Skyworks Solutions (NASDAQ:SWKS) Stock Gets Price Target Reduction from Citigroup

Skyworks Solutions (NASDAQ:SWKS) had its price target trimmed by Citigroup from $90.00 to $79.00 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the semiconductor manufacturer’s stock.

SWKS has been the subject of a number of other reports. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a research note on Monday, July 27th. Bank of America dropped their target price on shares of Skyworks Solutions from $78.00 to $72.00 and set an “underperform” rating on the stock in a research note on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Skyworks Solutions in a report on Wednesday, October 28th. Susquehanna reduced their price target on shares of Skyworks Solutions from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus reduced their price target on shares of Skyworks Solutions from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.28.

Skyworks Solutions Stock Up 1.2%

NASDAQ:SWKS traded up $0.98 during trading hours on Wednesday, reaching $82.19. 4,007,602 shares of the company traded hands, compared to its average volume of 5,337,441. The business’s 50-day moving average price is $82.14 and its two-hundred day moving average price is $68.17. The stock has a market capitalization of $12.37 billion, a P/E ratio of 72.10, a P/E/G ratio of 2.32 and a beta of 1.51. Skyworks Solutions has a 1 year low of $51.93 and a 1 year high of $92.80. 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 released its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 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 firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Analysts predict that Skyworks Solutions will post 3.78 earnings per share for the current year.

Hedge Funds Weigh In On Skyworks Solutions

Several hedge funds and other institutional investors have recently modified their holdings of SWKS. Fortitude Family Office LLC boosted its stake in shares of Skyworks Solutions by 254.7% in the 3rd quarter. Fortitude Family Office LLC now owns 337 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 242 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Skyworks Solutions by 108.4% during the second quarter. Parkside Financial Bank & Trust now owns 396 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 206 shares during the last quarter. Caitlin John LLC purchased a new stake in Skyworks Solutions during the second quarter valued at $27,000. J.Safra Asset Management Corp bought a new position in Skyworks Solutions in the second quarter valued at about $28,000. Finally, Hara Capital LLC bought a new position in Skyworks Solutions in the second quarter valued at about $35,000. 85.43% of the stock is owned by institutional investors.

Key Headlines Impacting Skyworks Solutions

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

• Positive Sentiment: Zacks upgraded Skyworks to Rank #1 (Strong Buy), citing improving earnings prospects; the upgrade could support investor optimism. All You Need to Know About Skyworks Rating Upgrade to Strong Buy
• Neutral Sentiment: Goldman Sachs was reported among institutions picking up SWKS shares, though the headline provides no details on the size or timing of the purchase. Skyworks Stock Picked Up by Analysts at The Goldman Sachs Group
• Negative Sentiment: Analyst caution is more widespread: Barclays cut its rating from Overweight to Equal Weight and set a $79 target, while TD Cowen maintained a Hold and RBC lowered its expectations. Susquehanna also issued a pessimistic forecast. Reports linked an analyst downgrade to a gap down in SWKS shares. Barclays rating TD Cowen rating RBC lowers expectations Susquehanna forecast
• Negative Sentiment: Weakness across handset-related stocks—including a sharp Qualcomm selloff after cautious guidance and concerns about handset demand—adds a sector headwind for Skyworks. Qualcomm and handset-sector news

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.