Citigroup Increases Skyworks Solutions (NASDAQ:SWKS) Price Target to $84.00

Skyworks Solutions (NASDAQ:SWKS) had its target price raised by equities research analysts at Citigroup from $72.00 to $84.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “sell” rating on the semiconductor manufacturer’s stock. Citigroup’s price target indicates a potential downside of 6.87% from the company’s current price.

A number of other equities research analysts also recently commented on SWKS. Piper Sandler decreased their target price on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. B. Riley decreased their price objective on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Loop Capital started coverage on shares of Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 target price for the company. Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, November 13th. Finally, Susquehanna dropped their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $101.71.

Skyworks Solutions Trading Down 2.6 %

SWKS stock opened at $90.20 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. Skyworks Solutions has a 1-year low of $82.13 and a 1-year high of $120.86. The business has a 50 day simple moving average of $88.33 and a two-hundred day simple moving average of $98.16. The company has a market capitalization of $14.42 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 2.01 and a beta of 1.15.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share 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 analyst estimates of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. Skyworks Solutions’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.95 earnings per share. Research analysts anticipate that Skyworks Solutions will post 4.45 EPS for the current fiscal year.

Insider Transactions at Skyworks Solutions

In related news, SVP Robert John Terry sold 10,522 shares of the 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 transaction, the senior vice president now owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This represents a 39.73 % 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. Also, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the sale, the senior vice president now directly owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,520 shares of company stock worth $2,083,803. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SWKS. Forsta AP Fonden lifted its position in shares of Skyworks Solutions by 27.0% in the 3rd quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer’s stock worth $3,674,000 after purchasing an additional 7,900 shares during the period. Versor Investments LP raised its stake in Skyworks Solutions by 115.3% in the third quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock worth $1,966,000 after buying an additional 10,658 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Skyworks Solutions by 25.3% during the third quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock worth $152,915,000 after buying an additional 325,672 shares during the period. Captrust Financial Advisors boosted its position in Skyworks Solutions by 20.2% during the 3rd quarter. Captrust Financial Advisors now owns 36,603 shares of the semiconductor manufacturer’s stock valued at $3,615,000 after acquiring an additional 6,151 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new stake in Skyworks Solutions during the 3rd quarter valued at $1,570,000. 85.43% of the stock is currently owned by institutional investors.

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.