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

Skyworks Solutions (NASDAQ:SWKS) had its price objective lifted by Robert W. Baird from $90.00 to $108.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently issued reports on SWKS. Needham & Company LLC reiterated a hold rating on shares of Skyworks Solutions in a research note on Wednesday. Mizuho decreased their price target on shares of Skyworks Solutions from $125.00 to $115.00 and set a buy rating for the company in a research note on Wednesday, May 1st. TD Cowen raised their price objective on shares of Skyworks Solutions from $90.00 to $110.00 and gave the stock a hold rating in a report on Wednesday. KeyCorp cut shares of Skyworks Solutions from an overweight rating to a sector weight rating in a report on Monday, April 8th. Finally, Wells Fargo & Company cut their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set an equal weight rating on the stock in a report on Wednesday, May 1st. Two 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 data from MarketBeat, Skyworks Solutions presently has an average rating of Hold and a consensus price target of $113.94.

Skyworks Solutions Stock Down 3.1 %

Shares of SWKS opened at $104.70 on Wednesday. The company’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 quick ratio of 3.81 and a current ratio of 5.75. Skyworks Solutions has a 1 year low of $85.06 and a 1 year high of $120.86. The stock has a market capitalization of $16.72 billion, a PE ratio of 19.68, a P/E/G ratio of 5.13 and a beta of 1.23.

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

Skyworks Solutions Increases Dividend

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

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total transaction of $49,720.00. Following the sale, the vice president now directly owns 9,564 shares in the company, valued at approximately $1,052,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total transaction of $49,720.00. Following the sale, the vice president now directly owns 9,564 shares in the company, valued at approximately $1,052,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert A. Schriesheim sold 25,433 shares of the business’s 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 sale, the director now owns 60,881 shares in the company, valued at $5,495,727.87. The disclosure for this sale can be found here. Insiders have sold a total of 26,337 shares of company stock worth $2,399,797 in the last three months. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in 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 purchasing an additional 745,374 shares during the last quarter. Pzena Investment Management LLC raised 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 during the last quarter. FIL Ltd raised its stake in 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 purchasing an additional 64,389 shares during the last quarter. Norges Bank acquired a new position in Skyworks Solutions in the 4th quarter valued at about $226,266,000. Finally, Dimensional Fund Advisors LP raised its stake in 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 purchasing an additional 185,355 shares during 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.