Skyworks Solutions (NASDAQ:SWKS) Given New $87.00 Price Target at Morgan Stanley

Skyworks Solutions (NASDAQ:SWKS) had its price objective reduced by investment analysts at Morgan Stanley from $117.00 to $87.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price target points to a potential upside of 3.57% from the stock’s previous close.

Several other research firms have also issued reports on SWKS. Stifel Nicolaus lifted their price target on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Rosenblatt Securities lifted their price objective on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. B. Riley dropped 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 report on Thursday, October 24th. Finally, Barclays lowered Skyworks Solutions from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $115.00 to $87.00 in a report on Thursday, October 10th. Three 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.00.

Skyworks Solutions Trading Up 1.0 %

Shares of NASDAQ SWKS opened at $84.00 on Wednesday. The business’s 50 day moving average is $95.44 and its two-hundred day moving average is $100.37. Skyworks Solutions has a 1-year low of $82.13 and a 1-year high of $120.86. The stock has a market capitalization of $13.42 billion, a P/E ratio of 22.70, a PEG ratio of 3.95 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results 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 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 13.73%. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 earnings per share. As a group, research analysts expect that Skyworks Solutions will post 5.39 EPS for the current year.

Insider Buying and Selling

In related news, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carlos S. Bori sold 10,177 shares of the 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 completion of the sale, the senior vice president now directly owns 27,026 shares of the company’s stock, valued at $2,638,548.38. The trade was a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,841 shares of company stock valued at $3,034,265 over the last ninety days. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Skyworks Solutions

Several institutional investors have recently modified their holdings of SWKS. Erste Asset Management GmbH purchased a new position in Skyworks Solutions in the third quarter worth $27,000. ARGA Investment Management LP increased its holdings in Skyworks Solutions by 1.3% during the third quarter. ARGA Investment Management LP now owns 306,299 shares of the semiconductor manufacturer’s stock worth $30,253,000 after buying an additional 3,927 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Skyworks Solutions by 12.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 178,455 shares of the semiconductor manufacturer’s stock worth $17,626,000 after acquiring an additional 20,000 shares during the period. PDT Partners LLC purchased a new position in Skyworks Solutions in the third quarter valued at about $1,926,000. Finally, Captrust Financial Advisors grew its position in shares of 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 during the period. 85.43% of the stock is 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.