Skyworks Solutions (NASDAQ:SWKS) Given New $70.00 Price Target at Barclays

Skyworks Solutions (NASDAQ:SWKS) had its price objective cut by stock analysts at Barclays from $80.00 to $70.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the semiconductor manufacturer’s stock. Barclays‘s price objective would suggest a potential downside of 23.45% from the stock’s current price.

A number of other equities research analysts also recently weighed in on SWKS. Craig Hallum dropped their price objective on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, November 13th. Citigroup raised their price target on Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a report on Friday, January 10th. B. Riley lowered their price objective on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Susquehanna dropped their target price on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.12.

Skyworks Solutions Price Performance

Shares of SWKS opened at $91.44 on Friday. Skyworks Solutions has a 52 week low of $82.13 and a 52 week high of $120.86. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 1.99 and a beta of 1.15. The stock has a 50 day moving average of $88.48 and a 200-day moving average of $97.81.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The firm’s revenue was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.95 earnings per share. As a group, analysts forecast that Skyworks Solutions will post 4.45 EPS for the current year.

Insider Activity

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the sale, the senior vice president now directly owns 15,960 shares in the company, valued at $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

Several hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in Skyworks Solutions in the second quarter worth about $219,000. American Century Companies Inc. grew its stake in shares of Skyworks Solutions by 5.7% in the 2nd quarter. American Century Companies Inc. now owns 214,931 shares of the semiconductor manufacturer’s stock worth $22,907,000 after purchasing an additional 11,643 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Skyworks Solutions by 8.1% in the 2nd quarter. Federated Hermes Inc. now owns 16,823 shares of the semiconductor manufacturer’s stock worth $1,793,000 after purchasing an additional 1,264 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Skyworks Solutions during the second quarter valued at approximately $2,041,000. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Skyworks Solutions by 8.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 25,508 shares of the semiconductor manufacturer’s stock valued at $2,704,000 after purchasing an additional 1,966 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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.