Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $60.00 by Analysts at Bank of America

Skyworks Solutions (NASDAQ:SWKS) had its price objective cut by Bank of America from $88.00 to $60.00 in a report issued on Thursday,Benzinga reports. They currently have an underperform rating on the semiconductor manufacturer’s stock.

SWKS has been the topic of a number of other research reports. Morgan Stanley lowered their price objective on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 13th. Citigroup raised their target price on shares of Skyworks Solutions from $72.00 to $84.00 and gave the company a “sell” rating in a research note on Friday, January 10th. Mizuho lowered shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $105.00 to $62.00 in a research report on Thursday. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, November 13th. Finally, Barclays dropped their price objective on Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $83.78.

Skyworks Solutions Price Performance

NASDAQ SWKS opened at $65.60 on Thursday. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $10.54 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. Skyworks Solutions has a 12-month low of $62.01 and a 12-month high of $120.86. The company has a 50 day moving average price of $89.37 and a two-hundred day moving average price of $95.52.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. As a group, equities analysts predict that Skyworks Solutions will post 4.45 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a yield of 4.27%. Skyworks Solutions’s payout ratio is currently 75.68%.

Insiders Place Their Bets

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the sale, the senior vice president now directly owns 15,960 shares in the company, valued at $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the company. Erste Asset Management GmbH acquired a new stake in shares of Skyworks Solutions during the 3rd quarter worth about $27,000. Golden State Wealth Management LLC bought a new stake in Skyworks Solutions during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Skyworks Solutions during the fourth quarter worth approximately $29,000. Investors Research Corp raised its stake in shares of Skyworks Solutions by 167.7% in the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 213 shares during the last quarter. Finally, Matrix Trust Co acquired a new position in shares of Skyworks Solutions in the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions Company Profile

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.