Skyworks Solutions (NASDAQ:SWKS) Given New $83.00 Price Target at Citigroup

Skyworks Solutions (NASDAQ:SWKS) had its price target lowered by Citigroup from $85.00 to $83.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a sell rating on the semiconductor manufacturer’s stock.

SWKS has been the subject of several other research reports. Stifel Nicolaus cut their price objective on Skyworks Solutions from $122.00 to $112.00 and set a buy rating for the company in a report on Wednesday. Susquehanna restated a neutral rating and issued a $90.00 price objective (down previously from $125.00) on shares of Skyworks Solutions in a report on Wednesday. KeyCorp lowered Skyworks Solutions from an overweight rating to a sector weight rating in a report on Monday, April 8th. Piper Sandler cut their price objective on Skyworks Solutions from $105.00 to $95.00 and set a neutral rating for the company in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Skyworks Solutions in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $108.86.

Skyworks Solutions Trading Up 3.1 %

Shares of Skyworks Solutions stock opened at $92.51 on Thursday. The company has a quick ratio of 3.51, a current ratio of 5.19 and a debt-to-equity ratio of 0.16. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 4.00 and a beta of 1.35. The business has a fifty day simple moving average of $103.41 and a 200-day simple moving average of $101.84. Skyworks Solutions has a fifty-two week low of $85.06 and a fifty-two week high of $115.69.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $2.72 annualized dividend and a yield of 2.94%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 51.13%.

Insider Transactions at Skyworks Solutions

In related news, CEO Liam Griffin bought 11,142 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the purchase, the chief executive officer now directly owns 104,153 shares in the company, valued at $9,373,770. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyworks Solutions

Large investors have recently bought and sold shares of the stock. BNP Paribas acquired a new position in shares of Skyworks Solutions in the 1st quarter valued at $27,000. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Skyworks Solutions by 98.1% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 313 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 155 shares in the last quarter. Access Investment Management LLC acquired a new position in shares of Skyworks Solutions in the 1st quarter valued at $31,000. Milestone Investment Advisors LLC acquired a new position in shares of Skyworks Solutions in the 3rd quarter valued at $34,000. Finally, ST Germain D J Co. Inc. raised its stake in shares of Skyworks Solutions by 60.5% in the 1st quarter. ST Germain D J Co. Inc. now owns 345 shares of the semiconductor manufacturer’s stock valued at $37,000 after buying an additional 130 shares in the last quarter. 85.43% of the stock is currently 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.