Skyworks Solutions (NASDAQ:SWKS) Price Target Lowered to $85.00 at Piper Sandler

Skyworks Solutions (NASDAQ:SWKS) had its price objective reduced by equities research analysts at Piper Sandler from $95.00 to $85.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. Piper Sandler’s price objective suggests a potential upside of 1.19% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Morgan Stanley dropped their price target on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Barclays reduced their price objective on shares of Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Stock Performance

NASDAQ:SWKS opened at $84.00 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 3.01. The stock has a 50-day simple moving average of $95.44 and a two-hundred day simple moving average of $100.37. The firm has a market capitalization of $13.42 billion, a PE ratio of 22.70, a P/E/G ratio of 3.77 and a beta of 1.21. Skyworks Solutions has a 52-week low of $82.13 and a 52-week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The firm’s revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.95 EPS. Analysts forecast that Skyworks Solutions will post 5.39 EPS for the current year.

Insider Buying and Selling

In other news, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction on Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the completion of the sale, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert John Terry sold 10,522 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the sale, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,841 shares of company stock valued at $3,034,265. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

Several large investors have recently added to or reduced their stakes in SWKS. Vanguard Group Inc. raised its stake in shares of Skyworks Solutions by 4.0% during the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock valued at $2,101,619,000 after acquiring an additional 745,374 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Skyworks Solutions by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,831,154 shares of the semiconductor manufacturer’s stock worth $477,173,000 after purchasing an additional 176,070 shares during the period. Vulcan Value Partners LLC lifted its holdings in shares of Skyworks Solutions by 38.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock worth $481,552,000 after buying an additional 1,262,964 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Skyworks Solutions by 19.3% in the 2nd quarter. Pzena Investment Management LLC now owns 4,090,292 shares of the semiconductor manufacturer’s stock worth $435,943,000 after buying an additional 661,144 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Skyworks Solutions by 54.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock worth $370,768,000 after buying an additional 1,233,618 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.