Skyworks Solutions (NASDAQ:SWKS) Rating Lowered to Sector Weight at KeyCorp

Skyworks Solutions (NASDAQ:SWKS) was downgraded by investment analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research note issued to investors on Monday, Marketbeat Ratings reports.

Other research analysts also recently issued research reports about the company. TD Cowen boosted their target price on Skyworks Solutions from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. B. Riley increased their price objective on Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Mizuho raised their price objective on shares of Skyworks Solutions from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, December 18th. Piper Sandler reissued a “neutral” rating and issued a $90.00 target price on shares of Skyworks Solutions in a research report on Thursday, January 4th. Finally, StockNews.com downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $115.10.

Skyworks Solutions Price Performance

Shares of NASDAQ:SWKS opened at $106.90 on Monday. The company’s fifty day moving average is $104.96 and its two-hundred day moving average is $101.57. The company has a quick ratio of 3.51, a current ratio of 5.02 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 12-month low of $85.06 and a 12-month high of $115.69. The company has a market cap of $17.13 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.37.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a net margin of 19.48% and a return on equity of 18.68%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $2.33 EPS. The company’s revenue was down 9.6% on a year-over-year basis. Equities analysts expect that Skyworks Solutions will post 5.64 earnings per share for the current fiscal year.

Institutional Trading of Skyworks Solutions

Several large investors have recently modified their holdings of SWKS. Panagora Asset Management Inc. boosted its holdings in shares of Skyworks Solutions by 54.0% during the 1st quarter. Panagora Asset Management Inc. now owns 10,415 shares of the semiconductor manufacturer’s stock worth $1,388,000 after buying an additional 3,654 shares during the period. LSV Asset Management bought a new stake in shares of Skyworks Solutions during the 1st quarter worth $11,382,000. Raymond James Trust N.A. boosted its holdings in Skyworks Solutions by 7.8% in the 1st quarter. Raymond James Trust N.A. now owns 2,328 shares of the semiconductor manufacturer’s stock valued at $310,000 after purchasing an additional 169 shares during the period. Prudential PLC bought a new stake in Skyworks Solutions in the 1st quarter valued at $429,000. Finally, Moors & Cabot Inc. boosted its holdings in Skyworks Solutions by 9.7% in the 1st quarter. Moors & Cabot Inc. now owns 7,249 shares of the semiconductor manufacturer’s stock valued at $966,000 after purchasing an additional 643 shares during the period. 85.43% of the stock is owned by institutional investors.

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.