shares of Skyworks Solutions from $125.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Craig Hallum increased their target price on shares of Skyworks Solutions from $125.00 to $140.00 and gave the company a buy rating in a report on Wednesday. Finally, Susquehanna raised their price target on shares of Skyworks Solutions from $90.00 to $125.00 and gave the company a neutral rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Skyworks Solutions presently has a consensus rating of Hold and an average price target of $113.94.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $104.70 on Wednesday. The company has a market cap of $16.72 billion, a P/E ratio of 19.68, a PEG ratio of 4.98 and a beta of 1.23. The company has a fifty day simple moving average of $105.55 and a 200 day simple moving average of $103.31. 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 quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. The firm had revenue of $905.50 million for 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 quarterly revenue was down 15.5% compared to the same quarter last year. During the same period last year, the firm earned $1.50 earnings per share. Sell-side analysts predict that Skyworks Solutions will post 5.21 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. Shareholders of record on Tuesday, August 20th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 2.67%. Skyworks Solutions’s dividend payout ratio is 51.13%.

Insider Transactions at Skyworks Solutions

In related news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total transaction of $54,240.00. Following the sale, the vice president now directly owns 9,112 shares in the company, valued at approximately $1,093,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert A. Schriesheim sold 25,433 shares of the 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 sale, the director now directly owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total transaction of $54,240.00. Following the transaction, the vice president now directly owns 9,112 shares of the company’s stock, valued at approximately $1,093,440. The disclosure for this sale can be found here. Insiders sold 26,337 shares of company stock worth $2,399,797 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SWKS. Sequoia Financial Advisors LLC boosted its stake in Skyworks Solutions by 4.0% during the second quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock valued at $239,000 after buying an additional 87 shares during the period. HB Wealth Management LLC raised its holdings in shares of Skyworks Solutions by 3.0% in the 1st 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 raised its holdings in shares of Skyworks Solutions by 0.6% in 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 acquiring an additional 99 shares in the last quarter. Albert D Mason Inc. boosted its position in shares of Skyworks Solutions by 0.7% during the 1st quarter. Albert D Mason Inc. now owns 14,591 shares of the semiconductor manufacturer’s stock valued at $1,581,000 after acquiring an additional 99 shares during the last quarter. Finally, John G Ullman & Associates Inc. grew its holdings in shares of Skyworks Solutions by 3.1% during the fourth 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 in the last quarter. 85.43% of the stock is owned by institutional investors.

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.