Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $60.00 by Analysts at Bank of America

Skyworks Solutions (NASDAQ:SWKS) had its target price lowered by analysts at Bank of America from $88.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the semiconductor manufacturer’s stock. Bank of America‘s price target suggests a potential downside of 31.10% from the company’s current price.

SWKS has been the topic of several other research reports. B. Riley downgraded shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $65.00 in a report on Thursday. Mizuho cut Skyworks Solutions from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $105.00 to $62.00 in a research report on Thursday. Morgan Stanley lowered their target price on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 13th. Susquehanna reduced their price objective on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $85.47.

Skyworks Solutions Trading Up 0.8 %

Skyworks Solutions stock opened at $87.08 on Thursday. Skyworks Solutions has a 12 month low of $82.13 and a 12 month high of $120.86. 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 stock has a market cap of $14.00 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.96 and a beta of 1.14. The company’s fifty day simple moving average is $89.79 and its 200-day simple moving average is $95.73.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. As a group, sell-side analysts forecast 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 stock in a transaction that occurred on Monday, November 11th. The stock was 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 $1,404,639.60. This represents a 39.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Skyworks Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of SWKS. Charles Schwab Investment Management Inc. increased its stake in shares of Skyworks Solutions by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,831,154 shares of the semiconductor manufacturer’s stock valued at $477,173,000 after buying an additional 176,070 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Skyworks Solutions by 0.7% in the third quarter. Geode Capital Management LLC now owns 4,143,639 shares of the semiconductor manufacturer’s stock worth $408,410,000 after acquiring an additional 28,009 shares during the last quarter. FMR LLC lifted its position in shares of Skyworks Solutions by 7.3% during the third quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer’s stock worth $265,853,000 after purchasing an additional 182,130 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Skyworks Solutions by 52.0% during the third quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock valued at $223,994,000 after purchasing an additional 775,470 shares during the last quarter. Finally, Barclays PLC raised its position in Skyworks Solutions by 96.4% in the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock worth $191,023,000 after purchasing an additional 949,407 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.