Skyworks Solutions (NASDAQ:SWKS) Given New $70.00 Price Target at The Goldman Sachs Group

Skyworks Solutions (NASDAQ:SWKS) had its price objective lowered by analysts at The Goldman Sachs Group from $92.00 to $70.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor manufacturer’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 5.12% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Barclays decreased their price objective on shares of Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. B. Riley cut shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and reduced their price target for the company from $110.00 to $65.00 in a research report on Thursday. Stifel Nicolaus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and reduced their price target for the company from $105.00 to $62.00 in a research report on Thursday. Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Thursday. Finally, Piper Sandler cut their price objective on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $83.78.

Skyworks Solutions Trading Down 23.5 %

NASDAQ:SWKS traded down $20.49 during trading hours on Thursday, reaching $66.59. The company’s stock had a trading volume of 13,774,078 shares, compared to its average volume of 3,021,923. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.96 and a beta of 1.14. The firm has a 50-day simple moving average of $89.79 and a 200-day simple moving average of $95.73. Skyworks Solutions has a 1 year low of $62.01 and a 1 year high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.24 and a current ratio of 5.54.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data 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%. Research analysts expect that Skyworks Solutions will post 4.45 EPS for the current fiscal year.

Insider Transactions at Skyworks Solutions

In related news, SVP Robert John Terry sold 1,821 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $90.16, for a total transaction of $164,181.36. Following the completion of the transaction, the senior vice president now directly owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

Institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its position in 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 purchasing an additional 949,407 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Skyworks Solutions by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock worth $223,994,000 after acquiring an additional 775,470 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Skyworks Solutions by 5,769.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 726,005 shares of the semiconductor manufacturer’s stock worth $71,708,000 after acquiring an additional 713,636 shares during the last quarter. KBC Group NV lifted its holdings in shares of Skyworks Solutions by 114.0% in the 4th quarter. KBC Group NV now owns 1,248,273 shares of the semiconductor manufacturer’s stock worth $110,697,000 after acquiring an additional 664,874 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Skyworks Solutions by 40.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,715,181 shares of the semiconductor manufacturer’s stock worth $152,102,000 after acquiring an additional 495,774 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

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.