Skyworks Solutions (NASDAQ:SWKS) Downgraded to “Hold” at Benchmark

Benchmark cut shares of Skyworks Solutions (NASDAQ:SWKS) from a buy rating to a hold rating in a report released on Wednesday, MarketBeat.com reports.

A number of other research firms have also recently commented on SWKS. KeyCorp cut Skyworks Solutions from an overweight rating to a sector weight rating in a report on Monday, April 8th. B. Riley upped their price objective on Skyworks Solutions from $110.00 to $115.00 and gave the company a neutral rating in a report on Wednesday, January 31st. Piper Sandler reiterated a neutral rating and issued a $90.00 price objective on shares of Skyworks Solutions in a report on Thursday, January 4th. Rosenblatt Securities reiterated a buy rating and issued a $130.00 price objective on shares of Skyworks Solutions in a report on Wednesday, January 31st. Finally, StockNews.com cut Skyworks Solutions from a buy rating to a hold rating in a report on Friday, March 29th. One research 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.com, the company presently has a consensus rating of Hold and an average target price of $109.05.

Skyworks Solutions Price Performance

SWKS stock opened at $90.30 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.02 and a quick ratio of 3.51. The business has a 50 day simple moving average of $104.21 and a 200-day simple moving average of $101.99. The firm has a market capitalization of $14.47 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.98 and a beta of 1.35. Skyworks Solutions has a 1 year low of $85.06 and a 1 year high of $115.69.

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

Skyworks Solutions Dividend Announcement

The company also recently disclosed 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. This represents a $2.72 annualized dividend and a dividend yield of 3.01%. Skyworks Solutions’s payout ratio is 51.13%.

Hedge Funds Weigh In On Skyworks Solutions

Several hedge funds have recently made changes to their positions in the company. Access Investment Management LLC purchased a new position in shares of Skyworks Solutions during the first quarter worth about $31,000. Valley Brook Capital Group Inc. purchased a new position in shares of Skyworks Solutions during the first quarter worth about $268,000. Resonant Capital Advisors LLC purchased a new position in shares of Skyworks Solutions during the first quarter worth about $202,000. BNP Paribas Financial Markets grew its holdings in shares of Skyworks Solutions by 36.0% during the first quarter. BNP Paribas Financial Markets now owns 851,427 shares of the semiconductor manufacturer’s stock worth $92,227,000 after purchasing an additional 225,475 shares during the last quarter. Finally, Peterson Wealth Services grew its holdings in shares of Skyworks Solutions by 17.0% during the first quarter. Peterson Wealth Services now owns 21,796 shares of the semiconductor manufacturer’s stock worth $2,361,000 after purchasing an additional 3,164 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

About Skyworks Solutions

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.