Skyworks Solutions (NASDAQ:SWKS) Given New $110.00 Price Target at B. Riley

Skyworks Solutions (NASDAQ:SWKS) had its target price decreased by equities researchers at B. Riley from $120.00 to $110.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. B. Riley’s price target would suggest a potential upside of 31.44% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Susquehanna reduced their target price on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Rosenblatt Securities boosted their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Skyworks Solutions has an average rating of “Hold” and an average price target of $101.00.

Skyworks Solutions Stock Performance

Shares of SWKS stock opened at $83.69 on Thursday. The firm’s 50 day moving average is $95.14 and its 200 day moving average is $100.20. The stock has a market capitalization of $13.37 billion, a P/E ratio of 22.62, a PEG ratio of 1.53 and a beta of 1.21. Skyworks Solutions has a 12 month low of $82.13 and a 12 month high of $120.86. The company has a current ratio of 3.01, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.03. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.95 earnings per share. On average, sell-side analysts anticipate that Skyworks Solutions will post 5.39 earnings per share for the current year.

Insider Buying and Selling at Skyworks Solutions

In other news, SVP Robert John Terry sold 1,821 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $90.16, for a total value of $164,181.36. Following the completion of the sale, the senior vice president now owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. The trade was a 6.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carlos S. Bori sold 9,321 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the transaction, the senior vice president now owns 37,203 shares in the company, valued at approximately $3,793,589.91. The trade was a 20.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,841 shares of company stock worth $3,034,265 over the last three months. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

A number of large investors have recently added to or reduced their stakes in the company. Vulcan Value Partners LLC raised its stake in shares of 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 valued at $481,552,000 after acquiring an additional 1,262,964 shares during the last quarter. Pacer Advisors Inc. raised its position in Skyworks Solutions by 54.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock valued at $370,768,000 after purchasing an additional 1,233,618 shares during the last quarter. Swedbank AB bought a new stake in shares of Skyworks Solutions in the 1st quarter worth approximately $110,086,000. Barclays PLC grew its position in shares of Skyworks Solutions by 96.4% in the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock worth $191,023,000 after buying an additional 949,407 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Skyworks Solutions by 52.0% during the third quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock valued at $223,994,000 after buying an additional 775,470 shares during the period. Institutional investors own 85.43% of the company’s stock.

About Skyworks Solutions

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.