Craig Hallum Raises Skyworks Solutions (NASDAQ:SWKS) Price Target to $140.00

Skyworks Solutions (NASDAQ:SWKS) had its target price raised by Craig Hallum from $125.00 to $140.00 in a report issued on Wednesday morning, Marketbeat reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

Several other brokerages have also commented on SWKS. Barclays lifted their price objective on Skyworks Solutions from $85.00 to $115.00 and gave the stock an equal weight rating in a report on Tuesday, July 30th. TD Cowen boosted their price target on Skyworks Solutions from $90.00 to $110.00 and gave the company a hold rating in a research note on Wednesday. UBS Group lowered their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Wells Fargo & Company cut their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set an equal weight rating for the company in a research report on Wednesday, May 1st. Finally, B. Riley upgraded shares of Skyworks Solutions from a neutral rating to a buy rating and increased their price target for the stock from $96.00 to $130.00 in a research report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $113.94.

Skyworks Solutions Price Performance

NASDAQ SWKS opened at $104.70 on Wednesday. Skyworks Solutions has a one year low of $85.06 and a one year high of $120.86. The stock has a 50-day moving average of $105.55 and a 200 day moving average of $103.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.75. The company has a market capitalization of $16.72 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 5.13 and a beta of 1.23.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates of $1.21. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The firm had revenue of $905.50 million during the quarter, compared to analyst estimates of $900.41 million. During the same period in the previous year, the business posted $1.50 earnings per share. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, sell-side analysts forecast that Skyworks Solutions will post 5.14 EPS for the current year.

Skyworks Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be issued a $0.70 dividend. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Tuesday, August 20th. Skyworks Solutions’s payout ratio is currently 51.13%.

Insider Buying and Selling at Skyworks Solutions

In other news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $110.00, for a total value of $49,720.00. Following the sale, the vice president now directly owns 9,564 shares of the company’s stock, valued at $1,052,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Philip Matthew Carter sold 452 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $110.00, for a total transaction of $49,720.00. Following the completion of the transaction, the vice president now directly owns 9,564 shares in the company, valued at approximately $1,052,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert A. Schriesheim sold 25,433 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the completion of the sale, the director now owns 60,881 shares in the company, valued at approximately $5,495,727.87. The disclosure for this sale can be found here. Insiders sold 26,337 shares of company stock valued at $2,399,797 in the last 90 days. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SWKS. Pzena Investment Management LLC purchased a new position in shares of Skyworks Solutions in the 4th quarter worth approximately $302,309,000. Norges Bank purchased a new position in Skyworks Solutions during the fourth quarter worth $226,266,000. Swedbank AB bought a new position in Skyworks Solutions during the first quarter valued at $110,086,000. Vanguard Group Inc. raised its stake in shares of Skyworks Solutions by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock valued at $2,101,619,000 after acquiring an additional 745,374 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Skyworks Solutions by 2,156.7% in the 4th quarter. KBC Group NV now owns 440,372 shares of the semiconductor manufacturer’s stock worth $49,506,000 after acquiring an additional 420,858 shares during the last quarter. 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.