Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $105.00

Skyworks Solutions (NASDAQ:SWKS) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $120.00 to $105.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 13.50% from the stock’s current price.

Several other equities analysts have also commented on the company. Rosenblatt Securities reduced their price target on Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler cut their target price on Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday. KeyCorp lowered Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research report on Monday, April 8th. StockNews.com lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Finally, Mizuho cut their target price on Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have 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 $108.86.

Skyworks Solutions Trading Up 3.1 %

Shares of NASDAQ SWKS traded up $2.79 during midday trading on Wednesday, hitting $92.51. The stock had a trading volume of 3,562,484 shares, compared to its average volume of 2,422,731. The company has a market capitalization of $14.82 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.67 and a beta of 1.35. Skyworks Solutions has a 1-year low of $85.06 and a 1-year high of $115.69. The company has a quick ratio of 3.51, a current ratio of 2.79 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $103.64 and a 200 day moving average price of $101.82.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, topping the consensus estimate of $1.95 by $0.02. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. Skyworks Solutions’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 EPS. On average, analysts predict that Skyworks Solutions will post 5.65 earnings per share for the current year.

Insider Activity at Skyworks Solutions

In other news, CEO Liam Griffin bought 11,142 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the completion of the purchase, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Skyworks Solutions by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 18,656,578 shares of the semiconductor manufacturer’s stock valued at $2,097,372,000 after purchasing an additional 123,564 shares during the period. Victory Capital Management Inc. boosted its position in shares of Skyworks Solutions by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock valued at $407,474,000 after purchasing an additional 136,188 shares during the period. Pzena Investment Management LLC boosted its position in shares of 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 period. Invesco Ltd. boosted its position in shares of Skyworks Solutions by 11.8% in the 3rd quarter. Invesco Ltd. now owns 3,035,245 shares of the semiconductor manufacturer’s stock valued at $299,245,000 after purchasing an additional 321,243 shares during the period. Finally, FIL Ltd boosted its position in shares of Skyworks Solutions by 2.4% in the 4th quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after purchasing an additional 64,389 shares during the period. Institutional investors and hedge funds 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.