Citigroup Raises Skyworks Solutions (NASDAQ:SWKS) Price Target to $84.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective lifted by equities research analysts at Citigroup from $72.00 to $84.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sell” rating on the semiconductor manufacturer’s stock. Citigroup’s target price suggests a potential downside of 7.85% from the stock’s previous close.

Several other research firms have also weighed in on SWKS. Barclays lowered their target price on shares of Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. B. Riley dropped their price objective on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price target on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Finally, Susquehanna reduced their price objective on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $101.71.

Skyworks Solutions Stock Down 1.6 %

Shares of SWKS traded down $1.47 during trading on Friday, reaching $91.16. The company’s stock had a trading volume of 1,578,062 shares, compared to its average volume of 2,081,957. The company has a market cap of $14.58 billion, a price-to-earnings ratio of 24.64, a P/E/G ratio of 2.01 and a beta of 1.15. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $88.30 and a two-hundred day moving average of $98.33. Skyworks Solutions has a twelve month low of $82.13 and a twelve month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly 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 analyst estimates of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The business’s revenue was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.95 earnings per share. On average, sell-side analysts predict that Skyworks Solutions will post 4.45 EPS for the current fiscal year.

Insider Transactions at Skyworks Solutions

In related news, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $97.63, for a total value 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 represents a 27.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now owns 15,960 shares in the company, valued at $1,404,639.60. This represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,520 shares of company stock valued at $2,083,803 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SWKS. Vulcan Value Partners LLC lifted its stake in Skyworks Solutions by 38.8% in the second quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock valued at $481,552,000 after acquiring an additional 1,262,964 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Skyworks Solutions by 54.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock valued at $370,768,000 after purchasing an additional 1,233,618 shares during the last quarter. Barclays PLC boosted its holdings in Skyworks Solutions by 96.4% in the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock worth $191,023,000 after purchasing an additional 949,407 shares in the last quarter. Wellington Management Group LLP increased its position in Skyworks Solutions by 52.0% during the third quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock worth $223,994,000 after buying an additional 775,470 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in Skyworks Solutions by 5,769.6% during the third quarter. Mizuho Securities USA LLC now owns 726,005 shares of the semiconductor manufacturer’s stock valued at $71,708,000 after buying an additional 713,636 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

About Skyworks Solutions

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.