Piper Sandler Has Lowered Expectations for Skyworks Solutions (NASDAQ:SWKS) Stock Price

Skyworks Solutions (NASDAQ:SWKS) had its target price lowered by equities researchers at Piper Sandler from $95.00 to $85.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor manufacturer’s stock. Piper Sandler’s price objective would indicate a potential upside of 2.26% from the stock’s previous close.

Several other brokerages also recently commented on SWKS. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Susquehanna decreased their price objective on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday. Morgan Stanley cut their target price on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Loop Capital started coverage on Skyworks Solutions in a research note on Monday. They set a “hold” rating and a $90.00 target price on the stock. Finally, Mizuho dropped their price objective on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Skyworks Solutions currently has an average rating of “Hold” and an average price target of $102.24.

Skyworks Solutions Stock Down 4.5 %

Shares of SWKS stock traded down $3.92 during mid-day trading on Wednesday, hitting $83.12. The company’s stock had a trading volume of 2,651,082 shares, compared to its average volume of 2,362,794. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 5.75. Skyworks Solutions has a 52-week low of $82.13 and a 52-week high of $120.86. The stock has a market cap of $13.28 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 3.95 and a beta of 1.21. The business has a 50-day moving average price of $96.17 and a 200 day moving average price of $100.61.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.73% and a net margin of 14.27%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company posted $1.95 earnings per share. Skyworks Solutions’s revenue was down 15.9% compared to the same quarter last year. Research analysts predict that Skyworks Solutions will post 5.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Skyworks Solutions news, SVP Robert John Terry sold 1,821 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the sale, 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert John Terry sold 1,821 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 24,567 shares in the company, valued at $2,214,960.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,162 shares of company stock worth $2,306,291 in the last 90 days. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SWKS. Vulcan Value Partners LLC lifted its stake in Skyworks Solutions by 38.8% during the second quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock worth $481,552,000 after purchasing an additional 1,262,964 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Skyworks Solutions by 54.9% during the second quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock worth $370,768,000 after acquiring an additional 1,233,618 shares during the period. Swedbank AB purchased a new stake in shares of Skyworks Solutions during the first quarter worth $110,086,000. Vanguard Group Inc. increased its holdings in Skyworks Solutions by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock valued at $2,101,619,000 after buying an additional 745,374 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its holdings in shares of Skyworks Solutions by 5,769.6% during the third quarter. Mizuho Securities USA LLC now owns 726,005 shares of the semiconductor manufacturer’s stock worth $71,708,000 after purchasing an additional 713,636 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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.