Skyworks Solutions (NASDAQ:SWKS) Rating Reiterated by Piper Sandler

Skyworks Solutions (NASDAQ:SWKS)‘s stock had its “neutral” rating reaffirmed by Piper Sandler in a research note issued on Wednesday, Benzinga reports. They currently have a $115.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $95.00. Piper Sandler’s target price suggests a potential upside of 4.85% from the stock’s current price.

Several other equities research analysts also recently weighed in on SWKS. B. Riley raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and increased their target price for the company from $96.00 to $130.00 in a research note on Thursday, June 20th. Barclays increased their target price on shares of Skyworks Solutions from $85.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday. Benchmark downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. UBS Group reduced their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, KeyCorp downgraded shares of Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.19.

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS traded down $8.01 during midday trading on Wednesday, reaching $109.68. The stock had a trading volume of 1,266,218 shares, compared to its average volume of 2,465,032. The stock has a 50-day moving average of $104.56 and a 200-day moving average of $103.18. 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 market capitalization of $17.60 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 5.59 and a beta of 1.23. Skyworks Solutions has a 12-month low of $85.06 and a 12-month high of $120.86.

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

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total value of $54,240.00. Following the transaction, the vice president now owns 9,112 shares of the company’s stock, valued at $1,093,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total value of $54,240.00. Following the transaction, the vice president now owns 9,112 shares of the company’s stock, valued at $1,093,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert A. Schriesheim sold 25,433 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the sale, the director now owns 60,881 shares in the company, valued at $5,495,727.87. The disclosure for this sale can be found here. Insiders have sold 26,337 shares of company stock valued at $2,399,797 over the last 90 days. 0.34% of the stock is owned by insiders.

Institutional Trading of Skyworks Solutions

Large investors have recently made changes to their positions in the company. Duality Advisers LP purchased a new stake in shares of Skyworks Solutions during the first quarter worth approximately $1,517,000. State of Tennessee Treasury Department increased its stake in Skyworks Solutions by 152.8% in the fourth quarter. State of Tennessee Treasury Department now owns 118,960 shares of the semiconductor manufacturer’s stock valued at $13,373,000 after purchasing an additional 71,899 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Skyworks Solutions in the fourth quarter valued at approximately $10,053,000. Brookstone Capital Management purchased a new position in Skyworks Solutions in the first quarter valued at approximately $262,000. Finally, FIL Ltd increased its stake in Skyworks Solutions by 2.4% in the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after purchasing an additional 64,389 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

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.