Skyworks Solutions (NASDAQ:SWKS) Reaches New 52-Week Low – Here’s Why

Skyworks Solutions, Inc. (NASDAQ:SWKS) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $86.58 and last traded at $87.55, with a volume of 138839 shares trading hands. The stock had previously closed at $87.98.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SWKS. JPMorgan Chase & Co. boosted their price objective on Skyworks Solutions from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Rosenblatt Securities raised their price objective on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Piper Sandler decreased their price target on Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Robert W. Baird raised their target price on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $108.94.

Skyworks Solutions Stock Performance

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 stock’s 50 day moving average price is $96.47 and its two-hundred day moving average price is $100.73. The firm has a market capitalization of $13.79 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 4.05 and a beta of 1.21.

Insider Buying and Selling at Skyworks Solutions

In other news, SVP Carlos S. Bori sold 10,177 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the sale, the senior vice president now owns 27,026 shares of the company’s stock, valued at $2,638,548.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the sale, the senior vice president now owns 37,203 shares of the company’s stock, valued at approximately $3,793,589.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the sale, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,341 shares of company stock valued at $2,142,110. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Skyworks Solutions by 4.0% during the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after purchasing an additional 745,374 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Skyworks Solutions by 3.8% in 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. Vulcan Value Partners LLC increased its holdings 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 buying an additional 1,262,964 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in Skyworks Solutions by 19.3% during the 2nd quarter. Pzena Investment Management LLC now owns 4,090,292 shares of the semiconductor manufacturer’s stock worth $435,943,000 after buying an additional 661,144 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings 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 acquiring an additional 1,233,618 shares during the last quarter. Hedge funds and other institutional investors 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.