Skyworks Solutions, Inc. (NASDAQ:SWKS) Stock Has Consensus Price Target of $77.28

Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) have received a consensus rating of “Hold” from the twenty-four analysts that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $77.28.

Several analysts recently weighed in on SWKS shares. Weiss Ratings restated a “hold (c-)” rating on shares of Skyworks Solutions in a research note on Wednesday, October 28th. Morgan Stanley set a $93.00 price objective on Skyworks Solutions in a research note on Wednesday, November 4th. Benchmark reissued a “hold” rating on shares of Skyworks Solutions in a report on Monday, July 27th. Barclays cut Skyworks Solutions from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $79.00 in a research note on Thursday, November 5th. Finally, Susquehanna reduced their price target on Skyworks Solutions from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, November 4th.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock opened at $82.83 on Friday. Skyworks Solutions has a 12 month low of $51.93 and a 12 month high of $92.80. The firm has a market capitalization of $12.46 billion, a P/E ratio of 72.66, a P/E/G ratio of 2.10 and a beta of 1.51. The company has a current ratio of 3.34, a quick ratio of 1.94 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $82.48 and a two-hundred day simple moving average of $68.30.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Skyworks Solutions had a net margin of 4.35% and a return on equity of 9.70%. On average, equities analysts forecast that Skyworks Solutions will post 3.78 earnings per share for the current fiscal year.

Institutional Trading of Skyworks Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in Skyworks Solutions by 22.8% in the 1st quarter. Bank of America Corp DE now owns 2,129,451 shares of the semiconductor manufacturer’s stock worth $114,032,000 after purchasing an additional 396,057 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in shares of Skyworks Solutions by 177.9% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 68,838 shares of the semiconductor manufacturer’s stock valued at $5,559,000 after purchasing an additional 44,068 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Skyworks Solutions during the second quarter valued at about $1,393,584,000. Assenagon Asset Management S.A. grew its position in shares of Skyworks Solutions by 123.0% during the second quarter. Assenagon Asset Management S.A. now owns 241,542 shares of the semiconductor manufacturer’s stock valued at $16,377,000 after purchasing an additional 133,217 shares in the last quarter. Finally, Pzena Investment Management LLC bought a new stake in shares of Skyworks Solutions in the second quarter worth about $1,082,972,000. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc designs and manufactures semiconductor products that connect people, devices and networks. Its portfolio includes radio-frequency (RF) components and other analog and mixed-signal solutions used to transmit, receive and process signals.

The company’s products include amplifiers, filters, switches and integrated RF modules, as well as connectivity solutions. They are used in smartphones and other mobile devices, automotive systems, broadband equipment, wireless infrastructure and Internet of Things applications.

Headquartered in Irvine, California, Skyworks serves customers around the world.