Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $95.00 by Analysts at Piper Sandler

Skyworks Solutions (NASDAQ:SWKS) had its price target decreased by Piper Sandler from $115.00 to $95.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. Piper Sandler’s target price would indicate a potential downside of 0.21% from the company’s previous close.

A number of other equities analysts have also commented on the company. Craig Hallum lifted their price objective on Skyworks Solutions from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Robert W. Baird upped their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Skyworks Solutions from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Finally, Bank of America increased their price target on Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $109.88.

Skyworks Solutions Stock Up 0.1 %

NASDAQ:SWKS opened at $95.20 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29. Skyworks Solutions has a one year low of $85.06 and a one year high of $120.86. The firm’s 50 day simple moving average is $100.26 and its 200 day simple moving average is $101.46. The company has a market cap of $15.21 billion, a PE ratio of 19.63, a P/E/G ratio of 4.34 and a beta of 1.20.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21. The company had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $900.41 million. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. Skyworks Solutions’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 earnings per share. On average, research analysts anticipate that Skyworks Solutions will post 5.21 earnings per share for the current year.

Insider Activity

In related news, SVP Reza Kasnavi sold 1,843 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the sale, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related 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 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Reza Kasnavi sold 1,843 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the transaction, the senior vice president now owns 17,455 shares of the company’s stock, valued at $1,875,888.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,341 shares of company stock worth $2,142,110 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyworks Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in SWKS. Duality Advisers LP bought a new stake in Skyworks Solutions in the first quarter worth about $1,517,000. Brookstone Capital Management bought a new stake in shares of Skyworks Solutions in the 1st quarter worth approximately $262,000. Advisors Asset Management Inc. lifted its stake in Skyworks Solutions by 73.3% in the first quarter. Advisors Asset Management Inc. now owns 16,067 shares of the semiconductor manufacturer’s stock valued at $1,740,000 after purchasing an additional 6,795 shares during the last quarter. M&G Plc bought a new position in Skyworks Solutions during the second quarter valued at $797,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Skyworks Solutions by 10.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 450,917 shares of the semiconductor manufacturer’s stock worth $48,843,000 after buying an additional 43,373 shares during 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.