Needham & Company LLC Reaffirms Hold Rating for Skyworks Solutions (NASDAQ:SWKS)

Skyworks Solutions (NASDAQ:SWKS)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

SWKS has been the topic of a number of other reports. Citigroup raised their price objective on Skyworks Solutions from $72.00 to $84.00 and gave the company a “sell” rating in a research note on Friday, January 10th. Stifel Nicolaus downgraded Skyworks Solutions from a “buy” rating to a “hold” rating and lowered their price target for the company from $105.00 to $62.00 in a report on Thursday. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, November 13th. Loop Capital assumed coverage on shares of Skyworks Solutions in a research note on Monday, November 11th. They issued a “hold” rating and a $90.00 target price on the stock. Finally, Piper Sandler cut their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Skyworks Solutions has a consensus rating of “Hold” and a consensus target price of $83.78.

Skyworks Solutions Stock Performance

SWKS stock opened at $65.69 on Thursday. The firm has a 50 day moving average of $88.93 and a two-hundred day moving average of $95.15. Skyworks Solutions has a 12 month low of $62.01 and a 12 month high of $120.86. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.96 and a beta of 1.14. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. As a group, equities analysts anticipate that Skyworks Solutions will post 4.45 EPS for the current fiscal year.

Insider Activity

In other news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the sale, the senior vice president now directly owns 15,960 shares in the company, valued at approximately $1,404,639.60. The trade was a 39.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWKS. Erste Asset Management GmbH bought a new stake in shares of Skyworks Solutions in the 3rd quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new stake in Skyworks Solutions in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. bought a new stake in Skyworks Solutions in the fourth quarter valued at $29,000. Investors Research Corp raised its stake in Skyworks Solutions by 167.7% during the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 213 shares in the last quarter. Finally, Matrix Trust Co bought a new position in shares of Skyworks Solutions during the third quarter valued at $39,000. Institutional investors 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.