Skyworks Solutions (NASDAQ:SWKS) Downgraded by Barclays

by · The Markets Daily

Barclays cut shares of Skyworks Solutions (NASDAQ:SWKS – Free Report) from an equal weight rating to an underweight rating in a research note published on Thursday morning, Marketbeat.com reports. Barclays currently has $87.00 target price on the semiconductor manufacturer’s stock, down from their prior target price of $115.00.

Other equities analysts also recently issued reports about the company. Robert W. Baird lifted their target price on Skyworks Solutions from $90.00 to $108.00 and gave the company a neutral rating in a research report on Wednesday, July 31st. Rosenblatt Securities increased their target price on shares of Skyworks Solutions from $120.00 to $130.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Stifel Nicolaus boosted their price target on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. Craig Hallum increased their price objective on Skyworks Solutions from $125.00 to $140.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Finally, B. Riley raised Skyworks Solutions from a neutral rating to a buy rating and boosted their target price for the stock from $96.00 to $130.00 in a research note on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $112.53.

Check Out Our Latest Stock Analysis on SWKS

Skyworks Solutions Price Performance

Shares of SWKS opened at $97.30 on Thursday. The firm has a 50-day simple moving average of $101.46 and a two-hundred day simple moving average of $102.09. The stock has a market cap of $15.54 billion, a PE ratio of 20.06, a P/E/G ratio of 4.38 and a beta of 1.20. Skyworks Solutions has a 1-year low of $85.06 and a 1-year 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 – Get Free Report) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The company had revenue of $905.50 million for the quarter, compared to analyst estimates of $900.41 million. During the same quarter in the previous year, the company earned $1.50 earnings per share. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. As a group, analysts forecast that Skyworks Solutions will post 5.21 EPS for the current year.

Skyworks Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a $0.70 dividend. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Tuesday, August 20th. Skyworks Solutions’s payout ratio is presently 57.73%.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total value of $54,240.00. Following the completion of the sale, the vice president now owns 9,112 shares in the company, valued at approximately $1,093,440. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total value of $54,240.00. Following the transaction, the vice president now directly owns 9,112 shares in the company, valued at approximately $1,093,440. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Reza Kasnavi sold 1,843 shares of the 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 sale, the senior vice president now 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 sold a total of 11,616 shares of company stock valued at $1,202,770 in the last three months. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Skyworks Solutions

Several hedge funds have recently modified their holdings of the stock. BNP Paribas purchased a new position in shares of Skyworks Solutions during the 1st quarter worth approximately $27,000. Rothschild Investment LLC purchased a new position in Skyworks Solutions in the second quarter worth $27,000. Innealta Capital LLC acquired a new stake in Skyworks Solutions in the second quarter valued at $27,000. Access Investment Management LLC purchased a new stake in shares of Skyworks Solutions during the 1st quarter worth $31,000. Finally, Blue Trust Inc. grew its stake in shares of Skyworks Solutions by 79.7% during the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 149 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Company Profile

(Get Free Report)

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.

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