Rosenblatt Securities Boosts Skyworks Solutions (NASDAQ:SWKS) Price Target to $130.00

Skyworks Solutions (NASDAQ:SWKS) had its price target raised by Rosenblatt Securities from $120.00 to $130.00 in a report released on Wednesday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the semiconductor manufacturer’s stock.

SWKS has been the topic of several other research reports. Piper Sandler reaffirmed a neutral rating and issued a $115.00 price target (up previously from $95.00) on shares of Skyworks Solutions in a research note on Wednesday. TD Cowen boosted their price target on Skyworks Solutions from $90.00 to $110.00 and gave the company a hold rating in a research note on Wednesday. Craig Hallum lifted their price objective on Skyworks Solutions from $125.00 to $140.00 and gave the company a buy rating in a research report on Wednesday. Citigroup cut their price objective on Skyworks Solutions from $85.00 to $83.00 and set a sell rating for the company in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company cut their price objective on Skyworks Solutions from $110.00 to $100.00 and set an equal weight rating for the company in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $113.94.

Skyworks Solutions Price Performance

Shares of SWKS stock opened at $104.70 on Wednesday. The stock’s fifty day simple moving average is $105.55 and its 200 day simple moving average is $103.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 3.81. The firm has a market cap of $16.72 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 5.13 and a beta of 1.23. Skyworks Solutions has a one year low of $85.06 and a one year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, meeting the consensus estimate of $1.21. The business had revenue of $905.50 million for the quarter, compared to analyst estimates of $900.41 million. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. Skyworks Solutions’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 EPS. On average, analysts expect that Skyworks Solutions will post 5.14 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, August 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.67%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s payout ratio is presently 51.13%.

Insider Transactions at Skyworks Solutions

In related news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total value of $54,240.00. Following the completion of the sale, the vice president now owns 9,112 shares in the company, valued at $1,093,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total value of $54,240.00. Following the completion of the sale, the vice president now owns 9,112 shares in the company, valued at $1,093,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert A. Schriesheim sold 25,433 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $90.27, for a total value of $2,295,836.91. Following the completion of the sale, the director now owns 60,881 shares of the company’s stock, valued at approximately $5,495,727.87. The disclosure for this sale can be found here. Insiders sold a total of 26,337 shares of company stock worth $2,399,797 over the last 90 days. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Skyworks Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas acquired a new position in Skyworks Solutions in the first quarter valued at about $27,000. Innealta Capital LLC acquired a new position in Skyworks Solutions in the second quarter valued at about $27,000. Rothschild Investment LLC acquired a new position in Skyworks Solutions in the second quarter valued at about $27,000. Access Investment Management LLC acquired a new position in Skyworks Solutions in the first quarter valued at about $31,000. Finally, Blue Trust Inc. grew its stake in Skyworks Solutions by 79.7% in the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 149 shares during the period. Institutional investors own 85.43% of the company’s stock.

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.