Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $110.00

Skyworks Solutions (NASDAQ:SWKS) had its target price reduced by analysts at Susquehanna from $125.00 to $110.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor manufacturer’s stock. Susquehanna’s price objective would suggest a potential upside of 15.01% from the company’s previous close.

Several other brokerages also recently weighed in on SWKS. Bank of America increased their price target on Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 31st. Rosenblatt Securities raised their target price on Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their target price on Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum raised their target price on Skyworks Solutions from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler restated a “neutral” rating and set a $115.00 target price (up from $95.00) on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $111.65.

Skyworks Solutions Price Performance

NASDAQ SWKS opened at $95.64 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29. The stock’s fifty day moving average price is $101.19 and its 200 day moving average price is $101.72. Skyworks Solutions has a 1 year low of $85.06 and a 1 year high of $120.86. The company has a market cap of $15.28 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 4.47 and a beta of 1.20.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. The firm had revenue of $905.50 million for the quarter, compared to the consensus estimate of $900.41 million. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The firm’s revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 EPS. As a group, equities research analysts forecast that Skyworks Solutions will post 5.21 earnings per share for the current year.

Insiders Place Their Bets

In other Skyworks Solutions news, SVP Reza Kasnavi sold 1,843 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $107.47, for a total value of $198,067.21. Following the transaction, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at $1,875,888.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the sale, the senior vice president now owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Reza Kasnavi sold 1,843 shares of Skyworks Solutions stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $107.47, for a total transaction of $198,067.21. Following the sale, the senior vice president now directly owns 17,455 shares in the company, valued at approximately $1,875,888.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,341 shares of company stock valued at $2,142,110 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Skyworks Solutions

Institutional investors have recently made changes to their positions in the company. Vulcan Value Partners LLC increased its holdings in Skyworks Solutions by 38.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock valued at $481,552,000 after purchasing an additional 1,262,964 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Skyworks Solutions by 54.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock valued at $370,768,000 after purchasing an additional 1,233,618 shares during the last quarter. Swedbank AB acquired a new stake in Skyworks Solutions in the 1st quarter valued at approximately $110,086,000. Vanguard Group Inc. increased its holdings in Skyworks Solutions by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock valued at $2,101,619,000 after purchasing an additional 745,374 shares during the last quarter. Finally, Pzena Investment Management LLC increased its holdings in Skyworks Solutions by 27.5% in the 1st quarter. Pzena Investment Management LLC now owns 3,429,148 shares of the semiconductor manufacturer’s stock valued at $371,445,000 after purchasing an additional 740,048 shares during the last quarter. Hedge funds and other institutional investors 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.