Skyworks Solutions (NASDAQ:SWKS) Given New $90.00 Price Target at UBS Group

Skyworks Solutions (NASDAQ:SWKS) had its target price lifted by analysts at UBS Group from $70.00 to $90.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor manufacturer’s stock. UBS Group‘s price objective indicates a potential upside of 2.04% from the company’s current price.

Several other equities research analysts also recently commented on SWKS. KeyCorp downgraded Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a report on Tuesday, July 14th. William Blair restated a “buy” rating on shares of Skyworks Solutions in a research note on Wednesday, July 29th. Royal Bank Of Canada raised their price target on shares of Skyworks Solutions from $70.00 to $95.00 and gave the company a “sector perform” rating in a report on Thursday, October 1st. Morgan Stanley dropped their price target on shares of Skyworks Solutions from $76.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, Mizuho lifted their price target on shares of Skyworks Solutions from $52.00 to $61.00 and gave the stock an “underperform” rating in a research note on Friday, October 9th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Skyworks Solutions currently has an average rating of “Hold” and an average price target of $77.65.

Skyworks Solutions Stock Up 1.1%

Shares of Skyworks Solutions stock traded up $0.97 on Thursday, reaching $88.20. The company’s stock had a trading volume of 1,310,139 shares, compared to its average volume of 5,101,915. The company has a market capitalization of $13.27 billion, a price-to-earnings ratio of 45.85, a P/E/G ratio of 2.27 and a beta of 1.48. The firm’s fifty day simple moving average is $79.66 and its two-hundred day simple moving average is $67.26. Skyworks Solutions has a 52 week low of $51.93 and a 52 week high of $92.80. The company has a quick ratio of 1.94, a current ratio of 3.10 and a debt-to-equity ratio of 0.09.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. The firm had revenue of $934.80 million during the quarter, compared to analysts’ expectations of $925.97 million. Skyworks Solutions had a return on equity of 10.74% and a net margin of 7.23%. The company’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 earnings per share. Equities analysts anticipate that Skyworks Solutions will post 3.61 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Greenleaf Trust bought a new position in shares of Skyworks Solutions in the 3rd quarter worth approximately $204,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Skyworks Solutions in the third quarter worth approximately $4,054,000. Vise Technologies Inc. grew its position in Skyworks Solutions by 19.3% during the third quarter. Vise Technologies Inc. now owns 5,567 shares of the semiconductor manufacturer’s stock valued at $476,000 after buying an additional 899 shares during the period. Cidel Asset Management Inc. bought a new stake in Skyworks Solutions during the third quarter valued at approximately $234,000. Finally, Unison Advisors LLC grew its position in Skyworks Solutions by 1.2% during the third quarter. Unison Advisors LLC now owns 18,845 shares of the semiconductor manufacturer’s stock valued at $1,611,000 after buying an additional 218 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

About Skyworks Solutions

Skyworks Solutions, Inc (NASDAQ: SWKS) is a semiconductor company that designs and manufactures high-performance analog and mixed-signal products for wireless connectivity applications. Its portfolio includes radio-frequency front-end modules, amplifiers, filters, switches, antenna tuners, and other integrated solutions used to transmit, receive, and manage wireless signals.

The company serves a range of markets, including smartphones and other mobile devices, automotive systems, industrial equipment, home automation, medical devices, aerospace, and defense.