Barclays Increases Skyworks Solutions (NASDAQ:SWKS) Price Target to $115.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective lifted by Barclays from $85.00 to $115.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the semiconductor manufacturer’s stock.

A number of other equities analysts also recently commented on SWKS. JPMorgan Chase & Co. reduced their target price on shares of Skyworks Solutions from $120.00 to $105.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Benchmark downgraded shares of Skyworks Solutions from a buy rating to a hold rating in a research note on Wednesday, May 1st. Mizuho reduced their target price on shares of Skyworks Solutions from $125.00 to $115.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Piper Sandler reduced their target price on shares of Skyworks Solutions from $105.00 to $95.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus reduced their price target on shares of Skyworks Solutions from $122.00 to $112.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $113.94.

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS opened at $104.70 on Tuesday. The firm has a 50-day simple moving average of $105.55 and a 200-day simple moving average of $103.30. The stock has a market capitalization of $16.80 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 5.41 and a beta of 1.23. The company has a quick ratio of 3.81, a current ratio of 5.19 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 52 week low of $85.06 and a 52 week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last issued its 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 15.48%. The company had revenue of $905.50 million for the quarter, compared to the consensus estimate of $900.41 million. During the same period in the previous year, the firm earned $1.50 earnings per share. Skyworks Solutions’s quarterly revenue was down 15.5% compared to the same quarter last year. On average, equities analysts predict that Skyworks Solutions will post 5.14 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The company 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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.67%. The ex-dividend date is Tuesday, August 20th. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s payout ratio is 51.13%.

Insiders Place Their Bets

In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total transaction of $54,240.00. Following the completion of the transaction, the vice president now owns 9,112 shares in the company, valued at approximately $1,093,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total transaction of $54,240.00. Following the completion of the transaction, the vice president now owns 9,112 shares in the company, valued at approximately $1,093,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert A. Schriesheim sold 25,433 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 60,881 shares of the company’s stock, valued at approximately $5,495,727.87. The disclosure for this sale can be found here. Insiders sold 26,337 shares of company stock worth $2,399,797 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SWKS. BNP Paribas acquired a new position in shares of Skyworks Solutions in the 1st quarter valued at $27,000. Innealta Capital LLC acquired a new position in shares of Skyworks Solutions in the 2nd quarter valued at $27,000. Rothschild Investment LLC acquired a new position in shares of Skyworks Solutions in the 2nd quarter valued at $27,000. Access Investment Management LLC acquired a new position in shares of Skyworks Solutions in the 1st quarter valued at $31,000. Finally, Blue Trust Inc. raised its position in Skyworks Solutions by 79.7% in the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 149 shares during the last quarter. 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.