Morgan Stanley Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $87.00

Skyworks Solutions (NASDAQ:SWKS) had its price target cut by equities researchers at Morgan Stanley from $117.00 to $87.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price objective suggests a potential upside of 3.57% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. B. Riley reduced their price objective on shares of Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Piper Sandler dropped their price objective on shares of Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group raised shares of Skyworks Solutions to a “hold” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus increased their price target on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Skyworks Solutions currently has an average rating of “Hold” and an average target price of $101.00.

Skyworks Solutions Price Performance

NASDAQ:SWKS opened at $84.00 on Wednesday. The stock has a market capitalization of $13.42 billion, a PE ratio of 22.70, a P/E/G ratio of 3.95 and a beta of 1.21. Skyworks Solutions has a 1-year low of $82.13 and a 1-year high of $120.86. The firm has a fifty day simple moving average of $95.44 and a 200 day simple moving average of $100.37. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.73%. The company’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.95 EPS. On average, research analysts expect that Skyworks Solutions will post 5.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now 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. Also, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction on Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the transaction, the senior vice president now owns 27,026 shares in the company, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,841 shares of company stock worth $3,034,265 over the last three months. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. lifted its stake in Skyworks Solutions by 8.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 8,652 shares of the semiconductor manufacturer’s stock worth $937,000 after purchasing an additional 658 shares during the last quarter. Sei Investments Co. increased its stake in shares of Skyworks Solutions by 49.1% in the 1st quarter. Sei Investments Co. now owns 179,590 shares of the semiconductor manufacturer’s stock worth $19,451,000 after acquiring an additional 59,145 shares in the last quarter. US Bancorp DE increased its position in Skyworks Solutions by 6.8% during the 1st quarter. US Bancorp DE now owns 46,768 shares of the semiconductor manufacturer’s stock valued at $5,066,000 after buying an additional 2,970 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in Skyworks Solutions by 28.4% in the first quarter. Avantax Advisory Services Inc. now owns 5,336 shares of the semiconductor manufacturer’s stock worth $578,000 after buying an additional 1,179 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in Skyworks Solutions by 7.9% in the 1st quarter. Bleakley Financial Group LLC now owns 1,992 shares of the semiconductor manufacturer’s stock valued at $216,000 after acquiring an additional 146 shares in the last quarter. 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.