Craig Hallum Boosts Skyworks Solutions (NASDAQ:SWKS) Price Target to $140.00

Skyworks Solutions (NASDAQ:SWKS) had its price target boosted by Craig Hallum from $125.00 to $140.00 in a research report report published on Wednesday, Marketbeat.com reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

Other equities analysts also recently issued reports about the company. TD Cowen boosted their price objective on Skyworks Solutions from $90.00 to $110.00 and gave the stock a hold rating in a research report on Wednesday. Piper Sandler lowered their price objective on Skyworks Solutions from $105.00 to $95.00 and set a neutral rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price objective on Skyworks Solutions from $120.00 to $105.00 and set a neutral rating for the company in a research report on Wednesday, May 1st. Wells Fargo & Company lowered 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. Finally, Needham & Company LLC reissued a hold rating on shares of Skyworks Solutions in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $113.94.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $104.70 on Wednesday. The company has a market cap of $16.72 billion, a P/E ratio of 19.68, a P/E/G ratio of 5.13 and a beta of 1.23. 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 stock has a 50-day moving average of $105.55 and a two-hundred day moving average of $103.30. Skyworks Solutions has a 1-year low of $85.06 and a 1-year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. The company had revenue of $905.50 million during the quarter, compared to the consensus estimate of $900.41 million. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. Skyworks Solutions’s revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. As a group, analysts anticipate that Skyworks Solutions will post 5.14 EPS for the current year.

Skyworks Solutions Increases Dividend

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

Insider Activity

In other news, Director Robert A. Schriesheim sold 25,433 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was 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 directly owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert A. Schriesheim sold 25,433 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $90.27, for a total value of $2,295,836.91. Following 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. Over the last ninety days, insiders sold 26,337 shares of company stock valued at $2,399,797. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Skyworks Solutions

Large investors have recently modified their holdings of the stock. Duality Advisers LP purchased a new stake in shares of Skyworks Solutions during the first quarter worth approximately $1,517,000. State of Tennessee Treasury Department raised its stake in shares of Skyworks Solutions by 152.8% during the fourth quarter. State of Tennessee Treasury Department now owns 118,960 shares of the semiconductor manufacturer’s stock worth $13,373,000 after purchasing an additional 71,899 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Skyworks Solutions in the fourth quarter worth $10,053,000. Brookstone Capital Management purchased a new position in Skyworks Solutions in the first quarter worth $262,000. Finally, FIL Ltd raised its position in Skyworks Solutions by 2.4% in the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after acquiring an additional 64,389 shares in the last quarter. Hedge funds and other 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.