Canaccord Genuity Cuts Skyworks Solutions (SWKS) Price Target to $102.00

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Skyworks Solutions (NASDAQ:SWKS) had its price objective trimmed by Canaccord Genuity from $115.00 to $102.00 in a research note issued to investors on Friday morning, The Fly reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

Other equities research analysts also recently issued research reports about the stock. Cowen reaffirmed a hold rating and set a $105.00 price objective (up previously from $100.00) on shares of Skyworks Solutions in a research report on Friday, July 20th. Craig Hallum lowered their price objective on shares of Skyworks Solutions from $120.00 to $105.00 and set a buy rating for the company in a research report on Friday. Needham & Company LLC lowered their price objective on shares of Skyworks Solutions to $99.00 and set a buy rating for the company in a research report on Friday. Loop Capital lowered their price objective on shares of Skyworks Solutions to $102.00 and set a buy rating for the company in a research report on Friday. Finally, Summit Insights downgraded shares of Skyworks Solutions from a buy rating to a hold rating in a research report on Friday. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $107.79.

Shares of Skyworks Solutions stock traded down $6.74 during trading on Friday, reaching $76.66. The company had a trading volume of 8,436,241 shares, compared to its average volume of 1,960,861. The firm has a market cap of $14.79 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 0.82 and a beta of 0.64. Skyworks Solutions has a fifty-two week low of $75.15 and a fifty-two week high of $115.98.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.02. Skyworks Solutions had a net margin of 23.78% and a return on equity of 30.31%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts expect that Skyworks Solutions will post 7.34 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Tuesday, November 27th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Monday, November 26th. Skyworks Solutions’s dividend payout ratio (DPR) is 22.93%.

In other Skyworks Solutions news, Director David J. Aldrich sold 3,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $86.25, for a total value of $258,750.00. Following the completion of the transaction, the director now owns 144,251 shares in the company, valued at approximately $12,441,648.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David J. Aldrich sold 10,000 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $92.89, for a total transaction of $928,900.00. Following the completion of the transaction, the director now owns 152,252 shares of the company’s stock, valued at approximately $14,142,688.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,500 shares of company stock valued at $3,126,050. 0.47% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DnB Asset Management AS boosted its holdings in shares of Skyworks Solutions by 7.8% in the second quarter. DnB Asset Management AS now owns 23,616 shares of the semiconductor manufacturer’s stock valued at $2,282,000 after acquiring an additional 1,700 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Skyworks Solutions by 46.2% in the second quarter. IFM Investors Pty Ltd now owns 8,354 shares of the semiconductor manufacturer’s stock valued at $807,000 after acquiring an additional 2,638 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Skyworks Solutions by 19.1% in the second quarter. State of Alaska Department of Revenue now owns 36,533 shares of the semiconductor manufacturer’s stock valued at $3,529,000 after acquiring an additional 5,870 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of Skyworks Solutions by 5.2% in the second quarter. Xact Kapitalforvaltning AB now owns 57,803 shares of the semiconductor manufacturer’s stock valued at $5,587,000 after acquiring an additional 2,879 shares in the last quarter. Finally, Manning & Napier Group LLC boosted its holdings in shares of Skyworks Solutions by 2.0% in the second quarter. Manning & Napier Group LLC now owns 1,451,579 shares of the semiconductor manufacturer’s stock valued at $140,293,000 after acquiring an additional 28,220 shares in the last quarter. Hedge funds and other institutional investors own 80.71% of the company’s stock.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

Further Reading: Cash Flow

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Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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