Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $60.00 by Analysts at Bank of America

Skyworks Solutions (NASDAQ:SWKS) had its price objective cut by equities researchers at Bank of America from $88.00 to $60.00 in a report released on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the semiconductor manufacturer’s stock. Bank of America‘s price target suggests a potential downside of 8.66% from the company’s current price.

A number of other research analysts also recently commented on SWKS. Rosenblatt Securities reaffirmed a “neutral” rating and set a $80.00 price objective (down previously from $120.00) on shares of Skyworks Solutions in a research note on Thursday. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, November 13th. Loop Capital began coverage on shares of Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 price target on the stock. Barclays lowered their price objective on shares of Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. cut their target price on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Skyworks Solutions presently has an average rating of “Hold” and a consensus target price of $83.78.

Skyworks Solutions Trading Up 0.1 %

Shares of SWKS stock opened at $65.69 on Thursday. The stock has a market cap of $10.56 billion, a P/E ratio of 17.75, a P/E/G 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. Skyworks Solutions has a fifty-two week low of $62.01 and a fifty-two week high of $120.86. The business has a fifty day simple moving average of $88.93 and a 200-day simple moving average of $95.15.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS 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, analysts forecast that Skyworks Solutions will post 4.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now owns 15,960 shares in the company, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

A number of hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in Skyworks Solutions during the 2nd quarter worth $1,122,000. Czech National Bank raised its stake in shares of Skyworks Solutions by 6.4% during the third quarter. Czech National Bank now owns 32,535 shares of the semiconductor manufacturer’s stock valued at $3,213,000 after purchasing an additional 1,961 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Skyworks Solutions by 17.3% in the third quarter. GAMMA Investing LLC now owns 3,664 shares of the semiconductor manufacturer’s stock worth $362,000 after purchasing an additional 540 shares during the period. Brookstone Capital Management bought a new position in Skyworks Solutions in the 3rd quarter valued at about $231,000. Finally, CWM LLC increased its stake in Skyworks Solutions by 20.2% during the 3rd quarter. CWM LLC now owns 8,195 shares of the semiconductor manufacturer’s stock valued at $809,000 after buying an additional 1,375 shares during the period. 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.