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

Skyworks Solutions (NASDAQ:SWKS) had its price target upped by equities researchers at Mizuho from $60.00 to $65.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage presently has an “underperform” rating on the semiconductor manufacturer’s stock. Mizuho’s price objective indicates a potential downside of 7.98% from the company’s previous close.

Several other analysts have also weighed in on SWKS. Arete Research upgraded Skyworks Solutions to a “strong-buy” rating in a report on Thursday, August 14th. Susquehanna boosted their price objective on shares of Skyworks Solutions from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. The Goldman Sachs Group began coverage on shares of Skyworks Solutions in a research note on Thursday, July 10th. They set a “sell” rating and a $70.00 price target for the company. Finally, Barclays upgraded shares of Skyworks Solutions from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $58.00 to $88.00 in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $83.94.

Skyworks Solutions Stock Down 3.8%

Shares of NASDAQ SWKS opened at $70.64 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.80 and a debt-to-equity ratio of 0.09. Skyworks Solutions has a 12-month low of $47.93 and a 12-month high of $95.46. The firm’s 50-day moving average price is $75.74 and its 200-day moving average price is $72.83. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 28.26 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Wednesday, November 5th. The semiconductor manufacturer reported $1.76 EPS for the quarter, topping the consensus estimate of $1.53 by $0.23. Skyworks Solutions had a return on equity of 11.77% and a net margin of 9.88%.During the same period last year, the company earned $1.55 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that Skyworks Solutions will post 3.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Skyworks Solutions

A number of institutional investors have recently modified their holdings of SWKS. Pzena Investment Management LLC grew its stake in Skyworks Solutions by 57.3% in the second quarter. Pzena Investment Management LLC now owns 12,207,643 shares of the semiconductor manufacturer’s stock worth $909,714,000 after purchasing an additional 4,444,747 shares in the last quarter. Norges Bank purchased a new stake in shares of Skyworks Solutions in the 2nd quarter worth $140,807,000. Invesco Ltd. lifted its holdings in shares of Skyworks Solutions by 31.0% in the 1st quarter. Invesco Ltd. now owns 4,141,659 shares of the semiconductor manufacturer’s stock worth $267,675,000 after buying an additional 979,962 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of Skyworks Solutions during the 2nd quarter worth $67,841,000. Finally, Rafferty Asset Management LLC increased its stake in shares of Skyworks Solutions by 52.1% during the second quarter. Rafferty Asset Management LLC now owns 2,024,243 shares of the semiconductor manufacturer’s stock valued at $150,847,000 after buying an additional 693,379 shares during the period. 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.