Piper Sandler Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $70.00

Skyworks Solutions (NASDAQ:SWKS) had its price target cut by equities research analysts at Piper Sandler from $85.00 to $70.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor manufacturer’s stock. Piper Sandler’s price target points to a potential downside of 19.61% from the company’s current price.

Several other equities research analysts have also issued reports on SWKS. Susquehanna lowered their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, November 13th. Mizuho downgraded Skyworks Solutions from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $105.00 to $62.00 in a report on Thursday. B. Riley cut Skyworks Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $110.00 to $65.00 in a report on Thursday. Finally, Loop Capital initiated coverage on Skyworks Solutions in a research note on Monday, November 11th. They issued a “hold” rating and a $90.00 target price on the stock. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of “Hold” and an average target price of $85.47.

Skyworks Solutions Trading Up 0.8 %

Shares of NASDAQ SWKS opened at $87.08 on Thursday. Skyworks Solutions has a 1-year low of $82.13 and a 1-year high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. The business’s 50 day moving average is $89.79 and its two-hundred day moving average is $95.73. The stock has a market capitalization of $14.00 billion, a P/E ratio of 23.54, a PEG ratio of 1.96 and a beta of 1.14.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. As a group, research analysts expect that Skyworks Solutions will post 4.45 EPS for the current year.

Insider Activity at Skyworks Solutions

In other news, SVP Robert John Terry sold 1,821 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the transaction, the senior vice president now directly owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Skyworks Solutions

Several hedge funds have recently modified their holdings of SWKS. Plato Investment Management Ltd lifted its position in Skyworks Solutions by 1,347.1% during the 4th quarter. Plato Investment Management Ltd now owns 3,010 shares of the semiconductor manufacturer’s stock worth $268,000 after acquiring an additional 2,802 shares during the period. SBI Securities Co. Ltd. acquired a new position in Skyworks Solutions in the 4th quarter worth approximately $29,000. Jones Financial Companies Lllp raised its position in Skyworks Solutions by 43.6% during the 4th quarter. Jones Financial Companies Lllp now owns 10,351 shares of the semiconductor manufacturer’s stock worth $918,000 after buying an additional 3,144 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Skyworks Solutions by 263.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,851 shares of the semiconductor manufacturer’s stock worth $164,000 after buying an additional 1,342 shares during the last quarter. Finally, Keynote Financial Services LLC boosted its holdings in shares of Skyworks Solutions by 3.6% in the 4th quarter. Keynote Financial Services LLC now owns 14,943 shares of the semiconductor manufacturer’s stock valued at $1,325,000 after acquiring an additional 526 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.