Citigroup Cuts Skyworks Solutions (NASDAQ:SWKS) Price Target to $72.00

Skyworks Solutions (NASDAQ:SWKS) had its price target cut by research analysts at Citigroup from $83.00 to $72.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “sell” rating on the semiconductor manufacturer’s stock. Citigroup’s target price would suggest a potential downside of 13.99% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Piper Sandler dropped their price target on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays lowered their price objective on shares of Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating on the stock in a research note on Wednesday. Robert W. Baird raised their target price on shares of Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Mizuho cut their price objective on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Susquehanna decreased their target price on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Skyworks Solutions has a consensus rating of “Hold” and a consensus price target of $101.59.

Skyworks Solutions Price Performance

SWKS stock traded down $3.33 during trading on Wednesday, hitting $83.71. The company had a trading volume of 2,774,306 shares, compared to its average volume of 2,363,012. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $96.17 and a two-hundred day moving average price of $100.61. Skyworks Solutions has a fifty-two week low of $82.13 and a fifty-two week high of $120.86. The company has a market cap of $13.37 billion, a P/E ratio of 22.62, a P/E/G ratio of 3.95 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.73%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the company posted $1.95 EPS. Equities research analysts expect that Skyworks Solutions will post 5.39 earnings per share for the current fiscal year.

Insider Transactions at Skyworks Solutions

In related news, SVP Robert John Terry sold 1,821 shares of Skyworks Solutions stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the sale, the senior vice president now directly owns 24,567 shares in the company, valued at $2,214,960.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Robert John Terry sold 1,821 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the transaction, the senior vice president now owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the completion of the sale, the senior vice president now directly owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,162 shares of company stock worth $2,306,291. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of SWKS. Sequoia Financial Advisors LLC increased its stake in Skyworks Solutions by 4.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock worth $239,000 after buying an additional 87 shares during the period. AlphaMark Advisors LLC lifted its holdings in shares of Skyworks Solutions by 14.8% in the 2nd quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock valued at $83,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Skyworks Solutions by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock worth $1,468,000 after acquiring an additional 100 shares during the last quarter. Zega Financial LLC grew its holdings in shares of Skyworks Solutions by 5.0% during the second quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock worth $224,000 after buying an additional 100 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co raised its stake in shares of Skyworks Solutions by 0.7% during the second quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock worth $1,569,000 after purchasing an additional 107 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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.