JPMorgan Chase & Co. Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $100.00

Skyworks Solutions (NASDAQ:SWKS) had its target price decreased by JPMorgan Chase & Co. from $120.00 to $100.00 in a research note released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the semiconductor manufacturer’s stock.

Several other equities research analysts have also commented on SWKS. Piper Sandler cut their target price on Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday. Rosenblatt Securities increased their target price on shares of Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Mizuho decreased their price target on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group raised shares of Skyworks Solutions to a “hold” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $83.69 on Wednesday. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.53 and a beta of 1.21. The company has a quick ratio of 4.29, a current ratio of 3.01 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a twelve month low of $82.13 and a twelve month high of $120.86. The stock has a fifty day simple moving average of $95.14 and a 200 day simple moving average of $100.20.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s revenue was down 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.95 EPS. Sell-side analysts expect that Skyworks Solutions will post 5.39 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently disclosed 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 3.35%. The ex-dividend date is Tuesday, December 3rd. Skyworks Solutions’s payout ratio is 75.68%.

Insider Buying and Selling at Skyworks Solutions

In related news, SVP Robert John Terry sold 10,522 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the transaction, the senior vice president now owns 15,960 shares in the company, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the completion of the sale, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. This represents a 27.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,841 shares of company stock worth $3,034,265. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SWKS. Innealta Capital LLC purchased a new stake in Skyworks Solutions during the second quarter valued at about $27,000. Rothschild Investment LLC purchased a new position in shares of Skyworks Solutions in the second quarter worth about $27,000. Erste Asset Management GmbH bought a new stake in shares of Skyworks Solutions in the third quarter valued at approximately $27,000. Investors Research Corp lifted its stake in shares of Skyworks Solutions by 167.7% during the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 213 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Skyworks Solutions by 79.7% in the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 149 shares during the period. 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.