Skyworks Solutions (SWKS) Given New $77.00 Price Target at UBS Group

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Skyworks Solutions (NASDAQ:SWKS) had its target price reduced by UBS Group from $93.00 to $77.00 in a report released on Wednesday, BenzingaRatingsTable reports. UBS Group currently has a neutral rating on the semiconductor manufacturer’s stock.

A number of other equities analysts also recently commented on the company. B. Riley upgraded Skyworks Solutions from a neutral rating to a buy rating and lifted their price objective for the stock from $80.00 to $90.00 in a research report on Monday, January 28th. Goldman Sachs Group upgraded Skyworks Solutions from a neutral rating to a buy rating and set a $96.00 price objective on the stock in a research report on Wednesday, February 6th. BidaskClub upgraded Skyworks Solutions from a hold rating to a buy rating in a research report on Wednesday, February 13th. Mizuho reiterated a hold rating and set a $89.00 price objective on shares of Skyworks Solutions in a research report on Friday, May 3rd. Finally, TheStreet upgraded Skyworks Solutions from a c+ rating to a b- rating in a research report on Wednesday, February 27th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $90.28.

Shares of Skyworks Solutions stock opened at $68.54 on Wednesday. Skyworks Solutions has a one year low of $60.12 and a one year high of $104.20. The company has a market cap of $12.04 billion, a P/E ratio of 10.34, a P/E/G ratio of 1.01 and a beta of 0.70.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.04. Skyworks Solutions had a return on equity of 28.25% and a net margin of 29.06%. The firm had revenue of $810.40 million for the quarter, compared to the consensus estimate of $809.52 million. During the same quarter last year, the business posted $1.64 earnings per share. The firm’s revenue was down 11.3% compared to the same quarter last year. As a group, analysts forecast that Skyworks Solutions will post 6.11 EPS for the current year.

Skyworks Solutions announced that its board has approved a share buyback plan on Tuesday, February 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 15.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be given a $0.38 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.52 dividend on an annualized basis and a yield of 2.22%. Skyworks Solutions’s dividend payout ratio is currently 22.93%.

In related news, CTO Peter L. Gammel sold 1,881 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $93.53, for a total value of $175,929.93. Following the sale, the chief technology officer now owns 9,240 shares in the company, valued at approximately $864,217.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Peter L. Gammel sold 2,250 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $77.43, for a total value of $174,217.50. Following the completion of the sale, the chief technology officer now owns 11,490 shares in the company, valued at approximately $889,670.70. The disclosure for this sale can be found here. Insiders sold 114,315 shares of company stock worth $9,981,691 in the last 90 days. Company insiders own 0.64% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Strategic Financial Services Inc raised its holdings in shares of Skyworks Solutions by 1.5% in the 4th quarter. Strategic Financial Services Inc now owns 55,024 shares of the semiconductor manufacturer’s stock valued at $3,688,000 after buying an additional 791 shares during the period. Montrusco Bolton Investments Inc. raised its holdings in shares of Skyworks Solutions by 1.7% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 135,861 shares of the semiconductor manufacturer’s stock valued at $8,997,000 after buying an additional 2,252 shares during the period. Norinchukin Bank The raised its holdings in shares of Skyworks Solutions by 43.5% in the 4th quarter. Norinchukin Bank The now owns 33,026 shares of the semiconductor manufacturer’s stock valued at $2,213,000 after buying an additional 10,006 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Skyworks Solutions by 593.7% in the 1st quarter. Meeder Asset Management Inc. now owns 2,088 shares of the semiconductor manufacturer’s stock valued at $172,000 after buying an additional 1,787 shares during the period. Finally, Gateway Investment Advisers LLC raised its holdings in shares of Skyworks Solutions by 6.5% in the 1st quarter. Gateway Investment Advisers LLC now owns 178,524 shares of the semiconductor manufacturer’s stock valued at $14,725,000 after buying an additional 10,854 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Skyworks Solutions Company Profile

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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Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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