Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $100.00 by Analysts at JPMorgan Chase & Co.

Skyworks Solutions (NASDAQ:SWKS - Free Report) had its target price lowered by JPMorgan Chase & Co. from $120.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor manufacturer's stock.

SWKS has been the topic of several other reports. Piper Sandler decreased their price objective on shares of Skyworks Solutions from $115.00 to $95.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Barclays downgraded shares of Skyworks Solutions from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $115.00 to $87.00 in a research note on Thursday, October 10th. Benchmark reissued a "hold" rating on shares of Skyworks Solutions in a research note on Wednesday. Needham & Company LLC reissued a "hold" rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Finally, Craig Hallum raised their price target on shares of Skyworks Solutions from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $101.59.

Skyworks Solutions Stock Performance

NASDAQ SWKS traded down $3.86 during mid-day trading on Wednesday, reaching $83.18. 5,700,384 shares of the stock were exchanged, compared to its average volume of 2,376,652. The business's 50 day moving average is $96.17 and its 200-day moving average is $100.61. Skyworks Solutions has a 1 year low of $82.13 and a 1 year high of $120.86. The company has a market capitalization of $13.29 billion, a P/E ratio of 22.62, a P/E/G ratio of 3.95 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 5.75.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.03. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.73%. The company's revenue was down 15.9% compared to the same quarter last year. During the same period last year, the firm posted $1.95 earnings per share. On average, equities research analysts forecast that Skyworks Solutions will post 5.39 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.37%. Skyworks Solutions's dividend payout ratio (DPR) is presently 75.68%.

Insider Buying and Selling

In related news, SVP Carlos S. Bori sold 10,177 shares of the business's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the sale, the senior vice president now directly owns 27,026 shares in the company, valued at $2,638,548.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Carlos S. Bori sold 10,177 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the sale, the senior vice president now directly owns 27,026 shares of the company's stock, valued at approximately $2,638,548.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Reza Kasnavi sold 1,843 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $107.47, for a total transaction of $198,067.21. Following the transaction, the senior vice president now directly owns 17,455 shares of the company's stock, valued at $1,875,888.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,162 shares of company stock worth $2,306,291 in the last three months. Corporate insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On Skyworks Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in SWKS. Vulcan Value Partners LLC increased its position in shares of Skyworks Solutions by 38.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer's stock worth $481,552,000 after purchasing an additional 1,262,964 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Skyworks Solutions by 54.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer's stock valued at $370,768,000 after buying an additional 1,233,618 shares during the period. Swedbank AB acquired a new position in shares of Skyworks Solutions in the 1st quarter valued at about $110,086,000. Vanguard Group Inc. boosted its holdings in shares of Skyworks Solutions by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer's stock valued at $2,101,619,000 after buying an additional 745,374 shares during the period. Finally, Mizuho Securities USA LLC boosted its holdings in shares of Skyworks Solutions by 5,769.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 726,005 shares of the semiconductor manufacturer's stock valued at $71,708,000 after buying an additional 713,636 shares during the period. Institutional investors and hedge funds own 85.43% of the company's stock.

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.