Skyworks Solutions (NASDAQ:SWKS) Given New $120.00 Price Target at Rosenblatt Securities

Skyworks Solutions (NASDAQ:SWKS) had its price target decreased by Rosenblatt Securities from $130.00 to $120.00 in a report issued on Wednesday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the semiconductor manufacturer’s stock.

SWKS has been the topic of a number of other research reports. Benchmark lowered Skyworks Solutions from a buy rating to a hold rating in a research report on Wednesday. Susquehanna reissued a neutral rating and set a $90.00 price target (down from $125.00) on shares of Skyworks Solutions in a research note on Wednesday. TD Cowen downgraded Skyworks Solutions from a buy rating to a hold rating and lowered their price objective for the company from $125.00 to $90.00 in a research note on Wednesday. KeyCorp lowered shares of Skyworks Solutions from an overweight rating to a sector weight rating in a report on Monday, April 8th. Finally, B. Riley boosted their target price 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. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Skyworks Solutions has an average rating of Hold and an average target price of $108.86.

Skyworks Solutions Price Performance

SWKS stock opened at $92.51 on Wednesday. The stock has a market cap of $14.82 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.67 and a beta of 1.35. 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 company has a 50 day simple moving average of $103.64 and a 200 day simple moving average of $101.82. Skyworks Solutions has a 1 year low of $85.06 and a 1 year high of $115.69.

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

Skyworks Solutions Announces Dividend

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

Insider Buying and Selling

In other Skyworks Solutions news, CEO Liam Griffin purchased 11,142 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the acquisition, the chief executive officer now owns 104,153 shares of the company’s stock, valued at $9,373,770. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SWKS. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Skyworks Solutions by 40.3% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 22,300 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after purchasing an additional 6,400 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Skyworks Solutions by 2.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 16,911 shares of the semiconductor manufacturer’s stock worth $1,667,000 after acquiring an additional 362 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Skyworks Solutions by 639.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 161,155 shares of the semiconductor manufacturer’s stock valued at $15,888,000 after acquiring an additional 139,372 shares during the period. Xponance Inc. increased its holdings in shares of Skyworks Solutions by 4.1% during the third quarter. Xponance Inc. now owns 21,230 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after acquiring an additional 845 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in shares of Skyworks Solutions by 22.3% during the third quarter. Stratos Wealth Partners LTD. now owns 3,818 shares of the semiconductor manufacturer’s stock worth $376,000 after purchasing an additional 695 shares during the period. 85.43% of the stock is owned by institutional investors.

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.