Citigroup Inc. upgraded shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) from a sell rating to a buy rating in a research note released on Tuesday, Marketbeat reports. The brokerage currently has $125.00 price objective on the semiconductor manufacturer’s stock.

A number of other research firms have also recently issued reports on SWKS. Vetr upgraded shares of Skyworks Solutions from a hold rating to a buy rating and set a $113.68 price objective for the company in a research report on Monday, June 12th. BidaskClub upgraded shares of Skyworks Solutions from a buy rating to a strong-buy rating in a research report on Thursday, August 17th. Argus initiated coverage on shares of Skyworks Solutions in a research report on Thursday, July 6th. They set a buy rating and a $120.00 price objective for the company. Zacks Investment Research cut shares of Skyworks Solutions from a buy rating to a hold rating in a research report on Thursday, August 17th. Finally, B. Riley reiterated a buy rating and set a $120.00 price objective on shares of Skyworks Solutions in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $111.71.

Shares of Skyworks Solutions (NASDAQ:SWKS) opened at 104.64 on Tuesday. The stock’s 50 day moving average is $104.30 and its 200 day moving average is $101.72. Skyworks Solutions has a 1-year low of $65.76 and a 1-year high of $112.11. The company has a market capitalization of $19.23 billion, a PE ratio of 20.08 and a beta of 0.81.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.05. The business had revenue of $900.80 million during the quarter, compared to analysts’ expectations of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 EPS. On average, equities research analysts anticipate that Skyworks Solutions will post $6.39 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 8th were issued a dividend of $0.32 per share. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, August 4th. This represents a $1.28 annualized dividend and a yield of 1.22%. Skyworks Solutions’s dividend payout ratio is presently 24.57%.

In other Skyworks Solutions news, insider Liam Griffin sold 2,610 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $99.98, for a total transaction of $260,947.80. Following the transaction, the insider now owns 50,408 shares in the company, valued at $5,039,791.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christine King sold 3,705 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $106.82, for a total transaction of $395,768.10. Following the transaction, the director now owns 16,641 shares in the company, valued at approximately $1,777,591.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,371 shares of company stock worth $1,505,093. Corporate insiders own 0.49% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Skyworks Solutions by 2.8% in the second quarter. Vanguard Group Inc. now owns 18,326,001 shares of the semiconductor manufacturer’s stock valued at $1,758,380,000 after purchasing an additional 502,995 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Skyworks Solutions by 3,071.2% in the first quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock valued at $1,181,019,000 after purchasing an additional 11,673,555 shares during the last quarter. State Street Corp raised its holdings in shares of Skyworks Solutions by 0.5% in the first quarter. State Street Corp now owns 7,739,120 shares of the semiconductor manufacturer’s stock valued at $758,285,000 after purchasing an additional 38,898 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Skyworks Solutions by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 2,652,096 shares of the semiconductor manufacturer’s stock valued at $254,468,000 after purchasing an additional 95,860 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Skyworks Solutions by 9.6% in the first quarter. Geode Capital Management LLC now owns 2,170,250 shares of the semiconductor manufacturer’s stock valued at $212,388,000 after purchasing an additional 189,313 shares during the last quarter. Institutional investors own 80.86% of the company’s stock.

About Skyworks Solutions

Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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