Skyworks Solutions (SWKS) Given New $88.00 Price Target at Morgan Stanley

Skyworks Solutions (NASDAQ:SWKS) had its price objective lifted by Morgan Stanley from $86.00 to $88.00 in a research report report published on Wednesday morning. Morgan Stanley currently has an underweight rating on the semiconductor manufacturer’s stock.

Several other research analysts have also weighed in on SWKS. BidaskClub raised Skyworks Solutions from a buy rating to a strong-buy rating in a research report on Thursday, August 17th. Vetr raised Skyworks Solutions from a buy rating to a strong-buy rating and set a $113.85 target price on the stock in a research report on Monday, August 21st. Craig Hallum reaffirmed a buy rating on shares of Skyworks Solutions in a research report on Wednesday, September 13th. Zacks Investment Research raised Skyworks Solutions from a hold rating to a buy rating and set a $114.00 price objective on the stock in a research report on Monday, August 21st. Finally, Instinet assumed coverage on Skyworks Solutions in a research report on Wednesday, September 6th. They issued a buy rating and a $115.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $116.56.

Shares of Skyworks Solutions (NASDAQ:SWKS) traded down $0.61 on Wednesday, hitting $95.86. The company had a trading volume of 1,977,700 shares, compared to its average volume of 2,028,075. The stock has a market cap of $17,350.00, a price-to-earnings ratio of 16.02, a P/E/G ratio of 0.96 and a beta of 0.84. Skyworks Solutions has a twelve month low of $73.94 and a twelve month high of $117.65.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st were paid a dividend of $0.32 per share. The ex-dividend date was Monday, November 20th. This represents a $1.28 annualized dividend and a dividend yield of 1.34%. Skyworks Solutions’s dividend payout ratio is presently 23.66%.

In related news, insider Liam Griffin sold 13,858 shares of Skyworks Solutions stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $102.18, for a total value of $1,416,010.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carlos S. Bori sold 2,151 shares of Skyworks Solutions stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $107.20, for a total value of $230,587.20. Following the completion of the transaction, the senior vice president now owns 9,372 shares of the company’s stock, valued at $1,004,678.40. The disclosure for this sale can be found here. Insiders have sold 150,275 shares of company stock valued at $16,223,522 over the last 90 days. Insiders own 0.49% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Skyworks Solutions by 2.8% in the second quarter. Vanguard Group Inc. now owns 18,326,001 shares of the semiconductor manufacturer’s stock worth $1,758,380,000 after purchasing an additional 502,995 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Skyworks Solutions by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 2,652,096 shares of the semiconductor manufacturer’s stock worth $254,468,000 after purchasing an additional 95,860 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in Skyworks Solutions by 9.3% in the third quarter. Manning & Napier Advisors LLC now owns 2,190,222 shares of the semiconductor manufacturer’s stock valued at $223,182,000 after acquiring an additional 186,077 shares during the period. Old Mutual Global Investors UK Ltd. boosted its stake in Skyworks Solutions by 27.9% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,670,875 shares of the semiconductor manufacturer’s stock valued at $170,262,000 after acquiring an additional 364,933 shares during the period. Finally, Voya Investment Management LLC boosted its stake in Skyworks Solutions by 953.8% in the second quarter. Voya Investment Management LLC now owns 1,290,395 shares of the semiconductor manufacturer’s stock valued at $123,813,000 after acquiring an additional 1,167,942 shares during the period. Institutional investors and hedge funds own 81.94% of the company’s stock.

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About Skyworks Solutions

Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.

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