Skyworks Solutions (NASDAQ:SWKS) Price Target Lowered to $72.00 at Citigroup

Skyworks Solutions (NASDAQ:SWKS) had its target price cut by Citigroup from $83.00 to $72.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a sell rating on the semiconductor manufacturer’s stock.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group raised shares of Skyworks Solutions to a “hold” rating in a report on Wednesday, July 31st. Piper Sandler cut their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday. Bank of America increased their price target on Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 31st. Loop Capital started coverage on Skyworks Solutions in a research report on Monday. They issued a “hold” rating and a $90.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $101.59.

Skyworks Solutions Trading Down 4.4 %

Shares of SWKS opened at $83.18 on Wednesday. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The stock has a market cap of $13.29 billion, a PE ratio of 22.48, a PEG ratio of 3.95 and a beta of 1.21. Skyworks Solutions has a 1 year low of $82.13 and a 1 year high of $120.86. The stock has a 50 day simple moving average of $95.79 and a 200-day simple moving average of $100.49.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Skyworks Solutions had a return on equity of 13.73% and a net margin of 14.27%. The business’s revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.95 earnings per share. On average, sell-side analysts predict that Skyworks Solutions will post 5.39 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.37%. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

Insider Activity

In related news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the sale, the senior vice president now owns 15,960 shares in the company, valued at approximately $1,404,639.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Robert John Terry sold 10,522 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the sale, the senior vice president now directly owns 15,960 shares in the company, valued at $1,404,639.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Carlos S. Bori sold 10,177 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the transaction, the senior vice president now owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,684 shares of company stock valued at $3,232,333 in the last 90 days. 0.34% of the stock is owned by company insiders.

Institutional Trading of Skyworks Solutions

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Skyworks Solutions by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after acquiring an additional 745,374 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Skyworks Solutions by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,831,154 shares of the semiconductor manufacturer’s stock worth $477,173,000 after purchasing an additional 176,070 shares in the last quarter. Vulcan Value Partners LLC raised its holdings in Skyworks Solutions by 38.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock worth $481,552,000 after buying an additional 1,262,964 shares during the period. Pzena Investment Management LLC raised its holdings 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 worth $435,943,000 after buying an additional 661,144 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in Skyworks Solutions by 54.9% in the second quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock valued at $370,768,000 after buying an additional 1,233,618 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.