JPMorgan Chase & Co. Raises Skyworks Solutions (NASDAQ:SWKS) Price Target to $82.00

Skyworks Solutions (NASDAQ:SWKS) had its target price upped by JPMorgan Chase & Co. from $80.00 to $82.00 in a research report released on Thursday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the semiconductor manufacturer’s stock.

A number of other research analysts also recently commented on SWKS. Barclays downgraded shares of Skyworks Solutions from an overweight rating to an equal weight rating and increased their price objective for the company from $75.00 to $80.00 in a research note on Thursday, July 18th. Cascend Securities upgraded shares of Skyworks Solutions from a hold rating to a buy rating and set a $84.00 price objective on the stock in a research note on Monday, June 10th. Mizuho reduced their price objective on shares of Skyworks Solutions from $89.00 to $75.00 and set a neutral rating on the stock in a research note on Wednesday, June 5th. Raymond James upgraded shares of Skyworks Solutions from a market perform rating to an outperform rating and set a $90.00 price objective on the stock in a research note on Thursday, July 18th. Finally, Bank of America restated an underperform rating and issued a $80.00 price target (up from $70.00) on shares of Skyworks Solutions in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $86.40.

NASDAQ SWKS traded down $2.75 during trading hours on Thursday, reaching $77.52. 2,638,096 shares of the company traded hands, compared to its average volume of 2,183,765. Skyworks Solutions has a 12 month low of $60.12 and a 12 month high of $94.39. The stock has a market capitalization of $13.86 billion, a PE ratio of 11.69, a PEG ratio of 1.49 and a beta of 1.02. The stock has a 50 day simple moving average of $80.52.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.14. Skyworks Solutions had a net margin of 26.10% and a return on equity of 26.60%. The firm had revenue of $767.00 million for the quarter, compared to the consensus estimate of $767.71 million. During the same period in the prior year, the firm posted $1.64 EPS. The firm’s revenue was down 14.2% compared to the same quarter last year. On average, equities analysts predict that Skyworks Solutions will post 5.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, August 27th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, August 26th. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.38. Skyworks Solutions’s dividend payout ratio (DPR) is 22.93%.

In related news, Director David J. Aldrich sold 10,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $85.88, for a total value of $858,800.00. Following the sale, the director now owns 213,032 shares of the company’s stock, valued at approximately $18,295,188.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David J. Aldrich sold 5,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $75.50, for a total transaction of $377,500.00. Following the completion of the sale, the director now directly owns 208,032 shares in the company, valued at approximately $15,706,416. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,000 shares of company stock worth $4,159,053. Corporate insiders own 0.64% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SWKS. FMR LLC increased its holdings in shares of Skyworks Solutions by 63.8% in the 1st quarter. FMR LLC now owns 3,517,246 shares of the semiconductor manufacturer’s stock worth $290,102,000 after acquiring an additional 1,370,337 shares during the period. Artisan Partners Limited Partnership acquired a new stake in shares of Skyworks Solutions in the 1st quarter worth about $81,554,000. DNB Asset Management AS increased its holdings in shares of Skyworks Solutions by 195.3% in the 2nd quarter. DNB Asset Management AS now owns 835,404 shares of the semiconductor manufacturer’s stock worth $64,552,000 after acquiring an additional 552,548 shares during the period. Banco Santander S.A. acquired a new stake in shares of Skyworks Solutions in the 1st quarter worth about $41,397,000. Finally, Scout Investments Inc. acquired a new stake in shares of Skyworks Solutions in the 1st quarter worth about $35,163,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

About Skyworks Solutions

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, 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 locked loops, phase shifters, 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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