Barclays Issues Pessimistic Forecast for Skyworks Solutions (NASDAQ:SWKS) Stock Price

Skyworks Solutions (NASDAQ:SWKS) had its price target cut by Barclays from $87.00 to $80.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the semiconductor manufacturer’s stock. Barclays‘s target price points to a potential downside of 3.53% from the company’s previous close.

SWKS has been the subject of a number of other reports. Craig Hallum decreased their price objective on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday. Mizuho cut their price objective on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday. Piper Sandler reduced their price target on Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group upgraded shares of Skyworks Solutions to a “hold” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird increased their price objective on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy 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 $102.82.

Skyworks Solutions Trading Down 4.7 %

Shares of SWKS traded down $4.11 during trading hours on Wednesday, reaching $82.93. 2,223,323 shares of the company traded hands, compared to its average volume of 2,360,850. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 3.95 and a beta of 1.21. Skyworks Solutions has a 12-month low of $82.13 and a 12-month high of $120.86. The stock’s fifty day moving average price is $96.17 and its 200 day moving average price is $100.61. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a return on equity of 13.73% and a net margin of 14.27%. Skyworks Solutions’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.95 earnings per share. Sell-side analysts forecast that Skyworks Solutions will post 5.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Skyworks Solutions news, SVP Carlos S. Bori sold 9,321 shares of the company’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 transaction of $950,462.37. Following the completion of 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $97.63, for a total value of $993,580.51. Following the completion of the transaction, the senior vice president now owns 27,026 shares of the company’s stock, valued at $2,638,548.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,162 shares of company stock valued at $2,306,291. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Skyworks Solutions

Large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in shares of Skyworks Solutions during the second quarter worth about $27,000. Rothschild Investment LLC purchased a new position in Skyworks Solutions during the second quarter worth approximately $27,000. Investors Research Corp raised its position in shares of Skyworks Solutions by 167.7% in the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 213 shares during the period. Blue Trust Inc. boosted its holdings in Skyworks Solutions by 79.7% in the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 149 shares during the last quarter. Finally, Matrix Trust Co acquired a new stake in Skyworks Solutions during the third quarter worth about $39,000. 85.43% of the stock is owned by institutional investors and hedge funds.

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.