Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $72.00 by Analysts at Morgan Stanley

Skyworks Solutions (NASDAQ:SWKS) had its price target lowered by Morgan Stanley from $87.00 to $72.00 in a research note issued to investors on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor manufacturer’s stock.

A number of other research analysts have also weighed in on SWKS. Mizuho lowered shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and cut their price target for the company from $105.00 to $62.00 in a research note on Thursday. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $80.00 target price (down from $120.00) on shares of Skyworks Solutions in a research note on Thursday. Piper Sandler dropped their price target on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday. Susquehanna cut their price target on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Finally, Loop Capital assumed coverage on Skyworks Solutions in a report on Monday, November 11th. They set a “hold” rating and a $90.00 price objective for the company. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Skyworks Solutions presently has a consensus rating of “Hold” and an average target price of $83.78.

Skyworks Solutions Price Performance

SWKS opened at $65.60 on Thursday. The stock has a market cap of $10.54 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.96 and a beta of 1.14. Skyworks Solutions has a 12 month low of $62.01 and a 12 month high of $120.86. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $89.37 and a 200 day simple moving average of $95.52.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. On average, research analysts expect that Skyworks Solutions will post 4.45 EPS for the current year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Monday, February 24th. Skyworks Solutions’s payout ratio is presently 75.68%.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 15,960 shares in the company, valued at $1,404,639.60. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Institutional Trading of Skyworks Solutions

Several hedge funds and other institutional investors have recently modified their holdings of SWKS. Charles Schwab Investment Management Inc. lifted its position in Skyworks Solutions by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,098,497 shares of the semiconductor manufacturer’s stock worth $452,135,000 after acquiring an additional 267,343 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Skyworks Solutions by 0.7% during the third quarter. Geode Capital Management LLC now owns 4,143,639 shares of the semiconductor manufacturer’s stock worth $408,410,000 after purchasing an additional 28,009 shares during the period. FMR LLC lifted its holdings in Skyworks Solutions by 7.3% during the 3rd quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer’s stock worth $265,853,000 after purchasing an additional 182,130 shares during the last quarter. Wellington Management Group LLP boosted its stake in Skyworks Solutions by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock valued at $223,994,000 after purchasing an additional 775,470 shares during the period. Finally, Barclays PLC grew its holdings in Skyworks Solutions by 96.4% in the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock valued at $191,023,000 after buying an additional 949,407 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.