Loop Capital Cuts Skyworks Solutions (SWKS) Price Target to $102.00

Skyworks Solutions (NASDAQ:SWKS) had its price target trimmed by Loop Capital to $102.00 in a report issued on Friday, The Fly reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

SWKS has been the topic of several other reports. Needham & Company LLC reaffirmed a buy rating and issued a $118.00 price target on shares of Skyworks Solutions in a research note on Tuesday, August 7th. BidaskClub raised Skyworks Solutions from a strong sell rating to a sell rating in a research note on Friday, September 21st. ValuEngine raised Skyworks Solutions from a strong sell rating to a sell rating in a research note on Friday, September 21st. Morgan Stanley cut their target price on Skyworks Solutions from $80.00 to $79.00 and set an underweight rating on the stock in a research note on Wednesday, October 3rd. Finally, Bank of America cut Skyworks Solutions from a buy rating to a neutral rating in a research note on Friday. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have issued a buy rating to the company’s stock. Skyworks Solutions currently has a consensus rating of Hold and an average target price of $107.79.

SWKS stock traded down $6.74 during midday trading on Friday, hitting $76.66. The stock had a trading volume of 8,436,241 shares, compared to its average volume of 1,960,861. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 0.82 and a beta of 0.64. Skyworks Solutions has a 52-week low of $75.15 and a 52-week high of $115.98.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.02. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Skyworks Solutions had a return on equity of 30.31% and a net margin of 23.78%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 earnings per share. As a group, equities research analysts predict that Skyworks Solutions will post 7.34 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Tuesday, November 27th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, November 26th. Skyworks Solutions’s payout ratio is currently 22.93%.

In other news, Director David J. Aldrich sold 5,500 shares of the company’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $90.48, for a total transaction of $497,640.00. Following the transaction, the director now directly owns 147,752 shares of the company’s stock, valued at $13,368,600.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David J. Aldrich sold 10,000 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $92.89, for a total value of $928,900.00. Following the transaction, the director now directly owns 152,252 shares in the company, valued at $14,142,688.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,500 shares of company stock worth $3,126,050. Corporate insiders own 0.47% of the company’s stock.

Several large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale lifted its holdings in shares of Skyworks Solutions by 22.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 103,064 shares of the semiconductor manufacturer’s stock valued at $9,508,000 after purchasing an additional 19,137 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Skyworks Solutions by 18.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 210,187 shares of the semiconductor manufacturer’s stock valued at $19,066,000 after purchasing an additional 31,994 shares in the last quarter. CIBC World Markets Inc. lifted its holdings in shares of Skyworks Solutions by 23.4% during the third quarter. CIBC World Markets Inc. now owns 9,823 shares of the semiconductor manufacturer’s stock valued at $891,000 after purchasing an additional 1,860 shares in the last quarter. FMR LLC lifted its holdings in shares of Skyworks Solutions by 22.6% during the third quarter. FMR LLC now owns 1,434,635 shares of the semiconductor manufacturer’s stock valued at $130,136,000 after purchasing an additional 264,346 shares in the last quarter. Finally, American International Group Inc. lifted its holdings in shares of Skyworks Solutions by 3.3% during the third quarter. American International Group Inc. now owns 79,821 shares of the semiconductor manufacturer’s stock valued at $7,241,000 after purchasing an additional 2,545 shares in the last quarter. 80.71% of the stock is currently owned by hedge funds and other institutional investors.

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, 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 shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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