Rosenblatt Securities Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $130.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective cut by stock analysts at Rosenblatt Securities from $150.00 to $130.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Rosenblatt Securities’ target price suggests a potential upside of 42.78% from the company’s previous close.

Several other brokerages have also recently commented on SWKS. Summit Insights cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Friday. BNP Paribas lowered shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and set a $110.00 price objective for the company. in a research note on Wednesday, September 20th. Piper Sandler decreased their price target on shares of Skyworks Solutions from $125.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday. StockNews.com downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Barclays cut shares of Skyworks Solutions from an “overweight” rating to an “equal weight” rating and set a $115.00 price objective on the stock. in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Skyworks Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.88.

Skyworks Solutions Price Performance

SWKS stock opened at $91.05 on Friday. Skyworks Solutions has a 52 week low of $85.06 and a 52 week high of $123.69. The company has a quick ratio of 2.31, a current ratio of 3.83 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $97.15 and a two-hundred day simple moving average of $103.40. The firm has a market capitalization of $14.51 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 0.76 and a beta of 1.33.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Monday, August 7th. The semiconductor manufacturer reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.30. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Skyworks Solutions had a net margin of 20.97% and a return on equity of 23.89%. The firm’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same quarter last year, the business posted $2.12 EPS. Analysts anticipate that Skyworks Solutions will post 7.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Liam Griffin sold 13,211 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $104.08, for a total transaction of $1,375,000.88. Following the transaction, the chief executive officer now directly owns 52,540 shares in the company, valued at $5,468,363.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Liam Griffin sold 13,211 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $104.08, for a total transaction of $1,375,000.88. Following the transaction, the chief executive officer now directly owns 52,540 shares in the company, valued at $5,468,363.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin L. Beebe sold 4,851 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $103.97, for a total transaction of $504,358.47. Following the transaction, the director now directly owns 51,855 shares of the company’s stock, valued at approximately $5,391,364.35. The disclosure for this sale can be found here. Insiders have sold 58,962 shares of company stock worth $6,225,401 over the last ninety days. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SouthState Corp acquired a new position in Skyworks Solutions during the 1st quarter valued at about $26,000. True Wealth Design LLC acquired a new stake in shares of Skyworks Solutions in the 4th quarter worth approximately $26,000. Fortis Capital Advisors LLC acquired a new stake in shares of Skyworks Solutions in the 4th quarter worth approximately $27,000. Tyler Stone Wealth Management acquired a new stake in shares of Skyworks Solutions in the 2nd quarter worth approximately $29,000. Finally, Pacifica Partners Inc. lifted its stake in shares of Skyworks Solutions by 1,831.8% in the 3rd quarter. Pacifica Partners Inc. now owns 425 shares of the semiconductor manufacturer’s stock worth $41,000 after acquiring an additional 403 shares during the period. 81.39% of the stock is 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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.