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

Skyworks Solutions (NASDAQ:SWKS) had its price target upped by investment analysts at Bank of America from $95.00 to $110.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “underperform” rating on the semiconductor manufacturer’s stock. Bank of America‘s price objective points to a potential downside of 1.26% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Skyworks Solutions from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Mizuho cut their target price on shares of Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Craig Hallum upped their price target on Skyworks Solutions from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Rosenblatt Securities upped 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. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $113.11.

Skyworks Solutions Trading Down 5.3 %

SWKS stock traded down $6.29 on Wednesday, reaching $111.40. The company’s stock had a trading volume of 3,160,706 shares, compared to its average volume of 2,478,008. Skyworks Solutions has a 12-month low of $85.06 and a 12-month high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.19. The business has a fifty day simple moving average of $104.56 and a two-hundred day simple moving average of $103.18. The firm has a market cap of $17.87 billion, a PE ratio of 20.99, a PEG ratio of 5.59 and a beta of 1.23.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data 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 business had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $900.41 million. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 EPS. As a group, research analysts forecast that Skyworks Solutions will post 5.14 EPS for the current year.

Insiders Place Their Bets

In other Skyworks Solutions news, CEO Liam Griffin acquired 11,142 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the transaction, the chief executive officer now owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Liam Griffin bought 11,142 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the completion of the transaction, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Philip Matthew Carter sold 452 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total transaction of $54,240.00. Following the transaction, the vice president now directly owns 9,112 shares of the company’s stock, valued at approximately $1,093,440. The disclosure for this sale can be found here. Insiders have sold 26,337 shares of company stock valued at $2,399,797 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Skyworks Solutions by 4.0% during the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after purchasing an additional 745,374 shares during the period. Pzena Investment Management LLC increased its stake in Skyworks Solutions by 27.5% during the 1st quarter. Pzena Investment Management LLC now owns 3,429,148 shares of the semiconductor manufacturer’s stock worth $371,445,000 after buying an additional 740,048 shares during the period. FIL Ltd lifted its holdings in Skyworks Solutions by 2.4% during the 4th quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after buying an additional 64,389 shares in the last quarter. Norges Bank purchased a new position in Skyworks Solutions in the 4th quarter valued at approximately $226,266,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Skyworks Solutions by 11.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,806,327 shares of the semiconductor manufacturer’s stock worth $203,093,000 after acquiring an additional 185,355 shares in the last quarter. Institutional investors and hedge funds 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.