Skyworks Solutions (NASDAQ:SWKS) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Skyworks Solutions (NASDAQ:SWKS) in a report issued on Wednesday. The brokerage set a “sell” rating and a $78.00 price target on the semiconductor manufacturer’s stock. The Goldman Sachs Group‘s price target would indicate a potential downside of 8.67% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. B. Riley Financial raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and increased their target price for the stock from $68.00 to $107.00 in a research report on Tuesday, October 6th. Mizuho set a $58.00 price target on shares of Skyworks Solutions in a research report on Wednesday. Royal Bank Of Canada boosted their price objective on shares of Skyworks Solutions from $70.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 1st. William Blair reissued a “buy” rating on shares of Skyworks Solutions in a research report on Wednesday, July 29th. Finally, BMO Capital Markets began coverage on shares of Skyworks Solutions in a research note on Friday, August 21st. They issued a “market perform” rating and a $70.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Skyworks Solutions has a consensus rating of “Hold” and a consensus target price of $79.17.

Skyworks Solutions Price Performance

SWKS stock opened at $85.40 on Wednesday. The stock has a 50-day moving average price of $81.21 and a two-hundred day moving average price of $67.81. Skyworks Solutions has a 12-month low of $51.93 and a 12-month high of $92.80. The company has a current ratio of 3.10, a quick ratio of 1.94 and a debt-to-equity ratio of 0.09. The company has a market cap of $12.85 billion, a PE ratio of 44.25, a price-to-earnings-growth ratio of 2.32 and a beta of 1.51.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. Skyworks Solutions had a return on equity of 10.74% and a net margin of 7.23%. As a group, research analysts predict that Skyworks Solutions will post 3.61 EPS for the current year.

Institutional Trading of Skyworks Solutions

Several large investors have recently bought and sold shares of SWKS. Bank of America Corp DE lifted its position in shares of Skyworks Solutions by 22.8% during the first quarter. Bank of America Corp DE now owns 2,129,451 shares of the semiconductor manufacturer’s stock worth $114,032,000 after purchasing an additional 396,057 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in Skyworks Solutions by 177.9% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 68,838 shares of the semiconductor manufacturer’s stock valued at $5,559,000 after purchasing an additional 44,068 shares in the last quarter. BlackRock Inc. acquired a new stake in Skyworks Solutions during the 2nd quarter valued at $1,393,584,000. Assenagon Asset Management S.A. increased its stake in Skyworks Solutions by 123.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 241,542 shares of the semiconductor manufacturer’s stock worth $16,377,000 after buying an additional 133,217 shares during the period. Finally, Pzena Investment Management LLC purchased a new stake in Skyworks Solutions during the 2nd quarter worth $1,082,972,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

More Skyworks Solutions News

Here are the key news stories impacting Skyworks Solutions this week:

• Positive Sentiment: Skyworks reported fiscal Q4 adjusted earnings of $1.28 per share and revenue of $1.046 billion, slightly above consensus estimates of $1.27 and about $1.04 billion. Zacks earnings report
• Positive Sentiment: The company says its combination with Qorvo will broaden its RF platform and reach into markets including automotive, defense, infrastructure and physical AI. Skyworks is targeting at least $500 million in annual cost synergies, although delivering those savings will depend on integration execution. Skyworks results and Qorvo combination announcement
• Neutral Sentiment: Morgan Stanley raised its price target to $95 from $72 but kept an “equal weight” rating, signaling a higher valuation view without a bullish rating change. Morgan Stanley price-target update
• Negative Sentiment: Despite the quarterly estimate beat, revenue fell about 5% year over year and adjusted earnings declined from $1.76 per share a year earlier. Investors were also unsettled by weak forward guidance as sluggish smartphone demand weighs on expectations. Reuters report on smartphone demand and forecast

Skyworks Solutions Company Profile

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.