Citigroup Issues Positive Forecast for Skyworks Solutions (NASDAQ:SWKS) Stock Price

Skyworks Solutions (NASDAQ:SWKS) had its price target lifted by Citigroup from $72.00 to $84.00 in a research note released on Friday,Benzinga reports. They currently have a sell rating on the semiconductor manufacturer’s stock.

SWKS has been the subject of several other research reports. B. Riley cut their price target on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Morgan Stanley cut their price target on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 13th. JPMorgan Chase & Co. cut their price target on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Piper Sandler cut their price target on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Finally, Susquehanna cut their price target on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.71.

Skyworks Solutions Stock Performance

Shares of SWKS stock opened at $90.20 on Friday. The stock has a market cap of $14.42 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. The business has a 50-day simple moving average of $88.30 and a 200-day simple moving average of $98.33. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 52-week low of $82.13 and a 52-week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.95 EPS. On average, equities analysts expect that Skyworks Solutions will post 4.45 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. Skyworks Solutions’s dividend payout ratio is currently 75.68%.

Insider Transactions at Skyworks Solutions

In other news, SVP Robert John Terry sold 10,522 shares of the stock in a transaction on Monday, November 11th. The stock was 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 approximately $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the completion of the sale, the senior vice president now owns 27,026 shares in the company, valued at approximately $2,638,548.38. The trade was a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,520 shares of company stock worth $2,083,803 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Skyworks Solutions

Several hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC acquired a new stake in shares of Skyworks Solutions in the fourth quarter valued at $60,000. Diversified Trust Co raised its stake in Skyworks Solutions by 64.7% in the fourth quarter. Diversified Trust Co now owns 4,169 shares of the semiconductor manufacturer’s stock valued at $370,000 after buying an additional 1,637 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Skyworks Solutions in the fourth quarter valued at $204,000. Principal Financial Group Inc. raised its stake in Skyworks Solutions by 3.2% in the third quarter. Principal Financial Group Inc. now owns 200,873 shares of the semiconductor manufacturer’s stock valued at $19,840,000 after buying an additional 6,302 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in Skyworks Solutions by 17.4% in the third quarter. Synovus Financial Corp now owns 5,123 shares of the semiconductor manufacturer’s stock valued at $506,000 after buying an additional 760 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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.