Skyworks Solutions (NASDAQ:SWKS) Given New $70.00 Price Target at The Goldman Sachs Group

Skyworks Solutions (NASDAQ:SWKS) had its price target decreased by analysts at The Goldman Sachs Group from $92.00 to $70.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor manufacturer’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 6.56% from the stock’s current price.

Several other research firms have also issued reports on SWKS. JPMorgan Chase & Co. dropped their price objective on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Piper Sandler dropped their price target on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday. Morgan Stanley decreased their price objective on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday. Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.78.

Skyworks Solutions Stock Up 0.1 %

SWKS stock opened at $65.69 on Thursday. Skyworks Solutions has a twelve month low of $62.01 and a twelve month high of $120.86. The firm has a market capitalization of $10.56 billion, a PE ratio of 17.75, a PEG ratio of 1.96 and a beta of 1.14. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $88.93 and a two-hundred day simple moving average of $95.15.

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

Insider Transactions at Skyworks Solutions

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the sale, the senior vice president now owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This represents a 39.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

Hedge funds have recently modified their holdings of the company. Pzena Investment Management LLC grew its stake in shares of Skyworks Solutions by 37.5% in the fourth quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer’s stock worth $499,273,000 after purchasing an additional 1,536,289 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Skyworks Solutions by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,098,497 shares of the semiconductor manufacturer’s stock worth $452,135,000 after buying an additional 267,343 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Skyworks Solutions by 0.7% during the third quarter. Geode Capital Management LLC now owns 4,143,639 shares of the semiconductor manufacturer’s stock valued at $408,410,000 after buying an additional 28,009 shares during the period. FMR LLC raised its holdings in shares of Skyworks Solutions by 7.3% during the third quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer’s stock valued at $265,853,000 after acquiring an additional 182,130 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Skyworks Solutions by 52.0% in the third quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock worth $223,994,000 after acquiring an additional 775,470 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

About Skyworks Solutions

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.