Piper Sandler Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $70.00

Skyworks Solutions (NASDAQ:SWKS) had its target price trimmed by Piper Sandler from $85.00 to $70.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor manufacturer’s stock.

Other equities research analysts also recently issued research reports about the company. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, November 13th. Craig Hallum cut their target price on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Stifel Nicolaus lowered Skyworks Solutions from a “buy” rating to a “hold” rating and reduced their target price for the company from $105.00 to $62.00 in a report on Thursday. Loop Capital assumed coverage on shares of Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 price target on the stock. Finally, Morgan Stanley reduced their price objective on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $83.78.

Skyworks Solutions Trading Down 24.7 %

Shares of SWKS opened at $65.60 on Thursday. Skyworks Solutions has a fifty-two week low of $62.01 and a fifty-two week high of $120.86. The business has a 50-day moving average of $89.37 and a 200 day moving average of $95.52. The firm has a market cap of $10.54 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.24 and a current ratio of 5.54.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. As a group, research analysts forecast that Skyworks Solutions will post 4.45 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.27%. Skyworks Solutions’s dividend payout ratio is 75.68%.

Insider Buying and Selling

In related news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions 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 transaction, the senior vice president now owns 15,960 shares in the company, valued at $1,404,639.60. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Skyworks Solutions in the 4th quarter valued at about $7,947,000. Arizona State Retirement System increased its stake in Skyworks Solutions by 0.9% in the 4th quarter. Arizona State Retirement System now owns 46,378 shares of the semiconductor manufacturer’s stock worth $4,113,000 after purchasing an additional 410 shares during the period. Proficio Capital Partners LLC bought a new stake in Skyworks Solutions in the fourth quarter valued at approximately $2,509,000. Seizert Capital Partners LLC boosted its stake in shares of Skyworks Solutions by 8.8% during the fourth quarter. Seizert Capital Partners LLC now owns 377,048 shares of the semiconductor manufacturer’s stock valued at $33,437,000 after purchasing an additional 30,580 shares during the period. Finally, M&T Bank Corp grew its holdings in shares of Skyworks Solutions by 9.5% in the fourth quarter. M&T Bank Corp now owns 12,443 shares of the semiconductor manufacturer’s stock worth $1,104,000 after purchasing an additional 1,075 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

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.