Skyworks Solutions (NASDAQ:SWKS) Given New $75.00 Price Target at Mizuho

Skyworks Solutions (NASDAQ:SWKS) had its price target dropped by equities researchers at Mizuho from $89.00 to $75.00 in a note issued to investors on Wednesday, June 5th, The Fly reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. Mizuho’s price target would suggest a potential downside of 2.94% from the stock’s current price.

Several other brokerages have also recently issued reports on SWKS. Canaccord Genuity raised their price objective on Skyworks Solutions from $84.00 to $99.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. ValuEngine raised Skyworks Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. BidaskClub lowered Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Macquarie lowered Skyworks Solutions from an “outperform” rating to a “neutral” rating and set a $92.80 target price on the stock. in a research report on Wednesday, April 17th. Finally, Citigroup raised their price target on Skyworks Solutions from $81.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. Skyworks Solutions has a consensus rating of “Hold” and an average price target of $86.38.

SWKS traded up $0.32 during trading hours on Wednesday, hitting $77.27. 1,251,515 shares of the stock were exchanged, compared to its average volume of 2,081,947. The stock has a 50-day simple moving average of $72.48. Skyworks Solutions has a 12 month low of $60.12 and a 12 month high of $103.95. The firm has a market capitalization of $13.41 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.41 and a beta of 0.91.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.04. Skyworks Solutions had a return on equity of 28.25% and a net margin of 29.06%. The firm had revenue of $810.40 million for the quarter, compared to analysts’ expectations of $809.52 million. During the same period last year, the business posted $1.64 earnings per share. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. As a group, research analysts forecast that Skyworks Solutions will post 5.68 EPS for the current year.

In other Skyworks Solutions news, insider Liam Griffin sold 19,083 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $85.12, for a total transaction of $1,624,344.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David J. Aldrich sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $77.49, for a total value of $387,450.00. Following the sale, the director now owns 208,032 shares of the company’s stock, valued at $16,120,399.68. The disclosure for this sale can be found here. Insiders sold a total of 121,714 shares of company stock valued at $10,493,640 in the last quarter. 0.64% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of SWKS. Teachers Advisors LLC boosted its stake in Skyworks Solutions by 25.9% in the 3rd quarter. Teachers Advisors LLC now owns 449,644 shares of the semiconductor manufacturer’s stock valued at $40,787,000 after buying an additional 92,408 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Skyworks Solutions in the 4th quarter valued at $832,000. Keybank National Association OH boosted its stake in Skyworks Solutions by 3.8% in the 4th quarter. Keybank National Association OH now owns 4,992 shares of the semiconductor manufacturer’s stock valued at $335,000 after buying an additional 182 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Skyworks Solutions by 42.7% in the 4th quarter. Advisors Asset Management Inc. now owns 4,407 shares of the semiconductor manufacturer’s stock valued at $295,000 after buying an additional 1,319 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in Skyworks Solutions by 5.4% in the 4th quarter. TD Asset Management Inc. now owns 193,557 shares of the semiconductor manufacturer’s stock valued at $12,972,000 after buying an additional 9,871 shares in the last quarter. 81.01% of the stock is currently 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, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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The Fly

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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