Piper Sandler Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $95.00

Skyworks Solutions (NASDAQ:SWKS) had its target price decreased by Piper Sandler from $105.00 to $95.00 in a research note released on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor manufacturer’s stock.

SWKS has been the topic of several other reports. TD Cowen lowered shares of Skyworks Solutions from a buy rating to a hold rating and lowered their price objective for the stock from $125.00 to $90.00 in a research note on Wednesday. B. Riley boosted their price target on Skyworks Solutions from $110.00 to $115.00 and gave the stock a neutral rating in a research report on Wednesday, January 31st. Susquehanna reaffirmed a neutral rating and issued a $90.00 price objective (down from $125.00) on shares of Skyworks Solutions in a research report on Wednesday. Benchmark downgraded Skyworks Solutions from a buy rating to a hold rating in a research note on Wednesday. Finally, StockNews.com downgraded Skyworks Solutions from a buy rating to a hold rating in a report on Friday, March 29th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $109.05.

Skyworks Solutions Trading Down 15.3 %

Shares of Skyworks Solutions stock opened at $90.30 on Wednesday. The stock has a market cap of $14.47 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.98 and a beta of 1.35. The company has a quick ratio of 3.51, a current ratio of 5.02 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 12-month low of $85.06 and a 12-month high of $115.69. The business’s 50 day moving average is $104.21 and its 200-day moving average is $101.99.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.20%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 earnings per share. Equities research analysts predict that Skyworks Solutions will post 5.65 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 3.01%. Skyworks Solutions’s dividend payout ratio is presently 51.13%.

Hedge Funds Weigh In On Skyworks Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Skyworks Solutions by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,656,578 shares of the semiconductor manufacturer’s stock worth $2,097,372,000 after purchasing an additional 123,564 shares in the last quarter. Victory Capital Management Inc. grew its stake in Skyworks Solutions by 3.4% during the third quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock worth $407,474,000 after buying an additional 136,188 shares in the last quarter. Invesco Ltd. increased its holdings in Skyworks Solutions by 11.8% in the 3rd quarter. Invesco Ltd. now owns 3,035,245 shares of the semiconductor manufacturer’s stock valued at $299,245,000 after buying an additional 321,243 shares during the period. FIL Ltd raised its position in shares of Skyworks Solutions by 2.4% in the 4th quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after buying an additional 64,389 shares in the last quarter. Finally, Pzena Investment Management LLC bought a new stake in shares of Skyworks Solutions during the 4th quarter worth approximately $302,309,000. 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.