Skyworks Solutions (NASDAQ:SWKS) Stock Price Target Cut by Susquehanna

Skyworks Solutions (NASDAQ:SWKS) had its price target decreased by research analysts at Susquehanna from $90.00 to $75.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. Susquehanna‘s price target suggests a potential downside of 12.18% from the stock’s previous close.

Other analysts also recently issued reports about the company. TD Cowen reduced their price target on Skyworks Solutions from $75.00 to $65.00 and set a “hold” rating for the company in a research note on Wednesday, July 29th. B. Riley Financial upgraded Skyworks Solutions from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $107.00 in a research report on Tuesday, October 6th. Royal Bank Of Canada lifted their target price on Skyworks Solutions from $70.00 to $95.00 and gave the stock a “sector perform” rating in a report on Thursday, October 1st. Citigroup boosted their target price on shares of Skyworks Solutions from $64.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, October 6th. Finally, William Blair restated a “buy” rating on shares of Skyworks Solutions in a research note on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $78.33.

Skyworks Solutions Trading Up 0.3%

Shares of SWKS stock opened at $85.40 on Wednesday. The firm has a 50 day moving average price of $81.21 and a two-hundred day moving average price of $67.81. The company has a quick ratio of 1.94, a current ratio of 3.10 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $12.85 billion, a PE ratio of 44.25, a price-to-earnings-growth ratio of 2.32 and a beta of 1.51. Skyworks Solutions has a 12-month low of $51.93 and a 12-month high of $92.80.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. Skyworks Solutions had a return on equity of 10.74% and a net margin of 7.23%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. As a group, analysts predict that Skyworks Solutions will post 3.61 earnings per share for the current year.

Institutional Investors Weigh In On Skyworks Solutions

A number of large investors have recently added to or reduced their stakes in SWKS. Parallel Advisors LLC increased its holdings in shares of Skyworks Solutions by 29.9% during the third quarter. Parallel Advisors LLC now owns 5,246 shares of the semiconductor manufacturer’s stock worth $448,000 after buying an additional 1,206 shares in the last quarter. Calamos Advisors LLC boosted its holdings in shares of Skyworks Solutions by 2.1% during the 3rd quarter. Calamos Advisors LLC now owns 97,481 shares of the semiconductor manufacturer’s stock valued at $8,333,000 after acquiring an additional 1,972 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Skyworks Solutions by 8.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 6,241 shares of the semiconductor manufacturer’s stock valued at $534,000 after acquiring an additional 481 shares in the last quarter. Quest 10 Wealth Builders Inc. grew its position in Skyworks Solutions by 61.9% during the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 680 shares of the semiconductor manufacturer’s stock worth $58,000 after acquiring an additional 260 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in Skyworks Solutions by 57.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 16,135 shares of the semiconductor manufacturer’s stock worth $1,346,000 after acquiring an additional 5,895 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions News Roundup

Here are the key news stories impacting Skyworks Solutions this week:

• Positive Sentiment: Skyworks reported fiscal Q4 adjusted earnings of $1.28 per share and revenue of $1.046 billion, slightly above consensus estimates of $1.27 and about $1.04 billion. Zacks earnings report
• Positive Sentiment: The company says its combination with Qorvo will broaden its RF platform and reach into markets including automotive, defense, infrastructure and physical AI. Skyworks is targeting at least $500 million in annual cost synergies, although delivering those savings will depend on integration execution. Skyworks results and Qorvo combination announcement
• Neutral Sentiment: Morgan Stanley raised its price target to $95 from $72 but kept an “equal weight” rating, signaling a higher valuation view without a bullish rating change. Morgan Stanley price-target update
• Negative Sentiment: Despite the quarterly estimate beat, revenue fell about 5% year over year and adjusted earnings declined from $1.76 per share a year earlier. Investors were also unsettled by weak forward guidance as sluggish smartphone demand weighs on expectations. Reuters report on smartphone demand and forecast

About Skyworks Solutions

Skyworks Solutions, Inc (NASDAQ: SWKS) is a semiconductor company that designs and manufactures high-performance analog and mixed-signal products for wireless connectivity applications. Its portfolio includes radio-frequency front-end modules, amplifiers, filters, switches, antenna tuners, and other integrated solutions used to transmit, receive, and manage wireless signals.

The company serves a range of markets, including smartphones and other mobile devices, automotive systems, industrial equipment, home automation, medical devices, aerospace, and defense.