Skyworks Solutions (NASDAQ:SWKS) Stock Gets Price Target Increase from JPMorgan Chase & Co.

Skyworks Solutions (NASDAQ:SWKS) had its price target raised by analysts at JPMorgan Chase & Co. from $65.00 to $77.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 5.41% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Bank of America decreased their price objective on Skyworks Solutions from $78.00 to $72.00 and set an “underperform” rating on the stock in a report on Wednesday, November 4th. Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Monday, July 27th. Zacks Research raised shares of Skyworks Solutions from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Skyworks Solutions in a research report on Wednesday, October 28th. Finally, William Blair reaffirmed a “buy” rating on shares of Skyworks Solutions in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Skyworks Solutions currently has an average rating of “Hold” and a consensus target price of $77.94.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock traded down $1.42 during midday trading on Tuesday, hitting $81.41. The company had a trading volume of 620,728 shares, compared to its average volume of 5,116,882. The company has a fifty day simple moving average of $82.48 and a 200 day simple moving average of $68.30. The stock has a market cap of $12.25 billion, a price-to-earnings ratio of 71.39, a PEG ratio of 2.10 and a beta of 1.51. The company has a quick ratio of 1.94, a current ratio of 3.34 and a debt-to-equity ratio of 0.43. Skyworks Solutions has a 12-month low of $51.93 and a 12-month high of $92.80.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. Skyworks Solutions had a net margin of 4.35% and a return on equity of 9.70%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. As a group, analysts predict that Skyworks Solutions will post 3.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skyworks Solutions

Institutional investors have recently modified their holdings of the business. White Pine Capital LLC acquired a new position in shares of Skyworks Solutions during the third quarter worth about $994,000. Hantz Financial Services Inc. lifted its holdings in shares of Skyworks Solutions by 33.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,080 shares of the semiconductor manufacturer’s stock valued at $349,000 after buying an additional 1,034 shares during the period. McKinney Capital Management LLC boosted its stake in shares of Skyworks Solutions by 19.1% in the third quarter. McKinney Capital Management LLC now owns 22,810 shares of the semiconductor manufacturer’s stock valued at $1,950,000 after buying an additional 3,660 shares in the last quarter. Aberdeen Group plc grew its holdings in Skyworks Solutions by 146.2% during the third quarter. Aberdeen Group plc now owns 23,862 shares of the semiconductor manufacturer’s stock worth $2,040,000 after acquiring an additional 14,169 shares during the period. Finally, Maryland State Retirement & Pension System raised its position in Skyworks Solutions by 32.2% in the third quarter. Maryland State Retirement & Pension System now owns 9,923 shares of the semiconductor manufacturer’s stock worth $848,000 after acquiring an additional 2,416 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc designs and manufactures semiconductor products that connect people, devices and networks. Its portfolio includes radio-frequency (RF) components and other analog and mixed-signal solutions used to transmit, receive and process signals.

The company’s products include amplifiers, filters, switches and integrated RF modules, as well as connectivity solutions. They are used in smartphones and other mobile devices, automotive systems, broadband equipment, wireless infrastructure and Internet of Things applications.

Headquartered in Irvine, California, Skyworks serves customers around the world.