Skyworks Solutions (NASDAQ:SWKS) Lowered to Underweight at Barclays

Barclays downgraded shares of Skyworks Solutions (NASDAQ:SWKS) from an equal weight rating to an underweight rating in a report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has $87.00 price target on the semiconductor manufacturer’s stock, down from their prior price target of $115.00.

SWKS has been the topic of a number of other research reports. Piper Sandler reiterated a neutral rating and issued a $115.00 target price (up previously from $95.00) on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Stifel Nicolaus raised their price objective on Skyworks Solutions from $112.00 to $125.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Craig Hallum upped their target price on Skyworks Solutions from $125.00 to $140.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Robert W. Baird increased their price objective on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group upgraded Skyworks Solutions to a hold rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Skyworks Solutions has an average rating of Hold and a consensus price target of $112.53.

Skyworks Solutions Stock Performance

Skyworks Solutions stock opened at $97.30 on Thursday. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a twelve month low of $85.06 and a twelve month high of $120.86. The company’s 50-day moving average price is $101.46 and its 200-day moving average price is $102.09. The company has a market cap of $15.54 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 4.38 and a beta of 1.20.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. The business had revenue of $905.50 million during the quarter, compared to analyst estimates of $900.41 million. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period last year, the company earned $1.50 EPS. On average, equities research analysts forecast that Skyworks Solutions will post 5.21 EPS for the current fiscal year.

Skyworks Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Tuesday, August 20th. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s dividend payout ratio is currently 57.73%.

Insider Activity at Skyworks Solutions

In other news, VP Philip Matthew Carter sold 452 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total transaction of $54,240.00. Following the sale, the vice president now directly owns 9,112 shares of the company’s stock, valued at $1,093,440. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the stock in a transaction 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 transaction, the vice president now directly owns 9,112 shares of the company’s stock, valued at $1,093,440. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Carlos S. Bori sold 9,321 shares of Skyworks Solutions stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total transaction of $950,462.37. Following the completion of the sale, the senior vice president now owns 37,203 shares in the company, valued at approximately $3,793,589.91. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,616 shares of company stock worth $1,202,770 in the last three months. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Skyworks Solutions

A number of institutional investors have recently made changes to their positions in SWKS. Duality Advisers LP acquired a new stake in shares of Skyworks Solutions in the first quarter valued at approximately $1,517,000. Brookstone Capital Management purchased a new position in shares of Skyworks Solutions during the 1st quarter worth $262,000. FIL Ltd grew its holdings in shares of Skyworks Solutions by 2.4% in the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after purchasing an additional 64,389 shares during the period. Advisors Asset Management Inc. increased its position in Skyworks Solutions by 73.3% during the first quarter. Advisors Asset Management Inc. now owns 16,067 shares of the semiconductor manufacturer’s stock worth $1,740,000 after purchasing an additional 6,795 shares during the last quarter. Finally, M&G Plc purchased a new position in Skyworks Solutions during the second quarter worth about $797,000. 85.43% of the stock is owned by institutional investors and hedge funds.

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.