Barclays Increases Skyworks Solutions (NASDAQ:SWKS) Price Target to $115.00

Skyworks Solutions (NASDAQ:SWKS) had its price target hoisted by investment analysts at Barclays from $85.00 to $115.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor manufacturer’s stock. Barclays‘s price target suggests a potential upside of 1.21% from the company’s previous close.

SWKS has been the topic of a number of other reports. Stifel Nicolaus lowered their target price on shares of Skyworks Solutions from $122.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Susquehanna lifted their price target on shares of Skyworks Solutions from $90.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Rosenblatt Securities decreased their price target on shares of Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Skyworks Solutions from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Skyworks Solutions presently has a consensus rating of “Hold” and a consensus price target of $113.94.

Skyworks Solutions Price Performance

SWKS stock opened at $113.62 on Tuesday. The firm has a 50 day moving average of $104.96 and a 200-day moving average of $103.25. The company has a current ratio of 5.19, a quick ratio of 3.81 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 12 month low of $85.06 and a 12 month high of $120.86. The firm has a market capitalization of $18.23 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 5.59 and a beta of 1.23.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. The business had revenue of $905.50 million for the quarter, compared to the consensus estimate of $900.41 million. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. Skyworks Solutions’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the firm posted $1.50 earnings per share. As a group, sell-side analysts predict that Skyworks Solutions will post 5.14 earnings per share for the current fiscal year.

Insider Activity at Skyworks Solutions

In related news, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total value of $2,295,836.91. Following the sale, the director now owns 60,881 shares in the company, valued at $5,495,727.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total transaction of $54,240.00. Following the sale, the vice president now owns 9,112 shares in the company, valued at approximately $1,093,440. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert A. Schriesheim sold 25,433 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the sale, the director now owns 60,881 shares in the company, valued at approximately $5,495,727.87. The disclosure for this sale can be found here. Insiders have sold a total of 26,337 shares of company stock worth $2,399,797 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Skyworks Solutions

A number of hedge funds have recently modified their holdings of SWKS. BNP Paribas bought a new stake in shares of Skyworks Solutions during the 1st quarter valued at $27,000. Innealta Capital LLC bought a new stake in shares of Skyworks Solutions during the 2nd quarter valued at $27,000. Rothschild Investment LLC bought a new stake in shares of Skyworks Solutions during the 2nd quarter valued at $27,000. Access Investment Management LLC bought a new stake in shares of Skyworks Solutions during the 1st quarter valued at $31,000. Finally, Blue Trust Inc. raised its position in shares of Skyworks Solutions by 79.7% in the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 149 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

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.