Skyworks Solutions (SWKS) Price Target Cut to $92.00 by Analysts at Loop Capital

Skyworks Solutions (NASDAQ:SWKS) had its price target trimmed by Loop Capital to $92.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity reduced their price target on Skyworks Solutions from $115.00 to $102.00 and set a buy rating on the stock in a research note on Friday, November 9th. Needham & Company LLC reduced their price target on Skyworks Solutions to $99.00 and set a buy rating on the stock in a research note on Friday, November 9th. Craig Hallum reduced their price target on Skyworks Solutions from $120.00 to $105.00 and set a buy rating on the stock in a research note on Friday, November 9th. DA Davidson reduced their price target on Skyworks Solutions to $115.00 and set a buy rating on the stock in a research note on Monday, November 12th. Finally, MKM Partners reduced their price target on Skyworks Solutions to $85.00 and set a buy rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the company. Skyworks Solutions currently has a consensus rating of Hold and an average target price of $94.62.

SWKS stock traded up $1.43 during midday trading on Thursday, hitting $70.02. The stock had a trading volume of 2,484,000 shares, compared to its average volume of 2,897,650. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 0.92 and a beta of 0.66. Skyworks Solutions has a 52-week low of $60.12 and a 52-week 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 for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.02. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Skyworks Solutions had a return on equity of 30.59% and a net margin of 23.74%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 earnings per share. As a group, equities research analysts predict that Skyworks Solutions will post 6.67 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 18th. Investors of record on Tuesday, November 27th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, November 26th. This represents a $1.52 annualized dividend and a dividend yield of 2.17%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 22.93%.

In related news, Director David J. Aldrich sold 3,000 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $86.25, for a total transaction of $258,750.00. Following the sale, the director now directly owns 144,251 shares of the company’s stock, valued at $12,441,648.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.47% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. First Hawaiian Bank lifted its holdings in Skyworks Solutions by 251.9% in the fourth quarter. First Hawaiian Bank now owns 475 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 340 shares during the period. NEXT Financial Group Inc bought a new position in shares of Skyworks Solutions in the third quarter worth about $108,000. Polaris Greystone Financial Group LLC raised its stake in shares of Skyworks Solutions by 4,813.3% in the third quarter. Polaris Greystone Financial Group LLC now owns 1,474 shares of the semiconductor manufacturer’s stock worth $134,000 after buying an additional 1,444 shares during the period. Centaurus Financial Inc. bought a new position in shares of Skyworks Solutions in the second quarter worth about $147,000. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Skyworks Solutions in the third quarter worth about $159,000. 80.53% 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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