Skyworks Solutions (SWKS) Cut to “Underperform” at Bank of America

Bank of America lowered shares of Skyworks Solutions (NASDAQ:SWKS) from a neutral rating to an underperform rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports. Bank of America currently has $75.00 price objective on the semiconductor manufacturer’s stock, down from their previous price objective of $92.00.

A number of other research firms have also issued reports on SWKS. Canaccord Genuity lowered their target price on Skyworks Solutions from $115.00 to $102.00 and set a buy rating for the company in a research note on Friday, November 9th. Citigroup lowered Skyworks Solutions from a buy rating to a neutral rating in a research note on Monday, November 12th. Oppenheimer lowered their target price on Skyworks Solutions from $120.00 to $110.00 and set an outperform rating for the company in a research note on Friday, November 9th. Charter Equity reiterated a market perform rating on shares of Skyworks Solutions in a research note on Friday, November 9th. Finally, Cowen reiterated a hold rating on shares of Skyworks Solutions in a research note on Friday, November 9th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the stock. Skyworks Solutions currently has an average rating of Hold and a consensus price target of $106.01.

SWKS stock opened at $70.60 on Tuesday. Skyworks Solutions has a 1 year low of $68.58 and a 1 year high of $115.98. The stock has a market capitalization of $12.48 billion, a PE ratio of 10.65, a P/E/G ratio of 0.86 and a beta of 0.64.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.02. Skyworks Solutions had a return on equity of 30.59% and a net margin of 23.74%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts expect that Skyworks Solutions will post 6.74 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 issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Monday, November 26th. Skyworks Solutions’s dividend payout ratio is presently 22.93%.

In other Skyworks Solutions news, Director David J. Aldrich sold 10,000 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $91.30, for a total transaction of $913,000.00. Following the transaction, the director now owns 152,252 shares of the company’s stock, valued at approximately $13,900,607.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David J. Aldrich sold 5,500 shares of the stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $90.48, for a total value of $497,640.00. Following the transaction, the director now directly owns 147,752 shares in the company, valued at approximately $13,368,600.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,500 shares of company stock worth $2,197,150. 0.47% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in Skyworks Solutions by 3.8% during the 3rd quarter. Legal & General Group Plc now owns 869,183 shares of the semiconductor manufacturer’s stock worth $78,808,000 after buying an additional 31,437 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Skyworks Solutions by 6,078.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 69,574 shares of the semiconductor manufacturer’s stock worth $767,000 after purchasing an additional 68,448 shares during the last quarter. Krane Funds Advisors LLC lifted its holdings in shares of Skyworks Solutions by 20.1% in the 3rd quarter. Krane Funds Advisors LLC now owns 7,900 shares of the semiconductor manufacturer’s stock worth $717,000 after purchasing an additional 1,322 shares during the last quarter. Coe Capital Management LLC lifted its holdings in shares of Skyworks Solutions by 34.7% in the 3rd quarter. Coe Capital Management LLC now owns 9,381 shares of the semiconductor manufacturer’s stock worth $851,000 after purchasing an additional 2,415 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Skyworks Solutions by 13.7% in the 3rd quarter. Nordea Investment Management AB now owns 153,613 shares of the semiconductor manufacturer’s stock worth $13,935,000 after purchasing an additional 18,513 shares during the last quarter. 81.96% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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