B. Riley Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $110.00

Skyworks Solutions (NASDAQ:SWKS) had its price target reduced by B. Riley from $120.00 to $110.00 in a research report sent to investors on Thursday, Marketbeat reports. B. Riley currently has a buy rating on the semiconductor manufacturer’s stock.

Several other equities research analysts have also recently weighed in on the stock. Mizuho dropped their price target on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday. Craig Hallum cut their target price on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Robert W. Baird increased their price objective on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. cut their price objective on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $83.69 on Thursday. The firm has a market cap of $13.37 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.53 and a beta of 1.21. The company has a 50-day simple moving average of $95.14 and a two-hundred day simple moving average of $100.16. The company has a quick ratio of 4.29, a current ratio of 3.01 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 12-month low of $82.13 and a 12-month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company earned $1.95 EPS. Skyworks Solutions’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, equities analysts forecast that Skyworks Solutions will post 5.39 EPS for the current year.

Skyworks Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio (DPR) is presently 75.68%.

Insider Buying and Selling at Skyworks Solutions

In related news, SVP Robert John Terry sold 10,522 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares in the company, valued at $1,404,639.60. The trade was a 39.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carlos S. Bori sold 10,177 shares of the company’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 completion of the transaction, the senior vice president now directly owns 27,026 shares in the company, valued at $2,638,548.38. This trade represents a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,841 shares of company stock worth $3,034,265. 0.34% of the stock is owned by insiders.

Institutional Trading of Skyworks Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Vulcan Value Partners LLC boosted its position in shares of Skyworks Solutions by 38.8% during the second quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock valued at $481,552,000 after buying an additional 1,262,964 shares during the last quarter. Pacer Advisors Inc. raised its position in Skyworks Solutions by 54.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock worth $370,768,000 after buying an additional 1,233,618 shares during the last quarter. Swedbank AB bought a new position in Skyworks Solutions during the 1st quarter valued at about $110,086,000. Barclays PLC boosted its holdings in shares of Skyworks Solutions by 96.4% during the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock valued at $191,023,000 after acquiring an additional 949,407 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Skyworks Solutions by 52.0% in the third quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock worth $223,994,000 after acquiring an additional 775,470 shares during the period. Institutional investors 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.