Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $95.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective decreased by equities research analysts at Piper Sandler from $105.00 to $95.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. Piper Sandler’s price objective indicates a potential upside of 5.88% from the company’s previous close.

SWKS has been the subject of several other research reports. Mizuho dropped their price target on Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday. TD Cowen lowered Skyworks Solutions from a “buy” rating to a “hold” rating and dropped their target price for the stock from $125.00 to $90.00 in a research report on Wednesday. Susquehanna reissued a “neutral” rating and issued a $90.00 price objective (down from $125.00) on shares of Skyworks Solutions in a report on Wednesday. Stifel Nicolaus lowered their price objective on Skyworks Solutions from $122.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday. Finally, StockNews.com downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $108.86.

Skyworks Solutions Stock Down 0.6 %

SWKS opened at $89.72 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.79 and a quick ratio of 3.51. The business has a 50 day simple moving average of $103.94 and a 200-day simple moving average of $101.91. The stock has a market capitalization of $14.38 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.67 and a beta of 1.35. Skyworks Solutions has a 12 month low of $85.06 and a 12 month high of $115.69.

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

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, CEO Liam Griffin purchased 11,142 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its holdings in shares of Skyworks Solutions by 6.0% during the first quarter. Daiwa Securities Group Inc. now owns 18,529 shares of the semiconductor manufacturer’s stock worth $2,007,000 after buying an additional 1,054 shares in the last quarter. Haverford Trust Co increased its holdings in shares of Skyworks Solutions by 13.2% during the first quarter. Haverford Trust Co now owns 314,328 shares of the semiconductor manufacturer’s stock worth $34,048,000 after buying an additional 36,536 shares in the last quarter. Bryn Mawr Capital Management LLC increased its holdings in shares of Skyworks Solutions by 6.8% during the first quarter. Bryn Mawr Capital Management LLC now owns 7,947 shares of the semiconductor manufacturer’s stock worth $861,000 after buying an additional 506 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Skyworks Solutions during the first quarter worth approximately $120,000. Finally, BNP Paribas acquired a new stake in shares of Skyworks Solutions during the first quarter worth approximately $27,000. 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.