Skyworks Solutions (NASDAQ:SWKS) Cut to Hold at TD Cowen

TD Cowen lowered shares of Skyworks Solutions (NASDAQ:SWKS) from a buy rating to a hold rating in a research report released on Wednesday, Marketbeat Ratings reports. The firm currently has $90.00 price objective on the semiconductor manufacturer’s stock, down from their prior price objective of $125.00.

A number of other research firms have also recently commented on SWKS. B. Riley raised their price target on shares of Skyworks Solutions from $110.00 to $115.00 and gave the stock a neutral rating in a report on Wednesday, January 31st. StockNews.com lowered Skyworks Solutions from a buy rating to a hold rating in a research report on Friday, March 29th. Piper Sandler reiterated a neutral rating and issued a $90.00 price target on shares of Skyworks Solutions in a report on Thursday, January 4th. KeyCorp downgraded Skyworks Solutions from an overweight rating to a sector weight rating in a report on Monday, April 8th. Finally, Susquehanna increased their target price on Skyworks Solutions from $120.00 to $125.00 and gave the stock a positive rating in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $108.86.

Skyworks Solutions Stock Up 3.1 %

Shares of NASDAQ SWKS opened at $92.51 on Wednesday. The company has a market cap of $14.82 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.67 and a beta of 1.35. The company has a current ratio of 2.79, a quick ratio of 3.51 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 12 month low of $85.06 and a 12 month high of $115.69. The stock has a 50-day moving average price of $103.64 and a two-hundred day moving average price of $101.82.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly 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 business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.33 earnings per share. As a group, analysts forecast that Skyworks Solutions will post 5.65 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

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 dividend of $0.68 per share. The ex-dividend date is Monday, May 20th. This represents a $2.72 annualized dividend and a dividend yield of 2.94%. Skyworks Solutions’s dividend payout ratio is currently 51.13%.

Insider Activity

In other Skyworks Solutions news, CEO Liam Griffin purchased 11,142 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the acquisition, the chief executive officer now owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Skyworks Solutions

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas purchased a new stake in shares of Skyworks Solutions during the 1st quarter worth approximately $27,000. Access Investment Management LLC purchased a new stake in Skyworks Solutions in the first quarter worth $31,000. Global Wealth Management Investment Advisory Inc. raised its stake in shares of 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 valued at $31,000 after buying an additional 155 shares during the period. 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 during the last quarter. Finally, Milestone Investment Advisors LLC bought a new position in shares of Skyworks Solutions during the 3rd quarter worth $34,000. Institutional investors 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.