Skyworks Solutions (NASDAQ:SWKS) Rating Lowered to Underweight at Barclays

Barclays cut shares of Skyworks Solutions (NASDAQ:SWKS) from an equal weight rating to an underweight rating in a research report sent to investors on Thursday, Marketbeat reports. Barclays currently has $87.00 price objective on the semiconductor manufacturer’s stock, down from their previous price objective of $115.00.

SWKS has been the subject of a number of other reports. Needham & Company LLC restated a hold rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Robert W. Baird raised their price target on shares of Skyworks Solutions from $90.00 to $108.00 and gave the stock a neutral rating in a report on Wednesday, July 31st. Bank of America raised their price target on shares of Skyworks Solutions from $95.00 to $110.00 and gave the stock an underperform rating in a report on Wednesday, July 31st. Craig Hallum raised their price target on shares of Skyworks Solutions from $125.00 to $140.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Finally, Susquehanna restated a neutral rating and issued a $125.00 price target on shares of Skyworks Solutions in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $112.53.

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS opened at $97.30 on Thursday. Skyworks Solutions has a twelve month low of $85.06 and a twelve month high of $120.86. The firm has a fifty day simple moving average of $101.46 and a 200 day simple moving average of $102.14. The company has a market capitalization of $15.54 billion, a PE ratio of 20.06, a P/E/G ratio of 4.38 and a beta of 1.20. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.21. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The business had revenue of $905.50 million during the quarter, compared to the consensus estimate of $900.41 million. During the same quarter last year, the firm earned $1.50 earnings per share. Skyworks Solutions’s quarterly revenue was down 15.5% on a year-over-year basis. On average, sell-side analysts forecast that Skyworks Solutions will post 5.21 EPS for the current year.

Skyworks Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, August 20th. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 2.88%. Skyworks Solutions’s payout ratio is 57.73%.

Insider Buying and Selling

In related news, SVP Carlos S. Bori sold 9,321 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total transaction of $950,462.37. Following the transaction, the senior vice president now directly owns 37,203 shares in the company, valued at approximately $3,793,589.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Carlos S. Bori sold 9,321 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total transaction of $950,462.37. Following the transaction, the senior vice president now directly owns 37,203 shares in the company, valued at approximately $3,793,589.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Reza Kasnavi sold 1,843 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $107.47, for a total transaction of $198,067.21. Following the transaction, the senior vice president now owns 17,455 shares in the company, valued at approximately $1,875,888.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,616 shares of company stock worth $1,202,770. 0.34% of the stock is owned by insiders.

Institutional Trading of Skyworks Solutions

Several hedge funds have recently added to or reduced their stakes in SWKS. BNP Paribas bought a new stake in shares of Skyworks Solutions in the first quarter valued at approximately $27,000. Innealta Capital LLC bought a new stake in shares of Skyworks Solutions in the second quarter valued at approximately $27,000. Rothschild Investment LLC bought a new stake in shares of Skyworks Solutions in the second quarter valued at approximately $27,000. Access Investment Management LLC bought a new stake in shares of Skyworks Solutions in the first quarter valued at approximately $31,000. Finally, Blue Trust Inc. raised its position in shares of 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 purchasing 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.