Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $72.00 by Analysts at Morgan Stanley

Skyworks Solutions (NASDAQ:SWKS) had its price target reduced by analysts at Morgan Stanley from $87.00 to $72.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price target suggests a potential upside of 8.20% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Bank of America dropped their price objective on shares of Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating for the company in a research note on Thursday. Benchmark reissued a “hold” rating on shares of Skyworks Solutions in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Loop Capital started coverage on shares of Skyworks Solutions in a research note on Monday, November 11th. They set a “hold” rating and a $90.00 price target for the company. Finally, Piper Sandler dropped their price target on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Skyworks Solutions has a consensus rating of “Hold” and an average target price of $84.59.

Skyworks Solutions Price Performance

NASDAQ SWKS traded down $20.54 on Thursday, reaching $66.54. The company had a trading volume of 6,199,939 shares, compared to its average volume of 2,682,692. 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 stock has a market capitalization of $10.70 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The firm’s 50 day moving average price is $89.79 and its 200 day moving average price is $95.73. Skyworks Solutions has a 12 month low of $62.01 and a 12 month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. As a group, equities analysts predict that Skyworks Solutions will post 4.45 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the transaction, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Skyworks Solutions

A number of large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in shares of Skyworks Solutions by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,831,154 shares of the semiconductor manufacturer’s stock worth $477,173,000 after purchasing an additional 176,070 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Skyworks Solutions by 0.7% during the third quarter. Geode Capital Management LLC now owns 4,143,639 shares of the semiconductor manufacturer’s stock worth $408,410,000 after purchasing an additional 28,009 shares in the last quarter. FMR LLC increased its position in shares of Skyworks Solutions by 7.3% during the third quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer’s stock worth $265,853,000 after purchasing an additional 182,130 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 valued at $223,994,000 after buying an additional 775,470 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Skyworks Solutions by 96.4% during the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock valued at $191,023,000 after buying an additional 949,407 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

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.