B. Riley Raises Skyworks Solutions (NASDAQ:SWKS) Price Target to $145.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective raised by B. Riley from $115.00 to $145.00 in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

SWKS has been the topic of a number of other research reports. Cascend Securities boosted their price objective on shares of Skyworks Solutions from $115.00 to $130.00 and gave the stock a buy rating in a report on Monday, January 6th. Mizuho raised shares of Skyworks Solutions from a neutral rating to a buy rating and boosted their price objective for the stock from $90.00 to $132.00 in a report on Friday, January 10th. Raymond James reissued an outperform rating and set a $110.00 price objective (up previously from $90.00) on shares of Skyworks Solutions in a report on Wednesday, November 13th. Cowen reissued an outperform rating and set a $105.00 price objective (up previously from $95.00) on shares of Skyworks Solutions in a report on Wednesday, November 13th. They noted that the move was a valuation call. Finally, Loop Capital boosted their price objective on shares of Skyworks Solutions to $120.00 and gave the stock a buy rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Skyworks Solutions currently has an average rating of Buy and an average target price of $103.87.

Shares of NASDAQ:SWKS opened at $120.42 on Monday. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 1.44 and a beta of 1.12. The firm’s 50-day simple moving average is $113.37 and its 200-day simple moving average is $91.30. Skyworks Solutions has a fifty-two week low of $66.29 and a fifty-two week high of $125.75.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The business had revenue of $827.00 million for the quarter, compared to the consensus estimate of $824.01 million. Skyworks Solutions had a net margin of 25.28% and a return on equity of 24.41%. The business’s quarterly revenue was down 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 earnings per share. As a group, sell-side analysts forecast that Skyworks Solutions will post 5.82 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Monday, December 2nd. Skyworks Solutions’s dividend payout ratio (DPR) is presently 30.82%.

In other Skyworks Solutions news, Director David J. Aldrich sold 40,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $97.47, for a total value of $3,898,800.00. Following the sale, the director now owns 213,032 shares of the company’s stock, valued at $20,764,229.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Aldrich sold 10,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $99.07, for a total transaction of $990,700.00. Following the completion of the sale, the director now directly owns 213,032 shares in the company, valued at approximately $21,105,080.24. The disclosure for this sale can be found here. Insiders sold 257,694 shares of company stock worth $26,941,663 in the last ninety days. Insiders own 0.64% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen Asset Management LLC raised its position in shares of Skyworks Solutions by 20,005.5% in the second quarter. Nuveen Asset Management LLC now owns 937,520 shares of the semiconductor manufacturer’s stock valued at $72,442,000 after buying an additional 932,857 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Skyworks Solutions by 26.4% in the second quarter. AQR Capital Management LLC now owns 3,708,676 shares of the semiconductor manufacturer’s stock valued at $286,347,000 after buying an additional 775,470 shares during the last quarter. Robecosam AG acquired a new position in shares of Skyworks Solutions in the third quarter valued at approximately $50,433,000. Platinum Investment Management Ltd. raised its position in shares of Skyworks Solutions by 32.4% in the second quarter. Platinum Investment Management Ltd. now owns 2,553,417 shares of the semiconductor manufacturer’s stock valued at $197,303,000 after buying an additional 625,029 shares during the last quarter. Finally, Cambiar Investors LLC acquired a new position in shares of Skyworks Solutions in the third quarter valued at approximately $45,851,000. 83.03% of the stock is currently owned by institutional investors.

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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