Skyworks Solutions (NASDAQ:SWKS) Price Target Lowered to $115.00 at Mizuho

Skyworks Solutions (NASDAQ:SWKS) had its price target cut by Mizuho from $125.00 to $115.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

Other research analysts have also recently issued reports about the company. TD Cowen cut Skyworks Solutions from a buy rating to a hold rating and decreased their price objective for the company from $125.00 to $90.00 in a report on Wednesday. Benchmark lowered Skyworks Solutions from a buy rating to a hold rating in a research note on Wednesday. B. Riley raised their price objective on Skyworks Solutions from $110.00 to $115.00 and gave the stock a neutral rating in a research report on Wednesday, January 31st. Susquehanna reaffirmed a neutral rating and issued a $90.00 target price (down previously from $125.00) on shares of Skyworks Solutions in a research report on Wednesday. Finally, KeyCorp cut shares of Skyworks Solutions from an overweight rating to a sector weight rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $109.05.

Skyworks Solutions Stock Down 15.3 %

NASDAQ SWKS opened at $90.30 on Wednesday. The business’s fifty day simple moving average is $104.21 and its 200-day simple moving average is $101.99. The company has a quick ratio of 3.51, a current ratio of 5.02 and a debt-to-equity ratio of 0.16. The firm has a market cap of $14.47 billion, a PE ratio of 16.97, a P/E/G ratio of 1.98 and a beta of 1.35. Skyworks Solutions has a 52 week low of $85.06 and a 52 week high of $115.69.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.20%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm earned $2.33 earnings per share. Skyworks Solutions’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts anticipate that Skyworks Solutions will post 5.65 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.01%. Skyworks Solutions’s dividend payout ratio is currently 51.13%.

Hedge Funds Weigh In On Skyworks Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in SWKS. AXQ Capital LP acquired a new position in Skyworks Solutions during the 3rd quarter worth approximately $789,000. Highland Capital Management LLC grew its stake in shares of Skyworks Solutions by 91.4% during the fourth quarter. Highland Capital Management LLC now owns 42,564 shares of the semiconductor manufacturer’s stock worth $4,785,000 after purchasing an additional 20,330 shares in the last quarter. LSV Asset Management increased its holdings in Skyworks Solutions by 24.2% in the third quarter. LSV Asset Management now owns 1,741,300 shares of the semiconductor manufacturer’s stock valued at $171,675,000 after buying an additional 338,820 shares during the last quarter. International Assets Investment Management LLC raised its stake in Skyworks Solutions by 10,450.2% in the fourth quarter. International Assets Investment Management LLC now owns 84,507 shares of the semiconductor manufacturer’s stock valued at $9,500,000 after buying an additional 83,706 shares in the last quarter. Finally, abrdn plc lifted its holdings in Skyworks Solutions by 50.0% during the 4th quarter. abrdn plc now owns 90,031 shares of the semiconductor manufacturer’s stock worth $10,121,000 after buying an additional 30,022 shares during the last quarter. 85.43% of the stock is 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 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.