Skyworks Solutions (NASDAQ:SWKS) Given New $120.00 Price Target at B. Riley

Skyworks Solutions (NASDAQ:SWKS) had its price objective decreased by B. Riley from $140.00 to $120.00 in a report published on Thursday, Benzinga reports. B. Riley currently has a buy rating on the semiconductor manufacturer’s stock.

Several other research firms have also issued reports on SWKS. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Skyworks Solutions from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Craig Hallum increased their target price on shares of Skyworks Solutions from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. TD Cowen raised their price target on shares of Skyworks Solutions from $90.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Bank of America raised their target price on Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of “Hold” and an average target price of $111.06.

Skyworks Solutions Stock Up 0.8 %

Shares of SWKS stock traded up $0.75 during trading hours on Thursday, reaching $95.83. The company had a trading volume of 65,774 shares, compared to its average volume of 2,345,772. The company has a market cap of $15.31 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 4.34 and a beta of 1.20. The business has a fifty day simple moving average of $100.50 and a 200-day simple moving average of $101.56. Skyworks Solutions has a 12 month low of $85.06 and a 12 month high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.21. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The firm had revenue of $905.50 million during the quarter, compared to analyst estimates of $900.41 million. During the same quarter in the prior year, the business posted $1.50 EPS. The business’s revenue was down 15.5% compared to the same quarter last year. On average, research analysts expect that Skyworks Solutions will post 5.21 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.92%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, August 20th. Skyworks Solutions’s payout ratio is presently 57.73%.

Insider Buying and Selling at Skyworks Solutions

In other news, SVP Reza Kasnavi sold 1,843 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $107.47, for a total transaction of $198,067.21. Following the completion of the transaction, the senior vice president now owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Reza Kasnavi sold 1,843 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $107.47, for a total transaction of $198,067.21. Following the sale, the senior vice president now owns 17,455 shares in the company, valued at approximately $1,875,888.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the completion of the transaction, the senior vice president now owns 37,203 shares of the company’s stock, valued at $3,793,589.91. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,341 shares of company stock valued at $2,142,110 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

A number of large investors have recently modified their holdings of SWKS. Sequoia Financial Advisors LLC boosted its holdings in shares of Skyworks Solutions by 4.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock valued at $239,000 after buying an additional 87 shares in the last quarter. HB Wealth Management LLC grew its holdings in Skyworks Solutions by 3.0% in the first quarter. HB Wealth Management LLC now owns 3,219 shares of the semiconductor manufacturer’s stock worth $349,000 after purchasing an additional 94 shares during the period. AlphaMark Advisors LLC increased its stake in shares of Skyworks Solutions by 14.8% during the second quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock valued at $83,000 after purchasing an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Skyworks Solutions by 0.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock worth $1,468,000 after purchasing an additional 100 shares in the last quarter. Finally, Zega Financial LLC boosted its position in shares of Skyworks Solutions by 5.0% in the 2nd quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock worth $224,000 after purchasing an additional 100 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

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.