Citigroup Increases Skyworks Solutions (NASDAQ:SWKS) Price Target to $84.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective lifted by stock analysts at Citigroup from $72.00 to $84.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “sell” rating on the semiconductor manufacturer’s stock. Citigroup’s price objective points to a potential downside of 7.85% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reduced their price objective on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company 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 for the company. Craig Hallum dropped their price objective on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. B. Riley reduced their target price on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Susquehanna lowered their price target on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $101.71.

Skyworks Solutions Stock Performance

NASDAQ:SWKS traded down $1.47 during midday trading on Friday, reaching $91.16. The stock had a trading volume of 1,578,062 shares, compared to its average volume of 2,081,957. The stock has a market capitalization of $14.58 billion, a P/E ratio of 24.64, a PEG ratio of 2.01 and a beta of 1.15. Skyworks Solutions has a 1-year low of $82.13 and a 1-year high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. The firm’s fifty day simple moving average is $88.30 and its 200-day simple moving average is $98.33.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted $1.95 earnings per share. The firm’s revenue was down 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Skyworks Solutions will post 4.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Skyworks Solutions news, SVP Carlos S. Bori sold 10,177 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the transaction, the senior vice president now directly owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert John Terry sold 1,821 shares of Skyworks Solutions stock in a transaction on Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the sale, the senior vice president now directly owns 24,567 shares of the company’s stock, valued at $2,214,960.72. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,520 shares of company stock valued at $2,083,803 in the last 90 days. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SWKS. Zega Financial LLC increased its position in shares of Skyworks Solutions by 5.0% in the 2nd quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock valued at $224,000 after buying an additional 100 shares in the last quarter. Elo Mutual Pension Insurance Co increased its holdings in shares of Skyworks Solutions by 0.7% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock worth $1,569,000 after acquiring an additional 107 shares in the last quarter. Unison Advisors LLC raised its position in shares of Skyworks Solutions by 0.6% during the third quarter. Unison Advisors LLC now owns 17,384 shares of the semiconductor manufacturer’s stock worth $1,717,000 after purchasing an additional 110 shares during the period. Abich Financial Wealth Management LLC lifted its holdings in shares of Skyworks Solutions by 9.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,322 shares of the semiconductor manufacturer’s stock valued at $131,000 after purchasing an additional 112 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Skyworks Solutions by 8.7% in the 3rd quarter. UMB Bank n.a. now owns 1,432 shares of the semiconductor manufacturer’s stock valued at $141,000 after purchasing an additional 115 shares during the period. 85.43% of the stock is currently owned by institutional investors.

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.