JPMorgan Chase & Co. Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $105.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $120.00 to $105.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 13.50% from the stock’s previous close.

SWKS has been the subject of a number of other reports. Mizuho decreased their target price on Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday. Rosenblatt Securities reduced their price objective on Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday. B. Riley upped their price objective on Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Piper Sandler reduced their price objective on Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Benchmark cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $108.86.

Skyworks Solutions Trading Up 3.1 %

Shares of Skyworks Solutions stock traded up $2.79 during trading on Wednesday, reaching $92.51. 3,562,484 shares of the company were exchanged, compared to its average volume of 2,422,731. Skyworks Solutions has a twelve month low of $85.06 and a twelve month high of $115.69. The company has a quick ratio of 3.51, a current ratio of 2.79 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $14.82 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.67 and a beta of 1.35. The business has a 50-day moving average price of $103.64 and a 200-day moving average price of $101.82.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm earned $2.33 earnings per share. The company’s revenue was down 9.6% on a year-over-year basis. Sell-side analysts anticipate that Skyworks Solutions will post 5.65 EPS for the current fiscal year.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, CEO Liam Griffin acquired 11,142 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the purchase, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at $9,373,770. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Skyworks Solutions by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,656,578 shares of the semiconductor manufacturer’s stock worth $2,097,372,000 after purchasing an additional 123,564 shares during the period. Victory Capital Management Inc. increased its stake in shares of Skyworks Solutions by 3.4% during the third quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock worth $407,474,000 after purchasing an additional 136,188 shares during the period. Pzena Investment Management LLC increased its stake in shares of Skyworks Solutions by 27.5% during the first quarter. Pzena Investment Management LLC now owns 3,429,148 shares of the semiconductor manufacturer’s stock worth $371,445,000 after purchasing an additional 740,048 shares during the period. Invesco Ltd. increased its stake in shares of Skyworks Solutions by 11.8% during the third quarter. Invesco Ltd. now owns 3,035,245 shares of the semiconductor manufacturer’s stock worth $299,245,000 after purchasing an additional 321,243 shares during the period. Finally, FIL Ltd increased its stake in shares of Skyworks Solutions by 2.4% during the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after purchasing an additional 64,389 shares during the period. Institutional investors own 85.43% of the company’s stock.

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.