B. Riley Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $110.00

Skyworks Solutions (NASDAQ:SWKS) had its target price cut by equities researchers at B. Riley from $120.00 to $110.00 in a report released on Thursday, MarketBeat reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. B. Riley’s price target indicates a potential upside of 31.44% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on SWKS. Loop Capital initiated coverage on shares of Skyworks Solutions in a research report on Monday, November 11th. They set a “hold” rating and a $90.00 price objective for the company. Mizuho dropped their price target on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Craig Hallum dropped their target price on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Bank of America boosted their price target on Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $101.00.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $83.69 on Thursday. Skyworks Solutions has a 1 year low of $82.13 and a 1 year high of $120.86. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 1.53 and a beta of 1.21. The company has a current ratio of 3.01, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The firm’s 50 day simple moving average is $95.14 and its 200 day simple moving average is $100.20.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping 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 quarter in the previous year, the firm earned $1.95 EPS. As a group, research analysts expect that Skyworks Solutions will post 5.39 earnings per share for the current fiscal year.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, SVP Robert John Terry sold 1,821 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $90.16, for a total value of $164,181.36. Following the transaction, the senior vice president now directly owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carlos S. Bori sold 9,321 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the sale, the senior vice president now directly owns 37,203 shares of the company’s stock, valued at $3,793,589.91. This represents a 20.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,841 shares of company stock worth $3,034,265 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of Skyworks Solutions in the 2nd quarter worth about $27,000. Rothschild Investment LLC purchased a new position in Skyworks Solutions in the second quarter valued at about $27,000. Erste Asset Management GmbH bought a new position in shares of Skyworks Solutions during the 3rd quarter valued at approximately $27,000. Investors Research Corp increased its stake in shares of Skyworks Solutions by 167.7% during the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 213 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Skyworks Solutions by 79.7% in the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

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.