Skyworks Solutions (NASDAQ:SWKS) Price Target Raised to $110.00

Skyworks Solutions (NASDAQ:SWKS) had its target price increased by research analysts at Bank of America from $95.00 to $110.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “underperform” rating on the semiconductor manufacturer’s stock. Bank of America‘s target price would indicate a potential downside of 1.26% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird boosted their price objective on Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company decreased their price objective on Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. TD Cowen raised their price objective on shares of Skyworks Solutions from $90.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Citigroup cut their price target on Skyworks Solutions from $85.00 to $83.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Skyworks Solutions currently has a consensus rating of “Hold” and an average target price of $113.11.

Skyworks Solutions Stock Down 5.3 %

NASDAQ:SWKS traded down $6.29 during mid-day trading on Wednesday, hitting $111.40. 3,160,706 shares of the company’s stock traded hands, compared to its average volume of 2,478,008. The company has a market capitalization of $17.87 billion, a P/E ratio of 20.99, a P/E/G ratio of 5.59 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.19. The company has a fifty day moving average of $104.56 and a 200 day moving average of $103.18. Skyworks Solutions has a twelve month low of $85.06 and a twelve month high of $120.86.

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

Insiders Place Their Bets

In other news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total transaction of $49,720.00. Following the completion of the sale, the vice president now directly owns 9,564 shares in the company, valued at approximately $1,052,040. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Liam Griffin bought 11,142 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price 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 owns 104,153 shares in the company, valued at $9,373,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $110.00, for a total transaction of $49,720.00. Following the completion of the sale, the vice president now directly owns 9,564 shares of the company’s stock, valued at $1,052,040. The disclosure for this sale can be found here. Over the last quarter, 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

A number of institutional investors have recently added to or reduced their stakes in SWKS. Sequoia Financial Advisors LLC grew its stake in Skyworks Solutions by 4.0% during the second quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock worth $239,000 after buying an additional 87 shares during the period. HB Wealth Management LLC boosted 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 period. Safeguard Investment Advisory Group LLC increased its holdings in Skyworks Solutions by 0.6% in 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 purchasing an additional 99 shares in the last quarter. Albert D Mason Inc. raised its position in Skyworks Solutions by 0.7% in the first quarter. Albert D Mason Inc. now owns 14,591 shares of the semiconductor manufacturer’s stock valued at $1,581,000 after purchasing an additional 99 shares during the period. Finally, John G Ullman & Associates Inc. lifted its stake in shares of 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 purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

About Skyworks Solutions

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.