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

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

SWKS has been the subject of a number of other reports. Craig Hallum boosted their price objective on shares of Skyworks Solutions from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Mizuho lowered their price target on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday. Robert W. Baird boosted their target price on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their price target on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Piper Sandler decreased their price objective on shares of Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $101.00.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock opened at $83.69 on Wednesday. The business has a fifty day simple moving average of $95.14 and a two-hundred day simple moving average of $100.16. The firm has a market capitalization of $13.37 billion, a P/E ratio of 22.62, a P/E/G ratio of 1.53 and a beta of 1.21. 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.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating 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 business’s revenue was down 15.9% on a year-over-year basis. During the same period last year, the business earned $1.95 earnings per share. On average, equities analysts forecast that Skyworks Solutions will post 5.39 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The business 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 dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a yield of 3.35%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 75.68%.

Insider Activity at Skyworks Solutions

In other news, SVP Robert John Terry sold 1,821 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the transaction, the senior vice president now directly owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of the company’s 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 transaction, the senior vice president now directly owns 27,026 shares in the company, valued at $2,638,548.38. This represents a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,841 shares of company stock valued at $3,034,265 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of Skyworks Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC grew its position in 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 purchasing an additional 87 shares during the period. AlphaMark Advisors LLC boosted its stake in shares of Skyworks Solutions by 14.8% in the second quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock worth $83,000 after buying an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings 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 period. Zega Financial LLC raised its position in Skyworks Solutions by 5.0% during the second quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock valued at $224,000 after acquiring an additional 100 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its holdings in Skyworks Solutions by 0.7% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock valued at $1,569,000 after acquiring an additional 107 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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.