Bank of America lowered shares of Skyworks Solutions (NASDAQ:SWKS) from a neutral rating to an underperform rating in a research report report published on Tuesday, MarketBeat Ratings reports. The firm currently has $75.00 target price on the semiconductor manufacturer’s stock, down from their previous target price of $92.00.

Several other brokerages also recently weighed in on SWKS. Canaccord Genuity decreased their target price on Skyworks Solutions from $115.00 to $102.00 and set a buy rating for the company in a research note on Friday, November 9th. Citigroup downgraded Skyworks Solutions from a buy rating to a neutral rating in a research report on Monday, November 12th. Oppenheimer reduced their price objective on Skyworks Solutions from $120.00 to $110.00 and set an outperform rating for the company in a research report on Friday, November 9th. Charter Equity reiterated a market perform rating on shares of Skyworks Solutions in a research report on Friday, November 9th. Finally, Cowen reiterated a hold rating on shares of Skyworks Solutions in a research report on Friday, November 9th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $106.01.

Shares of NASDAQ:SWKS opened at $69.41 on Tuesday. Skyworks Solutions has a twelve month low of $68.58 and a twelve month high of $115.98. The company has a market cap of $12.56 billion, a P/E ratio of 10.47, a price-to-earnings-growth ratio of 0.84 and a beta of 0.64.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.02. Skyworks Solutions had a return on equity of 30.59% and a net margin of 23.74%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the company earned $1.82 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts forecast that Skyworks Solutions will post 6.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Tuesday, November 27th will be given a dividend of $0.38 per share. The ex-dividend date is Monday, November 26th. This represents a $1.52 annualized dividend and a dividend yield of 2.19%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 22.93%.

In related news, Director David J. Aldrich sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $92.89, for a total transaction of $928,900.00. Following the completion of the transaction, the director now owns 152,252 shares in the company, valued at approximately $14,142,688.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David J. Aldrich sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $88.78, for a total value of $266,340.00. Following the transaction, the director now owns 145,252 shares of the company’s stock, valued at approximately $12,895,472.56. The disclosure for this sale can be found here. Insiders have sold a total of 34,500 shares of company stock valued at $3,126,050 in the last 90 days. 0.47% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its holdings in Skyworks Solutions by 3.8% during the 3rd quarter. Legal & General Group Plc now owns 869,183 shares of the semiconductor manufacturer’s stock valued at $78,808,000 after purchasing an additional 31,437 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Skyworks Solutions by 6,078.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 69,574 shares of the semiconductor manufacturer’s stock valued at $767,000 after purchasing an additional 68,448 shares in the last quarter. Krane Funds Advisors LLC increased its holdings in Skyworks Solutions by 20.1% during the 3rd quarter. Krane Funds Advisors LLC now owns 7,900 shares of the semiconductor manufacturer’s stock valued at $717,000 after purchasing an additional 1,322 shares in the last quarter. Coe Capital Management LLC increased its holdings in Skyworks Solutions by 34.7% during the 3rd quarter. Coe Capital Management LLC now owns 9,381 shares of the semiconductor manufacturer’s stock valued at $851,000 after purchasing an additional 2,415 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Skyworks Solutions by 13.7% during the 3rd quarter. Nordea Investment Management AB now owns 153,613 shares of the semiconductor manufacturer’s stock valued at $13,935,000 after purchasing an additional 18,513 shares in the last quarter. 81.96% 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, 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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Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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