Skyworks Solutions (NASDAQ:SWKS) Given New $72.00 Price Target at Citigroup

Skyworks Solutions (NASDAQ:SWKS) had its price target reduced by Citigroup from $83.00 to $72.00 in a research report released on Wednesday,Benzinga reports. They currently have a sell rating on the semiconductor manufacturer’s stock.

Several other research analysts have also weighed in on the stock. Robert W. Baird upped their target price on shares of Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Loop Capital started coverage on Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 price target on the stock. Mizuho dropped their price objective on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Rosenblatt Securities raised their price target on Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.00.

Skyworks Solutions Stock Performance

Shares of SWKS stock opened at $83.69 on Wednesday. The company has a current ratio of 3.01, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 12-month low of $82.13 and a 12-month high of $120.86. The company has a market cap of $13.37 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 1.53 and a beta of 1.21. The stock has a 50 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 data 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. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business posted $1.95 earnings per share. Skyworks Solutions’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 year.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

Insider Activity

In other Skyworks Solutions news, SVP Robert John Terry sold 1,821 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $90.16, for a total value of $164,181.36. Following the sale, the senior vice president now directly owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the completion of the sale, the senior vice president now owns 27,026 shares of the company’s stock, valued at $2,638,548.38. This trade represents a 27.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,841 shares of company stock valued at $3,034,265 over the last quarter. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

Hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its holdings in shares of Skyworks Solutions by 4.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock worth $239,000 after buying an additional 87 shares during the last quarter. AlphaMark Advisors LLC increased its stake in Skyworks Solutions by 14.8% during the second quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock worth $83,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Skyworks Solutions by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock worth $1,468,000 after acquiring an additional 100 shares during the last quarter. Zega Financial LLC lifted its stake in shares of Skyworks Solutions by 5.0% in the 2nd quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock valued at $224,000 after purchasing an additional 100 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co grew its holdings in shares of Skyworks Solutions by 0.7% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock worth $1,569,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds 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.