Morgan Stanley Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $87.00

Skyworks Solutions (NASDAQ:SWKS) had its target price cut by Morgan Stanley from $117.00 to $87.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor manufacturer’s stock.

Several other research firms have also weighed in on SWKS. TD Cowen increased their target price on Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Barclays lowered shares of Skyworks Solutions from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $115.00 to $87.00 in a research note on Thursday, October 10th. Piper Sandler lowered their target price on shares of Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Robert W. Baird lifted their price target on shares of Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, B. Riley lowered their price objective on shares of Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Skyworks Solutions presently has a consensus rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Stock Down 0.4 %

Shares of NASDAQ:SWKS opened at $83.69 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.01 and a quick ratio of 4.29. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 1.53 and a beta of 1.21. The company has a 50 day moving average of $95.14 and a 200-day moving average of $100.16. Skyworks Solutions has a one year low of $82.13 and a one year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.95 EPS. On average, sell-side analysts forecast that Skyworks Solutions will post 5.39 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a yield of 3.35%. Skyworks Solutions’s payout ratio is currently 75.68%.

Insiders Place Their Bets

In other news, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was 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 of the company’s stock, valued at approximately $2,638,548.38. This represents a 27.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert John Terry sold 10,522 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the transaction, the senior vice president now owns 15,960 shares in the company, valued at approximately $1,404,639.60. The trade was a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,841 shares of company stock valued at $3,034,265 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyworks Solutions

A number of institutional investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in shares of Skyworks Solutions in the second quarter valued at approximately $27,000. Rothschild Investment LLC bought a new stake in Skyworks Solutions in the 2nd quarter valued at $27,000. Erste Asset Management GmbH acquired a new stake in Skyworks Solutions during the 3rd quarter valued at $27,000. Investors Research Corp boosted its position in Skyworks Solutions by 167.7% during the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 213 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Skyworks Solutions by 79.7% in the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 149 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.