Bank of America Issues Pessimistic Forecast for Skyworks Solutions (NASDAQ:SWKS) Stock Price

Skyworks Solutions (NASDAQ:SWKS) had its price target decreased by equities researchers at Bank of America from $88.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the semiconductor manufacturer’s stock. Bank of America‘s target price indicates a potential downside of 31.10% from the stock’s previous close.

SWKS has been the subject of several other research reports. Craig Hallum decreased their price target on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Mizuho downgraded Skyworks Solutions from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $105.00 to $62.00 in a report on Thursday. Barclays cut their price objective on Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Piper Sandler lowered their target price on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Loop Capital started coverage on shares of Skyworks Solutions in a research note on Monday, November 11th. They issued a “hold” rating and a $90.00 price target on the stock. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.47.

Skyworks Solutions Trading Up 0.8 %

NASDAQ SWKS opened at $87.08 on Thursday. Skyworks Solutions has a 12 month low of $82.13 and a 12 month high of $120.86. The stock has a 50-day simple moving average of $89.79 and a 200 day simple moving average of $95.73. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $14.00 billion, a PE ratio of 23.54, a P/E/G ratio of 1.96 and a beta of 1.14.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 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 forecast that Skyworks Solutions will post 4.45 EPS for the current year.

Insider Activity

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at $1,404,639.60. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SWKS. Erste Asset Management GmbH acquired a new position in shares of Skyworks Solutions in the third quarter valued at approximately $27,000. Golden State Wealth Management LLC bought a new stake in Skyworks Solutions in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new position in Skyworks Solutions in the 4th quarter valued at $29,000. Investors Research Corp increased its position in Skyworks Solutions by 167.7% during the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 213 shares during the period. Finally, Matrix Trust Co acquired a new stake in shares of Skyworks Solutions during the third quarter worth $39,000. 85.43% of the stock is owned by institutional investors.

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.