Skyworks Solutions, Inc. (NASDAQ:SWKS) has garnered an average rating of “Hold” from a group of twenty-two analysts following the company, according to MarketBeat Ratings. The evaluations show a diversity of opinions: two analysts recommend selling the stock, while seventeen suggest holding it. Additionally, two analysts have issued buy recommendations, and one has assigned a strong buy rating. The average one-year price target for Skyworks Solutions stands at approximately $82.59.
The mixed ratings come in the wake of Skyworks’ recent quarterly earnings announcement on November 4, 2023. The semiconductor manufacturer reported earnings per share (EPS) of $1.76, exceeding analysts’ expectations of $1.53 by $0.23. Revenue for the quarter reached $1.10 billion, reflecting a 7.3% increase compared to the same period last year when the company generated an EPS of $1.55. Skyworks has set its guidance for Q1 2026 at an EPS of $1.40.
Analyst Upgrades and Price Targets
Several analysts have recently revised their ratings on Skyworks Solutions. On October 29, 2023, Citigroup upgraded the stock from “sell” to “neutral,” increasing its price target from $66.00 to $105.00. Similarly, Barclays raised its rating from “underweight” to “equal weight” and lifted its price objective from $58.00 to $88.00.
Weiss Ratings reaffirmed a “hold (c-)” rating on October 8, 2023, while Cfra Research upgraded the stock from “moderate sell” to “hold” on October 28, 2023. Stifel Nicolaus has set a target price of $72.00 for Skyworks Solutions as of November 5, 2023.
Dividend Announcement and Insider Transactions
Skyworks Solutions also made headlines with its recent quarterly dividend announcement. The company paid a dividend of $0.71 on December 9, 2023, to shareholders on record as of November 18, 2023. This dividend translates to an annualized total of $2.84 and a yield of 4.7%. The company’s dividend payout ratio currently stands at 92.51%.
In terms of insider activity, Executive Vice President Reza Kasnavi sold 7,332 shares on November 19, 2023, at an average price of $62.26, totaling approximately $456,490.32. Following this transaction, Kasnavi retained 26,087 shares valued at around $1.62 million. Additionally, Senior Vice President Robert John Terry sold 4,945 shares on the same day, amounting to approximately $307,974.60.
Institutional Investor Activity
Recent trading activity indicates increased interest from institutional investors in Skyworks Solutions. Park Place Capital Corp raised its stake by 62.1% during the second quarter, acquiring an additional 141 shares. Atlantic Union Bankshares Corp and Financial Consulate Inc. also purchased new positions in the company, both valued around $28,000 and $29,000, respectively.
Clearstead Trust LLC increased its stake by 200.0% during this period, now owning 411 shares valued at $31,000. Hedge funds and institutional investors currently hold 85.43% of Skyworks Solutions’ stock.
Skyworks Solutions is a prominent player in the semiconductor industry, specializing in analog and mixed-signal semiconductors for radio frequency (RF) and mobile communications markets. The company produces a range of components essential for wireless connectivity in various devices, from smartphones to automotive telematics. Headquartered in Irvine, California, Skyworks operates design, development, and manufacturing facilities across North America, Europe, and the Asia-Pacific region.
