The Goldman Sachs Group Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $70.00

Skyworks Solutions (NASDAQ:SWKS) had its target price lowered by investment analysts at The Goldman Sachs Group from $92.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 6.56% from the company’s previous close.

Several other research firms also recently commented on SWKS. Bank of America decreased their price objective on Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating for the company in a report on Thursday. Morgan Stanley decreased their price target on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday. Susquehanna dropped their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Benchmark reissued a “hold” rating on shares of Skyworks Solutions in a research report on Thursday. Finally, Barclays dropped their price target on shares of Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.78.

Skyworks Solutions Stock Up 0.1 %

Skyworks Solutions stock opened at $65.69 on Thursday. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $10.56 billion, a PE ratio of 17.75, a PEG ratio of 1.96 and a beta of 1.14. The firm’s fifty day moving average is $88.93 and its 200 day moving average is $95.15. Skyworks Solutions has a 12-month low of $62.01 and a 12-month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released 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, sell-side analysts predict that Skyworks Solutions will post 4.45 EPS for the current fiscal year.

Insider Transactions at Skyworks Solutions

In related news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 approximately $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Institutional Trading of Skyworks Solutions

Hedge funds have recently made changes to their positions in the company. Forsta AP Fonden increased its holdings in Skyworks Solutions by 27.0% in the 3rd quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer’s stock worth $3,674,000 after acquiring an additional 7,900 shares during the last quarter. Versor Investments LP boosted its position in Skyworks Solutions by 115.3% during the third quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock worth $1,966,000 after purchasing an additional 10,658 shares during the period. Van ECK Associates Corp increased its stake in shares of Skyworks Solutions by 25.3% in the third quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock worth $152,915,000 after purchasing an additional 325,672 shares in the last quarter. Barclays PLC raised its position in shares of Skyworks Solutions by 96.4% in the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock valued at $191,023,000 after purchasing an additional 949,407 shares during the period. Finally, Captrust Financial Advisors lifted its stake 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 buying an additional 6,151 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

About Skyworks Solutions

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.