Bank of America Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $60.00

Skyworks Solutions (NASDAQ:SWKS) had its target price lowered by Bank of America from $88.00 to $60.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an underperform rating on the semiconductor manufacturer’s stock.

SWKS has been the subject of a number of other reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $80.00 price objective (down from $120.00) on shares of Skyworks Solutions in a research report on Thursday. Stifel Nicolaus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and lowered their price target for the stock from $105.00 to $62.00 in a research report on Thursday. Susquehanna cut their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price objective on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Finally, Mizuho lowered Skyworks Solutions from an “outperform” rating to a “neutral” rating and cut their target price for the company from $105.00 to $62.00 in a research note on Thursday. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.78.

Skyworks Solutions Trading Down 24.7 %

Shares of NASDAQ SWKS opened at $65.60 on Thursday. Skyworks Solutions has a 1-year low of $62.01 and a 1-year high of $120.86. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $89.37 and a two-hundred day moving average of $95.52. The company has a market cap of $10.54 billion, a PE ratio of 17.73, a P/E/G ratio of 1.96 and a beta of 1.14.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. As a group, equities analysts expect that Skyworks Solutions will post 4.45 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Monday, February 24th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 75.68%.

Insider Activity

In related news, SVP Robert John Terry sold 10,522 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares in the company, valued at approximately $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

Large investors have recently bought and sold shares of the company. Erste Asset Management GmbH acquired a new stake in shares of Skyworks Solutions in the third quarter valued at approximately $27,000. Golden State Wealth Management LLC bought a new position in Skyworks Solutions in the fourth quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new stake in Skyworks Solutions in the 4th quarter valued at $29,000. Investors Research Corp lifted its position in Skyworks Solutions by 167.7% during the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 213 shares in the last quarter. Finally, Matrix Trust Co acquired a new position in shares of Skyworks Solutions during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.