Barclays Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $80.00

Skyworks Solutions (NASDAQ:SWKS) had its price target cut by Barclays from $87.00 to $80.00 in a report published on Wednesday morning,Benzinga reports. They currently have an underweight rating on the semiconductor manufacturer’s stock.

A number of other research firms also recently weighed in on SWKS. Mizuho dropped their target price on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday. Loop Capital assumed coverage on Skyworks Solutions in a research note on Monday. They issued a “hold” rating and a $90.00 price target for the company. B. Riley reduced their target price on Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Stifel Nicolaus boosted their price objective on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Skyworks Solutions has an average rating of “Hold” and an average price target of $101.59.

Skyworks Solutions Trading Down 4.4 %

Shares of SWKS opened at $83.18 on Wednesday. The business’s 50-day moving average price is $95.79 and its 200-day moving average price is $100.49. The stock has a market cap of $13.29 billion, a PE ratio of 22.48, a P/E/G ratio of 3.95 and a beta of 1.21. Skyworks Solutions has a twelve month low of $82.13 and a twelve month high of $120.86. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.73% and a net margin of 14.27%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the firm posted $1.95 EPS. The company’s revenue was down 15.9% compared to the same quarter last year. On average, equities analysts forecast that Skyworks Solutions will post 5.39 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.37%. Skyworks Solutions’s dividend payout ratio (DPR) is 75.68%.

Insider Activity

In other news, SVP Carlos S. Bori sold 9,321 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $101.97, for a total transaction of $950,462.37. Following the completion of the transaction, the senior vice president now directly owns 37,203 shares of the company’s stock, valued at $3,793,589.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Carlos S. Bori sold 9,321 shares of Skyworks Solutions stock in a transaction on Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the sale, the senior vice president now owns 37,203 shares of the company’s stock, valued at $3,793,589.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robert John Terry sold 1,821 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $90.16, for a total value of $164,181.36. Following the sale, the senior vice president now owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,684 shares of company stock valued at $3,232,333 in the last 90 days. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Skyworks Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in Skyworks Solutions in the second quarter worth approximately $27,000. Rothschild Investment LLC bought a new position in shares of Skyworks Solutions during the 2nd quarter valued at approximately $27,000. Investors Research Corp increased its holdings in Skyworks Solutions by 167.7% in the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 213 shares in the last quarter. Blue Trust Inc. increased its stake 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 worth $36,000 after purchasing an additional 149 shares in the last quarter. Finally, Matrix Trust Co purchased a new position in shares of Skyworks Solutions during the 3rd quarter valued at $39,000. 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.