JPMorgan Chase & Co. Increases Skyworks Solutions (NASDAQ:SWKS) Price Target to $74.00

Skyworks Solutions (NASDAQ:SWKS) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $66.00 to $74.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 2.17% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Mizuho upped their price target on shares of Skyworks Solutions from $60.00 to $65.00 and gave the company an “underperform” rating in a research report on Wednesday. Loop Capital upped their price target on shares of Skyworks Solutions from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Skyworks Solutions in a research report on Wednesday, October 8th. BNP Paribas Exane increased their price objective on shares of Skyworks Solutions from $71.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Barclays raised shares of Skyworks Solutions from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $58.00 to $88.00 in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $84.22.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $72.43 on Wednesday. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 28.97 and a beta of 1.21. Skyworks Solutions has a twelve month low of $47.93 and a twelve month high of $95.46. The stock has a fifty day simple moving average of $75.88 and a 200 day simple moving average of $72.84. The company has a quick ratio of 1.80, a current ratio of 2.39 and a debt-to-equity ratio of 0.09.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Wednesday, November 5th. The semiconductor manufacturer reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.23. Skyworks Solutions had a return on equity of 11.77% and a net margin of 9.88%.The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.55 earnings per share. Sell-side analysts expect that Skyworks Solutions will post 3.7 EPS for the current year.

Institutional Investors Weigh In On Skyworks Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in SWKS. Teacher Retirement System of Texas acquired a new stake in shares of Skyworks Solutions in the 1st quarter worth about $1,511,000. Mutual Advisors LLC increased its stake in Skyworks Solutions by 26.2% in the 1st quarter. Mutual Advisors LLC now owns 4,967 shares of the semiconductor manufacturer’s stock valued at $306,000 after buying an additional 1,032 shares during the last quarter. Principal Financial Group Inc. increased its stake in Skyworks Solutions by 9.1% in the 1st quarter. Principal Financial Group Inc. now owns 203,496 shares of the semiconductor manufacturer’s stock valued at $13,152,000 after buying an additional 16,965 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in Skyworks Solutions by 9.0% in the 1st quarter. OneDigital Investment Advisors LLC now owns 4,578 shares of the semiconductor manufacturer’s stock valued at $296,000 after buying an additional 379 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Skyworks Solutions by 91.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 474,852 shares of the semiconductor manufacturer’s stock valued at $30,690,000 after buying an additional 226,938 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.