Skyworks Solutions (SWKS) Price Target Cut to $92.00

Skyworks Solutions (NASDAQ:SWKS) had its target price reduced by investment analysts at Loop Capital to $92.00 in a research report issued on Thursday, The Fly reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Loop Capital’s price objective suggests a potential upside of 31.39% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity lowered their target price on shares of Skyworks Solutions from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, November 9th. Needham & Company LLC lowered their target price on shares of Skyworks Solutions to $99.00 and set a “buy” rating on the stock in a report on Friday, November 9th. Craig Hallum lowered their target price on shares of Skyworks Solutions from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 9th. DA Davidson lowered their target price on shares of Skyworks Solutions to $115.00 and set a “buy” rating on the stock in a report on Monday, November 12th. Finally, MKM Partners lowered their target price on shares of Skyworks Solutions to $85.00 and set a “buy” rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. Skyworks Solutions has an average rating of “Hold” and an average price target of $94.62.

SWKS stock opened at $70.02 on Thursday. Skyworks Solutions has a one year low of $60.12 and a one year high of $115.98. The firm has a market capitalization of $12.02 billion, a PE ratio of 10.56, a P/E/G ratio of 0.92 and a beta of 0.66.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Thursday, November 8th. The semiconductor manufacturer reported $1.94 EPS for the quarter, topping the consensus estimate of $1.92 by $0.02. Skyworks Solutions had a net margin of 23.74% and a return on equity of 30.59%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Skyworks Solutions will post 6.67 EPS for the current fiscal year.

In other news, Director David J. Aldrich sold 3,000 shares of the stock in a transaction on Friday, October 19th. The shares were sold at an average price of $87.14, for a total value of $261,420.00. Following the sale, the director now owns 145,252 shares of the company’s stock, valued at $12,657,259.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SWKS. Private Advisor Group LLC bought a new position in shares of Skyworks Solutions in the second quarter worth about $259,000. Laurion Capital Management LP grew its holdings in shares of Skyworks Solutions by 21.4% in the second quarter. Laurion Capital Management LP now owns 13,600 shares of the semiconductor manufacturer’s stock worth $1,314,000 after purchasing an additional 2,400 shares during the last quarter. First Republic Investment Management Inc. grew its holdings in shares of Skyworks Solutions by 10.1% in the second quarter. First Republic Investment Management Inc. now owns 7,621 shares of the semiconductor manufacturer’s stock worth $737,000 after purchasing an additional 700 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Skyworks Solutions in the second quarter worth about $12,208,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Skyworks Solutions by 28,192.1% in the second quarter. Tower Research Capital LLC TRC now owns 10,751 shares of the semiconductor manufacturer’s stock worth $1,039,000 after purchasing an additional 10,713 shares during the last quarter. Hedge funds and other institutional investors own 80.53% of the company’s stock.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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