Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $83.00 by Analysts at Citigroup

Skyworks Solutions (NASDAQ:SWKS) had its price objective cut by Citigroup from $85.00 to $83.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a sell rating on the semiconductor manufacturer’s stock.

Several other equities research analysts also recently commented on the stock. Rosenblatt Securities reduced their target price on shares of Skyworks Solutions from $130.00 to $120.00 and set a buy rating on the stock in a research note on Wednesday. Mizuho decreased their price objective on shares of Skyworks Solutions from $125.00 to $115.00 and set a buy rating on the stock in a research note on Wednesday. Benchmark lowered shares of Skyworks Solutions from a buy rating to a hold rating in a report on Wednesday. Stifel Nicolaus reduced their target price on Skyworks Solutions from $122.00 to $112.00 and set a buy rating on the stock in a report on Wednesday. Finally, B. Riley raised their price target on Skyworks Solutions from $110.00 to $115.00 and gave the company a neutral rating in a report on Wednesday, January 31st. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $108.86.

Skyworks Solutions Stock Performance

SWKS stock traded up $2.79 on Thursday, reaching $92.51. 3,562,773 shares of the company were exchanged, compared to its average volume of 2,569,420. Skyworks Solutions has a 12 month low of $85.06 and a 12 month high of $115.69. The stock’s fifty day moving average price is $103.41 and its 200 day moving average price is $101.80. The firm has a market capitalization of $14.84 billion, a PE ratio of 17.39, a PEG ratio of 3.88 and a beta of 1.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.19 and a quick ratio of 3.51.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm earned $2.33 EPS. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, research analysts anticipate that Skyworks Solutions will post 5.65 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st will be given a $0.68 dividend. The ex-dividend date is Monday, May 20th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.94%. Skyworks Solutions’s dividend payout ratio is 51.13%.

Insider Activity at Skyworks Solutions

In other news, CEO Liam Griffin purchased 11,142 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the transaction, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Skyworks Solutions

Large investors have recently bought and sold shares of the business. BNP Paribas bought a new stake in Skyworks Solutions during the 1st quarter worth approximately $27,000. Access Investment Management LLC bought a new stake in Skyworks Solutions during the 1st quarter worth approximately $31,000. Global Wealth Management Investment Advisory Inc. increased its stake in 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 worth $31,000 after purchasing an additional 155 shares in the last quarter. ST Germain D J Co. Inc. increased its stake in Skyworks Solutions by 60.5% during the 1st quarter. ST Germain D J Co. Inc. now owns 345 shares of the semiconductor manufacturer’s stock worth $37,000 after purchasing an additional 130 shares in the last quarter. Finally, Milestone Investment Advisors LLC bought a new stake in Skyworks Solutions during the 3rd quarter worth approximately $34,000. 85.43% of the stock is owned by institutional investors.

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.