JPMorgan Chase & Co. Raises Skyworks Solutions (NASDAQ:SWKS) Price Target to $120.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $105.00 to $120.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 6.07% from the company’s previous close.

Several other brokerages have also commented on SWKS. Robert W. Baird increased their price target on shares of Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday. Mizuho reduced their price objective on shares of Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Stifel Nicolaus upped their price target on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Benchmark cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Wolfe Research downgraded Skyworks Solutions from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $113.94.

Skyworks Solutions Stock Performance

Skyworks Solutions stock traded down $4.56 during midday trading on Wednesday, reaching $113.13. 3,614,436 shares of the stock traded hands, compared to its average volume of 2,481,116. Skyworks Solutions has a fifty-two week low of $85.06 and a fifty-two week high of $120.86. The firm has a market cap of $18.15 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 5.59 and a beta of 1.23. The firm has a fifty day moving average price of $104.56 and a two-hundred day moving average price of $103.18. The company has a current ratio of 5.19, a quick ratio of 3.81 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. The business had revenue of $905.50 million for the quarter, compared to analyst estimates of $900.41 million. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. The firm’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.50 earnings per share. On average, equities research analysts forecast that Skyworks Solutions will post 5.14 earnings per share for the current year.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, CEO Liam Griffin bought 11,142 shares of Skyworks Solutions stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average price of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the purchase, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at $9,373,770. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total transaction of $54,240.00. Following the sale, the vice president now owns 9,112 shares of the company’s stock, valued at $1,093,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Liam Griffin acquired 11,142 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the transaction, the chief executive officer now directly owns 104,153 shares in the company, valued at approximately $9,373,770. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 26,337 shares of company stock worth $2,399,797. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Skyworks Solutions

Hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its position in Skyworks Solutions by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock worth $239,000 after purchasing an additional 87 shares during the last quarter. HB Wealth Management LLC grew its position in Skyworks Solutions by 3.0% during the 1st quarter. HB Wealth Management LLC now owns 3,219 shares of the semiconductor manufacturer’s stock worth $349,000 after purchasing an additional 94 shares during the last quarter. Safeguard Investment Advisory Group LLC lifted its stake in Skyworks Solutions by 0.6% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 15,694 shares of the semiconductor manufacturer’s stock valued at $1,764,000 after acquiring an additional 99 shares during the period. Albert D Mason Inc. grew its position in Skyworks Solutions by 0.7% during the first quarter. Albert D Mason Inc. now owns 14,591 shares of the semiconductor manufacturer’s stock valued at $1,581,000 after buying an additional 99 shares during the period. Finally, John G Ullman & Associates Inc. raised its position in Skyworks Solutions by 3.1% during the fourth quarter. John G Ullman & Associates Inc. now owns 3,300 shares of the semiconductor manufacturer’s stock worth $371,000 after acquiring an additional 100 shares during the period. Institutional investors own 85.43% of the company’s stock.

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.