Skyworks Solutions (NASDAQ:SWKS) Stock Price Down 3.5% – Here’s Why

Skyworks Solutions, Inc. (NASDAQ:SWKS)’s stock price fell 3.5% during mid-day trading on Tuesday . The stock traded as low as $64.38 and last traded at $64.49. 378,731 shares were traded during mid-day trading, a decline of 92% from the average session volume of 4,531,845 shares. The stock had previously closed at $66.86.

Analyst Ratings Changes

A number of brokerages have weighed in on SWKS. William Blair reissued a “buy” rating on shares of Skyworks Solutions in a research report on Wednesday, July 29th. Royal Bank Of Canada cut their price objective on Skyworks Solutions from $80.00 to $70.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 29th. Mizuho reduced their target price on Skyworks Solutions from $55.00 to $52.00 and set an “underperform” rating for the company in a research note on Wednesday, July 29th. B. Riley Financial boosted their target price on Skyworks Solutions from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, KeyCorp cut Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.00.

Skyworks Solutions Trading Up 1.4%

The business has a 50-day moving average price of $65.15 and a two-hundred day moving average price of $64.08. The stock has a market capitalization of $10.02 billion, a P/E ratio of 34.52 and a beta of 1.51. The company has a current ratio of 3.10, a quick ratio of 1.94 and a debt-to-equity ratio of 0.09.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. Skyworks Solutions had a return on equity of 10.74% and a net margin of 7.23%.The company had revenue of $934.80 million for the quarter, compared to analysts’ expectations of $925.97 million. During the same quarter last year, the business earned $1.33 earnings per share. Skyworks Solutions’s revenue was down 3.1% on a year-over-year basis. Skyworks Solutions has set its Q4 2026 guidance at 1.270-1.270 EPS. On average, analysts expect that Skyworks Solutions, Inc. will post 3.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Skyworks Solutions

A number of large investors have recently modified their holdings of SWKS. BlackRock Inc. bought a new position in shares of Skyworks Solutions in the second quarter worth about $1,393,584,000. Pzena Investment Management LLC acquired a new position in Skyworks Solutions during the 2nd quarter worth approximately $1,082,972,000. California State Teachers Retirement System lifted its stake in Skyworks Solutions by 6,774.8% in the 2nd quarter. California State Teachers Retirement System now owns 11,823,710 shares of the semiconductor manufacturer’s stock valued at $801,648,000 after purchasing an additional 11,651,723 shares during the last quarter. Bank of America Corp DE bought a new position in Skyworks Solutions in the 2nd quarter valued at approximately $180,898,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Skyworks Solutions during the second quarter worth $143,597,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

About Skyworks Solutions

Skyworks Solutions, Inc is a leading semiconductor company that designs and manufactures analog and mixed-signal semiconductors for use in radio frequency (RF) and mobile communications markets. The company’s portfolio includes power amplifiers, front-end modules, switches, filters, low-noise amplifiers, and other components that enable wireless connectivity in smartphones, tablets, wearables, automotive telematics, and broadband infrastructure. With a focus on energy efficiency and integration, Skyworks serves a broad range of customers in the mobile, Internet of Things (IoT), automotive, connected home, and industrial end markets.

Headquartered in Irvine, California, Skyworks operates a network of design, development, and manufacturing facilities across North America, Europe, and the Asia-Pacific region.