Skyworks Solutions (NASDAQ:SWKS) Stock Rating Cut to “Equal Weight” at Barclays

Barclays cut shares of Skyworks Solutions (NASDAQ:SWKS) from an overweight rating to an equal weight rating in a research report released on Thursday morning, Marketbeat Ratings reports. Barclays currently has $79.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $70.00.

Other analysts also recently issued reports about the company. Susquehanna lowered their target price on Skyworks Solutions from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday. Jefferies Financial Group cut Skyworks Solutions to a “buy” rating in a research note on Wednesday. BMO Capital Markets began coverage on Skyworks Solutions in a report on Friday, August 21st. They issued a “market perform” rating and a $70.00 price target for the company. Stifel Nicolaus reduced their price target on Skyworks Solutions from $75.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, July 29th. Finally, Mizuho set a $58.00 price objective on Skyworks Solutions in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.28.

Skyworks Solutions Price Performance

Shares of SWKS stock opened at $81.21 on Thursday. The company has a market capitalization of $12.22 billion, a PE ratio of 71.24, a price-to-earnings-growth ratio of 2.10 and a beta of 1.51. The firm has a fifty day simple moving average of $81.84 and a 200-day simple moving average of $68.05. The company has a current ratio of 3.34, a quick ratio of 1.94 and a debt-to-equity ratio of 0.43. Skyworks Solutions has a twelve month low of $51.93 and a twelve month high of $92.80.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share 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 business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. Equities research analysts anticipate that Skyworks Solutions will post 3.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System lifted its holdings 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 during the last quarter. Confluence Wealth Services Inc. acquired a new position in Skyworks Solutions in the third quarter valued at approximately $248,000. Lido Advisors LLC boosted its stake in Skyworks Solutions by 2.2% in the third quarter. Lido Advisors LLC now owns 8,150 shares of the semiconductor manufacturer’s stock valued at $697,000 after acquiring an additional 179 shares during the period. Keybank National Association OH grew its holdings in shares of Skyworks Solutions by 6.9% during the third quarter. Keybank National Association OH now owns 312,091 shares of the semiconductor manufacturer’s stock valued at $26,678,000 after purchasing an additional 20,196 shares during the last quarter. Finally, New York Life Investment Management LLC grew its holdings in shares of Skyworks Solutions by 11.0% during the third quarter. New York Life Investment Management LLC now owns 43,356 shares of the semiconductor manufacturer’s stock valued at $3,706,000 after purchasing an additional 4,300 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

More Skyworks Solutions News

Here are the key news stories impacting Skyworks Solutions this week:

• Positive Sentiment: Skyworks was upgraded to Zacks Rank #1 (Strong Buy), reflecting improved earnings-prospect assessments and potentially supporting near-term sentiment. Article: All You Need to Know About Skyworks Rating Upgrade to Strong Buy
• Positive Sentiment: Fiscal Q4 earnings and revenue came in above consensus, with reported surprises of 0.79% and 1.49%, respectively. However, both sales and earnings were down year over year, limiting the upside from the beat. Article: Skyworks Solutions Tops Q4 Earnings and Revenue Estimates
• Neutral Sentiment: Management sees potential to improve gross margins to 50%–55% over the next 24–36 months as the Qorvo combination progresses. The longer-term opportunity is balanced by near-term integration and execution risks. Article: Skyworks Targets Higher Gross Margins as Qorvo Deal Reshapes Outlook
• Negative Sentiment: The main concern is first-quarter sales guidance below expectations. Analysts also flagged Android handset weakness and a revenue contraction following the Qorvo deal, delaying anticipated merger benefits. Article: Skyworks Stocks Decline as Qorvo Integration Starts With a Revenue Contraction
• Negative Sentiment: Analyst actions added pressure: Barclays cut its rating to Equal Weight, while Citi, RBC and Susquehanna lowered price targets; Goldman Sachs initiated coverage with a Sell rating. Article: Analysts Lower Forecasts on Skyworks Following Q4 Results

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.