Skyworks Solutions (NASDAQ:SWKS) Shares Gap Down on Analyst Downgrade

Skyworks Solutions, Inc. (NASDAQ:SWKS) gapped down prior to trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $110.00 to $100.00. The stock had previously closed at $106.59, but opened at $91.07. Wells Fargo & Company currently has an equal weight rating on the stock. Skyworks Solutions shares last traded at $91.58, with a volume of 1,894,106 shares traded.

Several other research analysts have also recently weighed in on SWKS. StockNews.com cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Friday, March 29th. JPMorgan Chase & Co. dropped their price target on Skyworks Solutions from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a report on Wednesday. TD Cowen downgraded Skyworks Solutions from a “buy” rating to a “hold” rating and lowered their target price for the company from $125.00 to $90.00 in a report on Wednesday. Finally, Rosenblatt Securities dropped their target price on Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $109.05.

Hedge Funds Weigh In On Skyworks Solutions

Institutional investors have recently bought and sold shares of the business. Global Wealth Management Investment Advisory Inc. raised its position in shares of Skyworks Solutions by 98.1% during 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. ST Germain D J Co. Inc. raised its position in Skyworks Solutions by 60.5% during the first quarter. ST Germain D J Co. Inc. now owns 345 shares of the semiconductor manufacturer’s stock valued at $37,000 after purchasing an additional 130 shares during the period. Milestone Investment Advisors LLC bought a new stake in shares of Skyworks Solutions in the 3rd quarter valued at approximately $34,000. AdvisorNet Financial Inc boosted its holdings in shares of Skyworks Solutions by 790.0% in the 4th quarter. AdvisorNet Financial Inc now owns 356 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 316 shares during the period. Finally, Vestor Capital LLC bought a new position in shares of Skyworks Solutions during the 4th quarter valued at approximately $43,000. Institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Stock Down 15.3 %

The company has a market cap of $14.47 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. The company has a fifty day moving average of $104.21 and a two-hundred day moving average of $101.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.51 and a current ratio of 5.02.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.02. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Skyworks Solutions had a net margin of 19.48% and a return on equity of 18.68%. The business’s revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the business earned $2.33 EPS. As a group, analysts anticipate that Skyworks Solutions, Inc. will post 5.63 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 3.01%. Skyworks Solutions’s payout ratio is 48.23%.

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.