JPMorgan Chase & Co. Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $105.00

Skyworks Solutions (NASDAQ:SWKS) had its target price reduced by JPMorgan Chase & Co. from $120.00 to $105.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the semiconductor manufacturer’s stock.

A number of other analysts have also recently commented on the stock. Piper Sandler dropped their target price on shares of Skyworks Solutions from $105.00 to $95.00 and set a neutral rating on the stock in a report on Wednesday. StockNews.com cut shares of Skyworks Solutions from a buy rating to a hold rating in a report on Friday, March 29th. Rosenblatt Securities lowered their target price on shares of Skyworks Solutions from $130.00 to $120.00 and set a buy rating for the company in a report on Wednesday. Susquehanna restated a neutral rating and issued a $90.00 price target (down previously from $125.00) on shares of Skyworks Solutions in a research note on Wednesday. Finally, Stifel Nicolaus lowered their price objective on Skyworks Solutions from $122.00 to $112.00 and set a buy rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $108.86.

Skyworks Solutions Stock Performance

Shares of SWKS opened at $92.51 on Wednesday. The company has a 50-day simple moving average of $103.64 and a two-hundred day simple moving average of $101.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.79 and a quick ratio of 3.51. The firm has a market capitalization of $14.82 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.67 and a beta of 1.35. Skyworks Solutions has a one year low of $85.06 and a one year high of $115.69.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. On average, analysts anticipate that Skyworks Solutions will post 5.65 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be given a $0.68 dividend. The ex-dividend date is Monday, May 20th. This represents a $2.72 annualized dividend and a yield of 2.94%. Skyworks Solutions’s payout ratio is 51.13%.

Insider Activity

In other Skyworks Solutions news, CEO Liam Griffin acquired 11,142 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the completion of the acquisition, the chief executive officer now owns 104,153 shares in the company, valued at approximately $9,373,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas purchased a new stake in shares of Skyworks Solutions in the 1st quarter worth $27,000. Global Wealth Management Investment Advisory Inc. increased its position in Skyworks Solutions by 98.1% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 313 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 155 shares in the last quarter. Access Investment Management LLC bought a new position in shares of Skyworks Solutions in the first quarter worth about $31,000. Milestone Investment Advisors LLC bought a new position in shares of Skyworks Solutions in the third quarter worth about $34,000. Finally, ST Germain D J Co. Inc. lifted its position in shares of Skyworks Solutions by 60.5% during the 1st quarter. ST Germain D J Co. Inc. now owns 345 shares of the semiconductor manufacturer’s stock valued at $37,000 after buying an additional 130 shares in the last quarter. Hedge funds and other 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.