Skyworks Solutions (NASDAQ:SWKS) Given New $84.00 Price Target at Citigroup

Skyworks Solutions (NASDAQ:SWKSFree Report) had its price target raised by Citigroup from $72.00 to $84.00 in a research note released on Friday,Benzinga reports. They currently have a sell rating on the semiconductor manufacturer’s stock.

Several other equities analysts also recently issued reports on the stock. Loop Capital began coverage on shares of Skyworks Solutions in a research note on Monday, November 11th. They issued a “hold” rating and a $90.00 price objective for the company. Susquehanna decreased their target price on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price objective on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Finally, Piper Sandler lowered their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $101.71.

Check Out Our Latest Report on Skyworks Solutions

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS opened at $90.20 on Friday. The stock’s 50-day simple moving average is $88.33 and its 200-day simple moving average is $98.11. The firm has a market capitalization of $14.42 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. Skyworks Solutions has a fifty-two week low of $82.13 and a fifty-two week high of $120.86. 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:SWKSGet Free Report) last released its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the company earned $1.95 earnings per share. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. As a group, equities research analysts forecast that Skyworks Solutions will post 4.45 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio (DPR) is 75.68%.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

Several institutional investors have recently modified their holdings of the company. Ridgewood Investments LLC acquired a new position in Skyworks Solutions during the fourth quarter worth $60,000. Diversified Trust Co increased its position in shares of Skyworks Solutions by 64.7% in the fourth quarter. Diversified Trust Co now owns 4,169 shares of the semiconductor manufacturer’s stock valued at $370,000 after buying an additional 1,637 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Skyworks Solutions during the 4th quarter worth $204,000. Principal Financial Group Inc. boosted its position in shares of Skyworks Solutions by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 200,873 shares of the semiconductor manufacturer’s stock worth $19,840,000 after buying an additional 6,302 shares in the last quarter. Finally, Synovus Financial Corp grew its stake in Skyworks Solutions by 17.4% in the 3rd quarter. Synovus Financial Corp now owns 5,123 shares of the semiconductor manufacturer’s stock valued at $506,000 after acquiring an additional 760 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Company Profile

(Get Free Report)

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.

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