Mizuho Has Lowered Expectations for Skyworks Solutions (NASDAQ:SWKS) Stock Price

Skyworks Solutions (NASDAQ:SWKS) had its price objective reduced by investment analysts at Mizuho from $127.00 to $105.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor manufacturer’s stock. Mizuho’s target price would indicate a potential upside of 25.00% from the company’s previous close.

A number of other brokerages have also recently commented on SWKS. Loop Capital assumed coverage on shares of Skyworks Solutions in a research note on Monday. They set a “hold” rating and a $90.00 price objective on the stock. Piper Sandler dropped their price objective on shares of Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Robert W. Baird raised their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus raised their price objective on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Stock Performance

SWKS opened at $84.00 on Wednesday. Skyworks Solutions has a 12-month low of $82.13 and a 12-month high of $120.86. The company has a current ratio of 3.01, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $13.42 billion, a PE ratio of 22.70, a P/E/G ratio of 3.77 and a beta of 1.21. The firm has a 50 day moving average of $95.44 and a two-hundred day moving average of $100.37.

Skyworks Solutions (NASDAQ:SWKS) last posted 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. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm posted $1.95 EPS. Skyworks Solutions’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, analysts anticipate that Skyworks Solutions will post 5.39 EPS for the current year.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, SVP Robert John Terry sold 1,821 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carlos S. Bori sold 9,321 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the sale, the senior vice president now owns 37,203 shares in the company, valued at $3,793,589.91. This trade represents a 20.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,841 shares of company stock worth $3,034,265. 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 added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new position in Skyworks Solutions in the third quarter valued at approximately $463,000. Erste Asset Management GmbH acquired a new position in Skyworks Solutions in the third quarter valued at approximately $27,000. ARGA Investment Management LP boosted its holdings in shares of Skyworks Solutions by 1.3% in the third quarter. ARGA Investment Management LP now owns 306,299 shares of the semiconductor manufacturer’s stock valued at $30,253,000 after acquiring an additional 3,927 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Skyworks Solutions by 12.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 178,455 shares of the semiconductor manufacturer’s stock worth $17,626,000 after acquiring an additional 20,000 shares during the last quarter. Finally, PDT Partners LLC purchased a new position in shares of Skyworks Solutions during the third quarter worth approximately $1,926,000. 85.43% of the stock is 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.