Barclays Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $70.00

Skyworks Solutions (NASDAQ:SWKSGet Free Report) had its price target dropped by research analysts at Barclays from $80.00 to $70.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the semiconductor manufacturer’s stock. Barclays‘s price target suggests a potential downside of 25.25% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on SWKS. JPMorgan Chase & Co. reduced their price target on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Craig Hallum lowered their price target on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Citigroup raised their price target on Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a research report on Friday, January 10th. Benchmark reissued a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, November 13th. Finally, Loop Capital started coverage on shares of Skyworks Solutions in a research note on Monday, November 11th. They issued a “hold” rating and a $90.00 price target on the stock. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $101.12.

Get Our Latest Analysis on Skyworks Solutions

Skyworks Solutions Price Performance

Shares of SWKS stock opened at $93.64 on Friday. Skyworks Solutions has a 52-week low of $82.13 and a 52-week high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.24 and a current ratio of 5.54. The stock has a market cap of $14.97 billion, a PE ratio of 25.31, a PEG ratio of 1.99 and a beta of 1.15. The firm’s 50 day moving average price is $88.57 and its two-hundred day moving average price is $97.65.

Skyworks Solutions (NASDAQ:SWKSGet Free Report) last announced its quarterly earnings results 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 analysts’ expectations of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. Skyworks Solutions’s revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 EPS. As a group, analysts forecast that Skyworks Solutions will post 4.45 EPS for the current year.

Insider Transactions at Skyworks Solutions

In related news, SVP Robert John Terry sold 1,821 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $90.16, for a total transaction of $164,181.36. Following the transaction, the senior vice president now directly owns 24,567 shares in the company, valued at approximately $2,214,960.72. The trade was a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vulcan Value Partners LLC lifted its stake in Skyworks Solutions by 38.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock valued at $481,552,000 after purchasing an additional 1,262,964 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Skyworks Solutions by 54.9% in the second quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock valued at $370,768,000 after purchasing an additional 1,233,618 shares during 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. Wellington Management Group LLP lifted its stake in shares of Skyworks Solutions by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock worth $223,994,000 after buying an additional 775,470 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its stake in Skyworks Solutions by 5,769.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 726,005 shares of the semiconductor manufacturer’s stock valued at $71,708,000 after buying an additional 713,636 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

About Skyworks Solutions

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

Receive News & Ratings for Skyworks Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skyworks Solutions and related companies with MarketBeat.com's FREE daily email newsletter.