Citigroup Lowers Skyworks Solutions (NASDAQ:SWKS) Price Target to $72.00

Skyworks Solutions (NASDAQ:SWKS) had its price target decreased by research analysts at Citigroup from $83.00 to $72.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “sell” rating on the semiconductor manufacturer’s stock. Citigroup’s target price indicates a potential downside of 14.29% from the stock’s current price.

Several other research analysts also recently commented on the company. Craig Hallum lowered their target price on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday. Bank of America raised their target price on shares of Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. Morgan Stanley lowered their price target on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a report on Wednesday. TD Cowen raised their price objective on Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised Skyworks Solutions to a “hold” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Skyworks Solutions currently has a consensus rating of “Hold” and an average target price of $101.00.

Skyworks Solutions Stock Performance

Shares of SWKS stock opened at $84.00 on Wednesday. The company has a fifty day moving average price of $95.44 and a two-hundred day moving average price of $100.37. Skyworks Solutions has a one year low of $82.13 and a one year high of $120.86. The stock has a market cap of $13.42 billion, a P/E ratio of 22.70, a P/E/G ratio of 3.77 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.01 and a quick ratio of 4.29.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business earned $1.95 EPS. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. As a group, equities analysts predict that Skyworks Solutions will post 5.39 EPS for the current year.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the sale, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the transaction, the senior vice president now directly owns 27,026 shares in the company, valued at $2,638,548.38. This represents a 27.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,841 shares of company stock worth $3,034,265 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Skyworks Solutions

Institutional investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. grew its holdings in Skyworks Solutions by 8.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,652 shares of the semiconductor manufacturer’s stock valued at $937,000 after buying an additional 658 shares in the last quarter. Sei Investments Co. boosted its holdings in Skyworks Solutions by 49.1% in the 1st quarter. Sei Investments Co. now owns 179,590 shares of the semiconductor manufacturer’s stock valued at $19,451,000 after purchasing an additional 59,145 shares during the period. US Bancorp DE grew its position in shares of Skyworks Solutions by 6.8% during the 1st quarter. US Bancorp DE now owns 46,768 shares of the semiconductor manufacturer’s stock valued at $5,066,000 after purchasing an additional 2,970 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Skyworks Solutions by 28.4% in the first quarter. Avantax Advisory Services Inc. now owns 5,336 shares of the semiconductor manufacturer’s stock worth $578,000 after purchasing an additional 1,179 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in Skyworks Solutions by 7.9% during the first quarter. Bleakley Financial Group LLC now owns 1,992 shares of the semiconductor manufacturer’s stock valued at $216,000 after buying an additional 146 shares during the period. 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.