Citigroup Issues Positive Forecast for Skyworks Solutions (NASDAQ:SWKS) Stock Price

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) had its price target increased by equities research analysts at Citigroup from $72.00 to $84.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "sell" rating on the semiconductor manufacturer's stock. Citigroup's target price would suggest a potential downside of 6.87% from the company's previous close.

A number of other research analysts have also recently weighed in on the company. Barclays dropped their price target on Skyworks Solutions from $87.00 to $80.00 and set an "underweight" rating for the company in a research report on Wednesday, November 13th. Craig Hallum lowered their price objective on Skyworks Solutions from $140.00 to $105.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. Susquehanna dropped their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a "neutral" rating for the company in a research report on Wednesday, November 13th. Loop Capital initiated coverage on Skyworks Solutions in a report on Monday, November 11th. They issued a "hold" rating and a $90.00 price objective on the stock. Finally, Benchmark restated a "hold" rating on shares of Skyworks Solutions in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Skyworks Solutions presently has an average rating of "Hold" and a consensus target price of $101.71.

Skyworks Solutions Stock Down 2.6 %

Shares of Skyworks Solutions stock traded down $2.43 during trading on Friday, hitting $90.20. 3,539,053 shares of the stock were exchanged, compared to its average volume of 2,414,507. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. The firm's 50-day moving average price is $88.30 and its 200 day moving average price is $98.33. The stock has a market cap of $14.42 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. Skyworks Solutions has a 12-month low of $82.13 and a 12-month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The business's revenue was down 15.9% compared to the same quarter last year. As a group, analysts forecast that Skyworks Solutions will post 4.45 earnings per share for the current fiscal year.

Insider Activity at Skyworks Solutions

In other news, SVP Carlos S. Bori sold 10,177 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $97.63, for a total value of $993,580.51. Following the transaction, the senior vice president now owns 27,026 shares of the company's stock, valued at approximately $2,638,548.38. This represents a 27.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert John Terry sold 10,522 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the transaction, the senior vice president now directly owns 15,960 shares in the company, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,520 shares of company stock valued at $2,083,803. Corporate insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On Skyworks Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Erste Asset Management GmbH bought a new position in shares of Skyworks Solutions in the third quarter valued at $27,000. Investors Research Corp grew its holdings in Skyworks Solutions by 167.7% during the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 213 shares in the last quarter. Matrix Trust Co purchased a new stake in shares of Skyworks Solutions in the third quarter valued at about $39,000. Valley Wealth Managers Inc. purchased a new position in Skyworks Solutions during the third quarter worth about $40,000. Finally, Quest Partners LLC bought a new position in shares of Skyworks Solutions in the third quarter valued at approximately $41,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Skyworks Solutions Company Profile

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.