B. Riley Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $110.00

Skyworks Solutions (NASDAQ:SWKS) had its price target cut by equities research analysts at B. Riley from $120.00 to $110.00 in a research report issued on Thursday,Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. B. Riley’s price objective would indicate a potential upside of 32.24% from the company’s previous close.

A number of other brokerages have also commented on SWKS. JPMorgan Chase & Co. cut their price objective on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday. TD Cowen increased their price target on Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Rosenblatt Securities upped their target price on Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their price target on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Loop Capital assumed coverage on shares of Skyworks Solutions in a report on Monday. They issued a “hold” rating and a $90.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Skyworks Solutions presently has an average rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Stock Performance

NASDAQ:SWKS opened at $83.18 on Thursday. The firm’s fifty day simple moving average is $95.79 and its 200 day simple moving average is $100.49. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a twelve month low of $82.13 and a twelve month high of $120.86. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 3.95 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, beating the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.73% and a net margin of 14.27%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted $1.95 EPS. The company’s revenue was down 15.9% on a year-over-year basis. As a group, equities research analysts expect that Skyworks Solutions will post 5.39 earnings per share for the current fiscal year.

Insider Activity at Skyworks Solutions

In related news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the sale, the senior vice president now directly owns 15,960 shares in the company, valued at $1,404,639.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the sale, the senior vice president now directly owns 15,960 shares in the company, valued at approximately $1,404,639.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of the firm’s stock in a transaction dated 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 owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,684 shares of company stock worth $3,232,333 in the last three months. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Skyworks Solutions

A number of institutional investors and hedge funds have recently modified their holdings of SWKS. Sequoia Financial Advisors LLC increased its stake in Skyworks Solutions by 4.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock worth $239,000 after purchasing an additional 87 shares in the last quarter. AlphaMark Advisors LLC increased its position in shares of Skyworks Solutions by 14.8% in the second quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock worth $83,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Skyworks Solutions by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock valued at $1,468,000 after acquiring an additional 100 shares during the period. Zega Financial LLC lifted its position in shares of Skyworks Solutions by 5.0% in the 2nd quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock valued at $224,000 after acquiring an additional 100 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its stake in Skyworks Solutions by 0.7% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock worth $1,569,000 after purchasing an additional 107 shares during the period. 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.