JPMorgan Chase & Co. Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $100.00

Skyworks Solutions (NASDAQ:SWKS) had its price target decreased by research analysts at JPMorgan Chase & Co. from $120.00 to $100.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.05% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. B. Riley decreased their price target on shares of Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Susquehanna decreased 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 report on Wednesday. Robert W. Baird upped their target price on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Stifel Nicolaus upped 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, July 31st. Finally, Morgan Stanley decreased their target price on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.00.

Skyworks Solutions Trading Up 1.0 %

Shares of Skyworks Solutions stock opened at $84.00 on Wednesday. The company has a market capitalization of $13.42 billion, a P/E ratio of 22.70, a P/E/G ratio of 3.77 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 3.01. The company has a fifty day moving average of $95.44 and a 200 day moving average of $100.37. Skyworks Solutions has a fifty-two week low of $82.13 and a fifty-two week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping the consensus estimate of $1.52 by $0.03. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.95 EPS. On average, sell-side analysts anticipate that Skyworks Solutions will post 5.39 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the transaction, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert John Terry sold 10,522 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the transaction, the senior vice president now owns 15,960 shares in the company, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,841 shares of company stock worth $3,034,265. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of SWKS. Vulcan Value Partners LLC lifted its position in Skyworks Solutions by 38.8% during the second quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock valued at $481,552,000 after acquiring an additional 1,262,964 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Skyworks Solutions by 54.9% in the second quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock worth $370,768,000 after buying an additional 1,233,618 shares during the last quarter. Swedbank AB purchased a new position in shares of Skyworks Solutions in the first quarter worth $110,086,000. Vanguard Group Inc. raised its holdings in shares of Skyworks Solutions by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after buying an additional 745,374 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in shares of Skyworks Solutions by 5,769.6% in the third quarter. Mizuho Securities USA LLC now owns 726,005 shares of the semiconductor manufacturer’s stock worth $71,708,000 after buying an additional 713,636 shares during 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.