Morgan Stanley Forecasts Strong Price Appreciation for Skyworks Solutions (NASDAQ:SWKS) Stock

Skyworks Solutions (NASDAQ:SWKS) had its target price increased by investment analysts at Morgan Stanley from $72.00 to $95.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley‘s price target would suggest a potential upside of 9.65% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. William Blair reiterated a “buy” rating on shares of Skyworks Solutions in a research report on Wednesday, July 29th. Bank of America reaffirmed an “underperform” rating and set a $65.00 target price on shares of Skyworks Solutions in a report on Wednesday, July 29th. UBS Group raised their price target on shares of Skyworks Solutions from $70.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday. Susquehanna upped their price target on shares of Skyworks Solutions from $65.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. Finally, Citigroup increased their price objective on Skyworks Solutions from $64.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 6th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $79.00.

Skyworks Solutions Stock Performance

SWKS stock traded down $0.94 during midday trading on Monday, reaching $86.64. 1,491,448 shares of the company’s stock traded hands, compared to its average volume of 5,099,564. The firm has a market capitalization of $13.04 billion, a PE ratio of 44.73, a price-to-earnings-growth ratio of 2.39 and a beta of 1.51. The company has a 50-day moving average price of $80.48 and a two-hundred day moving average price of $67.55. Skyworks Solutions has a 52 week low of $51.93 and a 52 week high of $92.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.94 and a current ratio of 3.10.

Institutional Investors Weigh In On Skyworks Solutions

Several institutional investors have recently bought and sold shares of the stock. Quest 10 Wealth Builders Inc. boosted its holdings in shares of Skyworks Solutions by 61.9% during the third quarter. Quest 10 Wealth Builders Inc. now owns 680 shares of the semiconductor manufacturer’s stock worth $58,000 after purchasing an additional 260 shares during the period. Chicago Partners Investment Group LLC raised its position in Skyworks Solutions by 57.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 16,135 shares of the semiconductor manufacturer’s stock valued at $1,346,000 after purchasing an additional 5,895 shares during the last quarter. Ascent Group LLC lifted its holdings in Skyworks Solutions by 32.0% in the 3rd quarter. Ascent Group LLC now owns 6,393 shares of the semiconductor manufacturer’s stock worth $546,000 after buying an additional 1,549 shares during the period. Greenleaf Trust purchased a new stake in Skyworks Solutions in the 3rd quarter worth approximately $204,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Skyworks Solutions in the 3rd quarter worth approximately $4,054,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

About Skyworks Solutions

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.