Barclays Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $70.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective cut by analysts at Barclays from $80.00 to $70.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the semiconductor manufacturer’s stock. Barclays‘s target price would indicate a potential downside of 25.25% from the stock’s current price.

Several other research analysts have also weighed in on the company. B. Riley dropped their price target on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Susquehanna reduced their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Mizuho lowered their price objective on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Citigroup upped their price objective on shares of Skyworks Solutions from $72.00 to $84.00 and gave the company a “sell” rating in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Skyworks Solutions currently has a consensus rating of “Hold” and an average target price of $101.12.

Skyworks Solutions Stock Up 2.4 %

Skyworks Solutions stock opened at $93.64 on Friday. Skyworks Solutions has a 52 week low of $82.13 and a 52 week high of $120.86. The stock has a market cap of $14.97 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.99 and a beta of 1.15. The company’s 50-day moving average price is $88.57 and its two-hundred day moving average price is $97.65. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company earned $1.95 EPS. Skyworks Solutions’s revenue was down 15.9% on a year-over-year basis. On average, analysts expect that Skyworks Solutions will post 4.45 EPS for the current fiscal year.

Insider Activity

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the 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 sale, the senior vice president now directly owns 15,960 shares of the company’s stock, 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. 0.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in shares of Skyworks Solutions in the 2nd quarter worth approximately $219,000. American Century Companies Inc. increased its position in shares of Skyworks Solutions by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 214,931 shares of the semiconductor manufacturer’s stock worth $22,907,000 after purchasing an additional 11,643 shares in the last quarter. Federated Hermes Inc. grew its position in Skyworks Solutions by 8.1% during the 2nd quarter. Federated Hermes Inc. now owns 16,823 shares of the semiconductor manufacturer’s stock worth $1,793,000 after acquiring an additional 1,264 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Skyworks Solutions in the second quarter worth $2,041,000. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Skyworks Solutions by 8.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 25,508 shares of the semiconductor manufacturer’s stock worth $2,704,000 after purchasing an additional 1,966 shares during the last quarter. 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.