Skyworks Solutions (NASDAQ:SWKS) Shares Cross Above 50-Day Moving Average Following Analyst Downgrade

Skyworks Solutions, Inc. (NASDAQ:SWKS)’s share price crossed above its 50 day moving average during trading on Friday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock has a 50 day moving average of $82.14 and traded as high as $83.71. Skyworks Solutions shares last traded at $82.19, with a volume of 4,007,602 shares traded.

Several other equities analysts have also issued reports on the company. BMO Capital Markets assumed coverage on Skyworks Solutions in a research note on Friday, August 21st. They issued a “market perform” rating and a $70.00 price target on the stock. Stifel Nicolaus reduced their price objective on shares of Skyworks Solutions from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, July 29th. The Goldman Sachs Group assumed coverage on Skyworks Solutions in a research note on Wednesday. They issued a “sell” rating and a $78.00 price objective on the stock. Jefferies Financial Group downgraded shares of Skyworks Solutions to a “buy” rating in a report on Wednesday. Finally, UBS Group boosted their price objective on shares of Skyworks Solutions from $70.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.28.

Skyworks Solutions News Summary

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

• Positive Sentiment: Zacks upgraded Skyworks to Rank #1 (Strong Buy), citing improving earnings prospects; the upgrade could support investor optimism. All You Need to Know About Skyworks Rating Upgrade to Strong Buy
• Neutral Sentiment: Goldman Sachs was reported among institutions picking up SWKS shares, though the headline provides no details on the size or timing of the purchase. Skyworks Stock Picked Up by Analysts at The Goldman Sachs Group
• Negative Sentiment: Analyst caution is more widespread: Barclays cut its rating from Overweight to Equal Weight and set a $79 target, while TD Cowen maintained a Hold and RBC lowered its expectations. Susquehanna also issued a pessimistic forecast. Reports linked an analyst downgrade to a gap down in SWKS shares. Barclays rating TD Cowen rating RBC lowers expectations Susquehanna forecast
• Negative Sentiment: Weakness across handset-related stocks—including a sharp Qualcomm selloff after cautious guidance and concerns about handset demand—adds a sector headwind for Skyworks. Qualcomm and handset-sector news

Hedge Funds Weigh In On Skyworks Solutions

Large investors have recently made changes to their positions in the company. Aberdeen Group plc boosted its position in Skyworks Solutions by 146.2% during the third quarter. Aberdeen Group plc now owns 23,862 shares of the semiconductor manufacturer’s stock worth $2,040,000 after acquiring an additional 14,169 shares during the last quarter. Maryland State Retirement & Pension System grew its position in shares of Skyworks Solutions by 32.2% during the third quarter. Maryland State Retirement & Pension System now owns 9,923 shares of the semiconductor manufacturer’s stock worth $848,000 after buying an additional 2,416 shares in the last quarter. Confluence Wealth Services Inc. purchased a new position in Skyworks Solutions in the third quarter valued at $248,000. Lido Advisors LLC grew its position in shares of Skyworks Solutions by 2.2% in the 3rd quarter. Lido Advisors LLC now owns 8,150 shares of the semiconductor manufacturer’s stock valued at $697,000 after buying an additional 179 shares during the last quarter. Finally, Keybank National Association OH lifted its stake in Skyworks Solutions by 6.9% in the third quarter. Keybank National Association OH now owns 312,091 shares of the semiconductor manufacturer’s stock valued at $26,678,000 after buying an additional 20,196 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Skyworks Solutions Stock Up 1.2%

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 capitalization of $12.37 billion, a PE ratio of 72.10, a P/E/G ratio of 2.32 and a beta of 1.51. The firm has a 50 day simple moving average of $82.14 and a two-hundred day simple moving average of $68.17.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Skyworks Solutions had a net margin of 7.23% and a return on equity of 10.74%. Research analysts expect that Skyworks Solutions, Inc. will post 3.78 EPS for the current year.

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.