Skyworks Solutions (NASDAQ:SWKS) Stock Gets Price Target Cut from Susquehanna

Skyworks Solutions (NASDAQ:SWKS) had its price target trimmed by Susquehanna from $90.00 to $75.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor manufacturer’s stock.

A number of other research firms have also recently commented on SWKS. Bank of America lowered their price objective on shares of Skyworks Solutions from $78.00 to $72.00 and set an “underperform” rating for the company in a research report on Wednesday. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a research note on Monday, July 27th. The Goldman Sachs Group initiated coverage on Skyworks Solutions in a report on Wednesday. They set a “sell” rating and a $78.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Skyworks Solutions from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Finally, BMO Capital Markets began coverage on Skyworks Solutions in a report on Friday, August 21st. They issued a “market perform” rating and a $70.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.28.

Skyworks Solutions Trading Up 1.2%

Shares of NASDAQ:SWKS traded up $0.98 during mid-day trading on Wednesday, reaching $82.19. The stock had a trading volume of 4,007,602 shares, compared to its average volume of 5,337,441. The firm has a 50 day simple moving average of $82.14 and a two-hundred day simple moving average of $68.17. Skyworks Solutions has a twelve month low of $51.93 and a twelve month high of $92.80. The firm has a market cap of $12.37 billion, a PE ratio of 72.10, a price-to-earnings-growth ratio of 2.32 and a beta of 1.51. The company has a current ratio of 3.10, a quick ratio of 1.94 and a debt-to-equity ratio of 0.09.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Skyworks Solutions had a net margin of 7.23% and a return on equity of 10.74%. On average, research analysts predict that Skyworks Solutions will post 3.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Skyworks Solutions

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Skyworks Solutions in the 2nd quarter valued at approximately $1,393,584,000. Pzena Investment Management LLC bought a new position in shares of Skyworks Solutions in the second quarter valued at $1,082,972,000. Dimensional Fund Advisors LP increased its holdings in Skyworks Solutions by 19.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,612,201 shares of the semiconductor manufacturer’s stock worth $246,978,000 after buying an additional 753,004 shares during the last quarter. Bank of America Corp DE acquired a new position in Skyworks Solutions during the second quarter worth $180,898,000. Finally, Bank of New York Mellon Corp acquired a new position in Skyworks Solutions during the second quarter worth $143,597,000. Institutional investors own 85.43% of the company’s stock.

Key Stories Impacting Skyworks Solutions

Here are the key news stories impacting Skyworks Solutions this week:

• Positive Sentiment: Zacks upgraded Skyworks to Rank #1 (Strong Buy), citing improving earnings prospects; the upgrade could support investor optimism. All You Need to Know About Skyworks Rating Upgrade to Strong Buy
• Neutral Sentiment: Goldman Sachs was reported among institutions picking up SWKS shares, though the headline provides no details on the size or timing of the purchase. Skyworks Stock Picked Up by Analysts at The Goldman Sachs Group
• Negative Sentiment: Analyst caution is more widespread: Barclays cut its rating from Overweight to Equal Weight and set a $79 target, while TD Cowen maintained a Hold and RBC lowered its expectations. Susquehanna also issued a pessimistic forecast. Reports linked an analyst downgrade to a gap down in SWKS shares. Barclays rating TD Cowen rating RBC lowers expectations Susquehanna forecast
• Negative Sentiment: Weakness across handset-related stocks—including a sharp Qualcomm selloff after cautious guidance and concerns about handset demand—adds a sector headwind for Skyworks. Qualcomm and handset-sector news

Skyworks Solutions Company Profile

Skyworks Solutions, Inc (NASDAQ: SWKS) is a semiconductor company that designs and manufactures high-performance analog and mixed-signal products for wireless connectivity applications. Its portfolio includes radio-frequency front-end modules, amplifiers, filters, switches, antenna tuners, and other integrated solutions used to transmit, receive, and manage wireless signals.

The company serves a range of markets, including smartphones and other mobile devices, automotive systems, industrial equipment, home automation, medical devices, aerospace, and defense.