Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $75.00 by Analysts at Loop Capital

Skyworks Solutions (NASDAQ:SWKS) had its price objective reduced by stock analysts at Loop Capital from $83.00 to $75.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. Loop Capital’s price objective would suggest a potential upside of 2.73% from the stock’s current price.

Several other equities analysts have also recently issued reports on SWKS. Cfra set a $90.00 price target on shares of Skyworks Solutions in a research report on Tuesday, October 28th. KeyCorp set a $105.00 price target on shares of Skyworks Solutions and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Susquehanna boosted their price target on shares of Skyworks Solutions from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, October 29th. Finally, Piper Sandler upgraded shares of Skyworks Solutions from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $140.00 in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.94.

Skyworks Solutions Stock Performance

Shares of NASDAQ:SWKS opened at $73.01 on Wednesday. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 29.33 and a beta of 1.21. The company has a 50-day moving average price of $75.82 and a 200-day moving average price of $72.85. The company has a current ratio of 2.39, a quick ratio of 1.80 and a debt-to-equity ratio of 0.09. Skyworks Solutions has a 12 month low of $47.93 and a 12 month high of $95.46.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Wednesday, November 5th. The semiconductor manufacturer reported $1.76 EPS for the quarter, beating the consensus estimate of $1.53 by $0.23. Skyworks Solutions had a net margin of 9.88% and a return on equity of 11.77%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 earnings per share. As a group, equities analysts anticipate that Skyworks Solutions will post 3.7 EPS for the current year.

Institutional Investors Weigh In On Skyworks Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas bought a new position in Skyworks Solutions during the first quarter valued at approximately $1,511,000. Principal Financial Group Inc. lifted its position in Skyworks Solutions by 9.1% during the first quarter. Principal Financial Group Inc. now owns 203,496 shares of the semiconductor manufacturer’s stock valued at $13,152,000 after purchasing an additional 16,965 shares during the period. OneDigital Investment Advisors LLC lifted its position in Skyworks Solutions by 9.0% during the first quarter. OneDigital Investment Advisors LLC now owns 4,578 shares of the semiconductor manufacturer’s stock valued at $296,000 after purchasing an additional 379 shares during the period. Envestnet Asset Management Inc. lifted its position in Skyworks Solutions by 91.5% during the first quarter. Envestnet Asset Management Inc. now owns 474,852 shares of the semiconductor manufacturer’s stock valued at $30,690,000 after purchasing an additional 226,938 shares during the period. Finally, M&T Bank Corp lifted its position in Skyworks Solutions by 32.2% during the first quarter. M&T Bank Corp now owns 16,450 shares of the semiconductor manufacturer’s stock valued at $1,063,000 after purchasing an additional 4,007 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.