Skyworks Solutions (NASDAQ:SWKS) Rating Reiterated by Piper Sandler

Piper Sandler restated their neutral rating on shares of Skyworks Solutions (NASDAQ:SWKS) in a report published on Wednesday morning, Benzinga reports. Piper Sandler currently has a $115.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $95.00.

Several other brokerages have also commented on SWKS. UBS Group decreased their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Rosenblatt Securities lowered their price target on Skyworks Solutions from $130.00 to $120.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Mizuho decreased their target price on Skyworks Solutions from $125.00 to $115.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Benchmark lowered shares of Skyworks Solutions from a buy rating to a hold rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set an equal weight rating for the company in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $113.94.

Skyworks Solutions Trading Down 3.1 %

Shares of Skyworks Solutions stock opened at $104.70 on Wednesday. The stock has a 50 day moving average of $105.55 and a 200 day moving average of $103.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.75. The firm has a market capitalization of $16.72 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.98 and a beta of 1.23. Skyworks Solutions has a fifty-two week low of $85.06 and a fifty-two week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.21. The business had revenue of $905.50 million during the quarter, compared to analysts’ expectations of $900.41 million. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The company’s revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.50 EPS. As a group, research analysts predict that Skyworks Solutions will post 5.21 earnings per share for the current year.

Skyworks Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be paid a $0.70 dividend. 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 is currently 51.13%.

Insider Buying and Selling

In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction 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 transaction, the vice president now directly owns 9,112 shares in the company, valued at $1,093,440. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robert A. Schriesheim sold 25,433 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the completion of 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 filing with the SEC, which is available through the SEC website. Also, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction 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 completion of the transaction, the vice president now owns 9,112 shares in the company, valued at $1,093,440. The disclosure for this sale can be found here. Insiders have sold 26,337 shares of company stock worth $2,399,797 in the last quarter. 0.34% of the stock is owned by insiders.

Institutional Trading of Skyworks Solutions

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Skyworks Solutions by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock valued at $2,101,619,000 after purchasing an additional 745,374 shares during the period. Pzena Investment Management LLC increased its stake in 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 purchasing an additional 661,144 shares in the last quarter. FIL Ltd boosted its position in Skyworks Solutions by 2.4% during the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after purchasing an additional 64,389 shares in the last quarter. Norges Bank purchased a new position in shares of Skyworks Solutions in the fourth quarter valued at $226,266,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Skyworks Solutions by 11.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,806,327 shares of the semiconductor manufacturer’s stock valued at $203,093,000 after buying an additional 185,355 shares in the last quarter. Institutional investors and hedge funds 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.