Citigroup Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $72.00

Skyworks Solutions (NASDAQ:SWKS) had its price target decreased by Citigroup from $83.00 to $72.00 in a research note issued to investors on Wednesday,Benzinga reports. Citigroup currently has a sell rating on the semiconductor manufacturer’s stock.

Several other analysts also recently weighed in on SWKS. Robert W. Baird lifted their target price on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Rosenblatt Securities boosted their price objective on Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday. Finally, The Goldman Sachs Group raised shares of Skyworks Solutions to a “hold” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock opened at $83.69 on Wednesday. The business’s fifty day simple moving average is $95.14 and its 200-day simple moving average is $100.20. The company has a quick ratio of 4.29, a current ratio of 3.01 and a debt-to-equity ratio of 0.16. The firm has a market cap of $13.37 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.53 and a beta of 1.21. Skyworks Solutions has a 52 week low of $82.13 and a 52 week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the company posted $1.95 earnings per share. Skyworks Solutions’s revenue for the quarter was down 15.9% compared to the same quarter last year. Equities analysts forecast that Skyworks Solutions will post 5.39 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

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

Insider Activity

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now owns 15,960 shares in the company, valued at $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was 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 approximately $2,638,548.38. The trade was a 27.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,841 shares of company stock worth $3,034,265. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Skyworks Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Skyworks Solutions by 4.0% in the 1st 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. Charles Schwab Investment Management Inc. increased its stake in Skyworks Solutions by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,831,154 shares of the semiconductor manufacturer’s stock valued at $477,173,000 after purchasing an additional 176,070 shares during the period. Vulcan Value Partners LLC increased its stake in Skyworks Solutions by 38.8% in the second quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock valued at $481,552,000 after purchasing an additional 1,262,964 shares during the period. Geode Capital Management LLC raised its holdings in shares of Skyworks Solutions by 0.7% in the third quarter. Geode Capital Management LLC now owns 4,143,639 shares of the semiconductor manufacturer’s stock valued at $408,410,000 after buying an additional 28,009 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in shares of Skyworks Solutions by 19.3% during the second quarter. Pzena Investment Management LLC now owns 4,090,292 shares of the semiconductor manufacturer’s stock worth $435,943,000 after buying an additional 661,144 shares during the period. 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.