JPMorgan Chase & Co. Trims Skyworks Solutions (NASDAQ:SWKS) Target Price to $105.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective lowered by JPMorgan Chase & Co. from $120.00 to $105.00 in a research note released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the semiconductor manufacturer’s stock.

Several other analysts also recently commented on the stock. Mizuho decreased their price objective on shares of Skyworks Solutions from $125.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday. TD Cowen downgraded shares of Skyworks Solutions from a buy rating to a hold rating and decreased their price objective for the company from $125.00 to $90.00 in a research report on Wednesday. KeyCorp downgraded shares of Skyworks Solutions from an overweight rating to a sector weight rating in a research report on Monday, April 8th. Stifel Nicolaus decreased their price objective on shares of Skyworks Solutions from $122.00 to $112.00 and set a buy rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded shares of Skyworks Solutions from a buy rating to a hold rating in a research report on Friday, March 29th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $108.86.

Skyworks Solutions Stock Up 3.1 %

SWKS opened at $92.51 on Wednesday. The company has a current ratio of 5.19, a quick ratio of 3.51 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 1-year low of $85.06 and a 1-year high of $115.69. The company has a market capitalization of $14.84 billion, a PE ratio of 17.39, a PEG ratio of 4.00 and a beta of 1.35. The firm’s 50 day simple moving average is $103.41 and its two-hundred day simple moving average is $101.80.

Skyworks Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.94%. Skyworks Solutions’s payout ratio is currently 51.13%.

Insiders Place Their Bets

In other Skyworks Solutions news, CEO Liam Griffin acquired 11,142 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $90.00 per share, with a total value of $1,002,780.00. Following the purchase, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Skyworks Solutions by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,656,578 shares of the semiconductor manufacturer’s stock worth $2,097,372,000 after purchasing an additional 123,564 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Skyworks Solutions by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock worth $407,474,000 after purchasing an additional 136,188 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Skyworks Solutions by 27.5% during the 1st quarter. Pzena Investment Management LLC now owns 3,429,148 shares of the semiconductor manufacturer’s stock worth $371,445,000 after purchasing an additional 740,048 shares during the period. Invesco Ltd. lifted its holdings in Skyworks Solutions by 11.8% during the 3rd quarter. Invesco Ltd. now owns 3,035,245 shares of the semiconductor manufacturer’s stock valued at $299,245,000 after buying an additional 321,243 shares in the last quarter. Finally, FIL Ltd lifted its holdings in Skyworks Solutions by 2.4% during the 4th quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after buying an additional 64,389 shares in the last quarter. 85.43% of the stock is 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 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.