Skyworks Solutions (NASDAQ:SWKS) Stock Price Expected to Rise, Citigroup Analyst Says

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

A number of other analysts have also recently commented on SWKS. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, November 13th. Piper Sandler dropped their price objective on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. B. Riley decreased their target price on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Craig Hallum dropped their price target on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Barclays cut their price target on Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.71.

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS opened at $90.20 on Friday. 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 $14.42 billion, a P/E ratio of 24.38, a P/E/G ratio of 2.01 and a beta of 1.15. The company’s 50-day moving average is $88.33 and its 200 day moving average is $98.16. 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 (NASDAQ:SWKS) last posted 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 for the quarter, compared to the consensus estimate of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business’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 EPS. On average, sell-side analysts expect that Skyworks Solutions will post 4.45 earnings per share for the current year.

Insider Transactions at Skyworks Solutions

In other news, SVP Robert John Terry sold 10,522 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 15,960 shares in the company, valued at $1,404,639.60. This represents a 39.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Carlos S. Bori sold 10,177 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the sale, the senior vice president now owns 27,026 shares of the company’s stock, valued at $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. Insiders have sold a total of 22,520 shares of company stock worth $2,083,803 in the last ninety days. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

A number of institutional investors have recently bought and sold shares of SWKS. Acadian Asset Management LLC bought a new position in shares of Skyworks Solutions in the second quarter worth about $219,000. Prudential PLC raised its stake in Skyworks Solutions by 161.6% during the 2nd quarter. Prudential PLC now owns 4,845 shares of the semiconductor manufacturer’s stock worth $516,000 after acquiring an additional 2,993 shares during the period. Choreo LLC lifted its holdings in Skyworks Solutions by 128.5% during the second quarter. Choreo LLC now owns 8,903 shares of the semiconductor manufacturer’s stock valued at $948,000 after purchasing an additional 5,007 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of Skyworks Solutions by 26.5% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,496 shares of the semiconductor manufacturer’s stock worth $266,000 after purchasing an additional 523 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Skyworks Solutions by 8.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 20,037 shares of the semiconductor manufacturer’s stock valued at $2,136,000 after purchasing an additional 1,508 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.