Bank of America Has Lowered Expectations for Skyworks Solutions (NASDAQ:SWKS) Stock Price

Skyworks Solutions (NASDAQ:SWKS) had its price target decreased by investment analysts at Bank of America from $88.00 to $60.00 in a report released on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the semiconductor manufacturer’s stock. Bank of America‘s price target would suggest a potential downside of 8.66% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a research note on Thursday. Mizuho lowered Skyworks Solutions from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $62.00 in a research note on Thursday. Piper Sandler lowered their target price on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday. Stifel Nicolaus lowered shares of Skyworks Solutions from a “buy” rating to a “hold” rating and cut their price target for the stock from $105.00 to $62.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective 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 research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $83.78.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $65.69 on Thursday. The stock has a market cap of $10.56 billion, a PE ratio of 17.75, a P/E/G ratio of 1.96 and a beta of 1.14. Skyworks Solutions has a twelve month low of $62.01 and a twelve month high of $120.86. The stock has a fifty day simple moving average of $88.93 and a 200-day simple moving average of $95.15. 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 announced its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. Equities analysts anticipate that Skyworks Solutions will post 4.45 earnings per share for the current year.

Insider Transactions at Skyworks Solutions

In related 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 transaction, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This trade represents a 39.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

A number of institutional investors have recently modified their holdings of the business. Erste Asset Management GmbH acquired a new stake in shares of Skyworks Solutions during the third quarter worth about $27,000. Golden State Wealth Management LLC purchased a new stake in Skyworks Solutions during the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in Skyworks Solutions during the 4th quarter worth approximately $29,000. Investors Research Corp grew its stake in shares of Skyworks Solutions by 167.7% in the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 213 shares during the last quarter. Finally, Matrix Trust Co acquired a new position in shares of Skyworks Solutions in the third quarter valued at approximately $39,000. 85.43% of the stock is owned by institutional investors and hedge funds.

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.