Skyworks Solutions (NASDAQ:SWKS) Price Target Raised to $130.00 at Rosenblatt Securities

Skyworks Solutions (NASDAQ:SWKS) had its price target raised by stock analysts at Rosenblatt Securities from $120.00 to $130.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Rosenblatt Securities’ price target indicates a potential upside of 18.78% from the company’s current price.

SWKS has been the subject of several other reports. Benchmark downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. UBS Group cut their target price on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. B. Riley raised Skyworks Solutions from a “neutral” rating to a “buy” rating and raised their target price for the stock from $96.00 to $130.00 in a research note on Thursday, June 20th. Barclays raised their target price on Skyworks Solutions from $85.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Mizuho cut their target price on Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $112.81.

Skyworks Solutions Stock Performance

Skyworks Solutions stock traded down $8.24 during mid-day trading on Wednesday, hitting $109.45. The company had a trading volume of 2,048,063 shares, compared to its average volume of 2,468,435. 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 company’s fifty day moving average is $104.56 and its 200-day moving average is $103.18. The company has a market capitalization of $17.56 billion, a price-to-earnings ratio of 20.57, a P/E/G 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, hitting the consensus estimate of $1.21. The business had revenue of $905.50 million during the quarter, compared to the consensus estimate of $900.41 million. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. The business’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.50 EPS. Equities research analysts predict that Skyworks Solutions will post 5.14 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Skyworks Solutions

A number of institutional investors have recently made changes to their positions in SWKS. BNP Paribas acquired a new position in shares of Skyworks Solutions in the first quarter worth $27,000. Innealta Capital LLC acquired a new position in shares of Skyworks Solutions in the second quarter worth $27,000. Rothschild Investment LLC acquired a new position in shares of Skyworks Solutions in the second quarter worth $27,000. Access Investment Management LLC acquired a new position in shares of Skyworks Solutions in the first quarter worth $31,000. Finally, Blue Trust Inc. raised its holdings in shares of Skyworks Solutions by 79.7% in the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 149 shares during the last quarter. 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.