Skyworks Solutions (NASDAQ:SWKS) Stock Price Up 4.8% – Here’s What Happened

Skyworks Solutions, Inc. (NASDAQ:SWKS)’s share price was up 4.8% on Thursday. The company traded as high as $92.23 and last traded at $91.8860. 970,753 shares were traded during trading, a decline of 81% from the average daily volume of 5,097,449 shares. The stock had previously closed at $87.64.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Skyworks Solutions in a report on Wednesday, November 4th. They issued a “sell” rating and a $78.00 target price on the stock. Morgan Stanley set a $93.00 price target on Skyworks Solutions in a research note on Wednesday, November 4th. Zacks Research upgraded Skyworks Solutions from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 4th. Barclays cut Skyworks Solutions from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $70.00 to $79.00 in a report on Thursday, November 5th. Finally, BMO Capital Markets started coverage on Skyworks Solutions in a research report on Friday, August 21st. They set a “market perform” rating and a $70.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.94.

Skyworks Solutions Stock Up 4.5%

The firm has a market cap of $13.78 billion, a PE ratio of 80.60, a price-to-earnings-growth ratio of 1.40 and a beta of 1.51. The company has a 50-day simple moving average of $83.20 and a 200-day simple moving average of $68.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.34 and a quick ratio of 2.48.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. Skyworks Solutions had a return on equity of 9.70% and a net margin of 4.35%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Analysts expect that Skyworks Solutions, Inc. will post 4.02 earnings per share for the current fiscal year.

Institutional Trading of Skyworks Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caitlin John LLC bought a new stake in shares of Skyworks Solutions during the second quarter worth $27,000. Parkside Financial Bank & Trust grew its holdings in shares of Skyworks Solutions by 108.4% in the second quarter. Parkside Financial Bank & Trust now owns 396 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. J.Safra Asset Management Corp bought a new position in shares of Skyworks Solutions in the second quarter worth about $28,000. Fortitude Family Office LLC increased its stake in 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 period. Finally, Hara Capital LLC purchased a new position in Skyworks Solutions in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

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.