Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $70.00 by Analysts at The Goldman Sachs Group

Skyworks Solutions (NASDAQ:SWKS) had its price objective reduced by The Goldman Sachs Group from $92.00 to $70.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the semiconductor manufacturer’s stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research note on Thursday. Susquehanna dropped their price target on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Barclays cut their price target 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. Stifel Nicolaus cut Skyworks Solutions from a “buy” rating to a “hold” rating and lowered their price objective for the company from $105.00 to $62.00 in a research note on Thursday. Finally, Benchmark reissued a “hold” rating on shares of Skyworks Solutions in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Skyworks Solutions presently has an average rating of “Hold” and an average price target of $83.78.

Skyworks Solutions Trading Down 24.7 %

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. Skyworks Solutions has a 52 week low of $62.01 and a 52 week high of $120.86. The stock has a market cap of $10.54 billion, a PE ratio of 17.73, a PEG ratio of 1.96 and a beta of 1.14. The business has a 50 day moving average of $89.37 and a 200-day moving average of $95.52.

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

Skyworks Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 4.27%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 75.68%.

Insider Activity at Skyworks Solutions

In related news, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the transaction, the senior vice president now owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Skyworks Solutions

A number of hedge funds have recently modified their holdings of the business. Erste Asset Management GmbH purchased a new position in Skyworks Solutions during the third quarter valued at $27,000. Golden State Wealth Management LLC bought a new position in shares of Skyworks Solutions in the fourth quarter worth about $28,000. SBI Securities Co. Ltd. bought a new position in shares of Skyworks Solutions in the fourth quarter worth about $29,000. Investors Research Corp lifted its position in shares of Skyworks Solutions by 167.7% during the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 213 shares in the last quarter. Finally, Matrix Trust Co bought a new position in shares of Skyworks Solutions during the 3rd quarter valued at approximately $39,000. Institutional investors 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.