Oppenheimer Lowers Skyworks Solutions (SWKS) Price Target to $110.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective reduced by Oppenheimer from $120.00 to $110.00 in a research note released on Friday morning. They currently have an outperform rating on the semiconductor manufacturer’s stock.

Other analysts have also issued research reports about the stock. Cowen restated a hold rating and issued a $105.00 price target (up previously from $100.00) on shares of Skyworks Solutions in a research note on Friday, July 20th. Charter Equity restated a market perform rating on shares of Skyworks Solutions in a research note on Friday. B. Riley lowered shares of Skyworks Solutions from a buy rating to a neutral rating and lowered their target price for the company from $105.00 to $89.00 in a research note on Friday. DA Davidson lowered their target price on shares of Skyworks Solutions to $125.00 and set a buy rating for the company in a research note on Friday, July 20th. Finally, Canaccord Genuity reiterated a buy rating and set a $115.00 target price on shares of Skyworks Solutions in a research note on Friday, July 20th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $107.79.

Shares of NASDAQ:SWKS traded down $6.74 during midday 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 one year low of $75.15 and a one year high of $115.98.

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

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

In other news, Director David J. Aldrich sold 10,000 shares of the business’s stock in a transaction on Friday, August 24th. The shares were 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 $14,142,688.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David J. Aldrich sold 5,500 shares of the business’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $90.48, for a total transaction of $497,640.00. Following the transaction, the director now directly owns 147,752 shares of the company’s stock, valued at approximately $13,368,600.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,500 shares of company stock valued at $3,126,050. Corporate insiders own 0.47% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Vulcan Value Partners LLC lifted its holdings in Skyworks Solutions by 21.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 6,581,779 shares of the semiconductor manufacturer’s stock valued at $636,129,000 after acquiring an additional 1,179,670 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Skyworks Solutions by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,072,364 shares of the semiconductor manufacturer’s stock valued at $296,944,000 after acquiring an additional 185,039 shares during the last quarter. LSV Asset Management lifted its holdings in Skyworks Solutions by 3,665.0% in the 3rd quarter. LSV Asset Management now owns 1,852,400 shares of the semiconductor manufacturer’s stock valued at $168,031,000 after acquiring an additional 1,803,200 shares during the last quarter. Manning & Napier Group LLC lifted its holdings in Skyworks Solutions by 2.0% in the 2nd 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 during the last quarter. Finally, FMR LLC lifted its holdings in Skyworks Solutions by 22.6% in the 3rd quarter. FMR LLC now owns 1,434,635 shares of the semiconductor manufacturer’s stock valued at $130,136,000 after acquiring an additional 264,346 shares during the last quarter. 80.71% of the stock is owned by institutional investors and hedge funds.

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.

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