Skyworks Solutions (NASDAQ:SWKS) Stock Rating Lowered by Wolfe Research

Skyworks Solutions (NASDAQ:SWKS) was downgraded by investment analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research note issued to investors on Thursday, FinViz reports.

Several other research analysts also recently commented on SWKS. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, May 1st. Stifel Nicolaus reduced their target price on Skyworks Solutions from $122.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. TD Cowen cut Skyworks Solutions from a “buy” rating to a “hold” rating and lowered their price target for the company from $125.00 to $90.00 in a report on Wednesday, May 1st. Benchmark lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Skyworks Solutions from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $108.86.

Skyworks Solutions Price Performance

SWKS stock opened at $93.24 on Thursday. The firm has a 50 day moving average of $102.77 and a 200-day moving average of $101.83. The firm has a market capitalization of $14.96 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 3.97 and a beta of 1.35. Skyworks Solutions has a 12 month low of $85.06 and a 12 month high of $115.69. The company has a current ratio of 5.19, a quick ratio of 3.81 and a debt-to-equity ratio of 0.16.

Insider Activity

In other news, CEO Liam Griffin purchased 11,142 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the acquisition, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. AXQ Capital LP purchased a new position in shares of Skyworks Solutions in the 3rd quarter valued at approximately $789,000. Highland Capital Management LLC grew its position in shares of Skyworks Solutions by 91.4% in the 4th quarter. Highland Capital Management LLC now owns 42,564 shares of the semiconductor manufacturer’s stock worth $4,785,000 after buying an additional 20,330 shares during the period. LSV Asset Management boosted its stake in Skyworks Solutions by 24.2% during the third quarter. LSV Asset Management now owns 1,741,300 shares of the semiconductor manufacturer’s stock worth $171,675,000 after acquiring an additional 338,820 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Skyworks Solutions by 10,450.2% in the fourth quarter. International Assets Investment Management LLC now owns 84,507 shares of the semiconductor manufacturer’s stock worth $9,500,000 after purchasing an additional 83,706 shares during the period. Finally, abrdn plc increased its stake in shares of Skyworks Solutions by 50.0% during the fourth quarter. abrdn plc now owns 90,031 shares of the semiconductor manufacturer’s stock valued at $10,121,000 after purchasing an additional 30,022 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

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.