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Barclays Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $70.00

Skyworks Solutions logo with Computer and Technology background

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) had its price objective cut by Barclays from $80.00 to $70.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the semiconductor manufacturer's stock. Barclays's target price points to a potential downside of 25.25% from the company's previous close.

A number of other brokerages have also recently commented on SWKS. Susquehanna dropped their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Citigroup increased their target price on Skyworks Solutions from $72.00 to $84.00 and gave the stock a "sell" rating in a research report on Friday, January 10th. B. Riley reduced their price target on Skyworks Solutions from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. Loop Capital initiated coverage on Skyworks Solutions in a report on Monday, November 11th. They set a "hold" rating and a $90.00 price objective on the stock. Finally, Piper Sandler reduced their target price on Skyworks Solutions from $95.00 to $85.00 and set a "neutral" rating for the company in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $101.12.

Check Out Our Latest Analysis on SWKS

Skyworks Solutions Stock Performance

SWKS stock traded up $2.20 during mid-day trading on Friday, hitting $93.64. The company had a trading volume of 2,145,591 shares, compared to its average volume of 2,037,831. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.24 and a current ratio of 5.54. The firm has a market cap of $14.97 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. Skyworks Solutions has a 12 month low of $82.13 and a 12 month high of $120.86. The stock's fifty day moving average price is $88.57 and its two-hundred day moving average price is $97.72.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its quarterly 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 net margin of 14.27% and a return on equity of 13.71%. The company 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 posted $1.95 EPS. Skyworks Solutions's revenue was down 15.9% on a year-over-year basis. On average, analysts forecast that Skyworks Solutions will post 4.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Skyworks Solutions

In related news, SVP Robert John Terry sold 1,821 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the transaction, the senior vice president now directly owns 24,567 shares in the company, valued at $2,214,960.72. This trade represents a 6.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.35% of the company's stock.

Institutional Investors Weigh In On Skyworks Solutions

Large investors have recently made changes to their positions in the business. Erste Asset Management GmbH purchased a new position in shares of Skyworks Solutions during the third quarter valued at about $27,000. Investors Research Corp raised its position in shares of Skyworks Solutions by 167.7% in the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 213 shares in the last quarter. Matrix Trust Co purchased a new position in shares of Skyworks Solutions in the 3rd quarter valued at approximately $39,000. Valley Wealth Managers Inc. bought a new stake in shares of Skyworks Solutions during the third quarter valued at approximately $40,000. Finally, Quest Partners LLC bought a new position in Skyworks Solutions in the third quarter worth $41,000. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Company Profile

(Get Free Report)

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.

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