Skyworks Solutions (NASDAQ:SWKS) Price Target Raised to $90.00

by · The Markets Daily

Skyworks Solutions (NASDAQ:SWKS – Free Report) had its price objective hoisted by UBS Group from $70.00 to $90.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the semiconductor manufacturer’s stock.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets started coverage on shares of Skyworks Solutions in a research note on Friday, August 21st. They set a “market perform” rating and a $70.00 target price on the stock. Bank of America reissued an “underperform” rating and issued a $65.00 price target on shares of Skyworks Solutions in a research note on Wednesday, July 29th. B. Riley Financial upgraded shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $107.00 in a report on Tuesday, October 6th. JPMorgan Chase & Co. cut their price objective on Skyworks Solutions from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Monday, July 27th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $77.65.

Check Out Our Latest Stock Report on Skyworks Solutions

Skyworks Solutions Stock Down 2.1%

Shares of NASDAQ SWKS opened at $87.58 on Thursday. The company has a current ratio of 3.10, a quick ratio of 1.94 and a debt-to-equity ratio of 0.09. Skyworks Solutions has a 12 month low of $51.93 and a 12 month high of $92.80. The firm has a market capitalization of $13.18 billion, a PE ratio of 45.38, a price-to-earnings-growth ratio of 2.39 and a beta of 1.48. The firm has a fifty day simple moving average of $80.48 and a two-hundred day simple moving average of $67.55.

Institutional Trading of Skyworks Solutions

A number of hedge funds have recently modified their holdings of SWKS. BlackRock Inc. purchased a new stake in Skyworks Solutions during the 2nd quarter valued at $1,393,584,000. Pzena Investment Management LLC increased its holdings in shares of Skyworks Solutions by 27.6% in the 1st quarter. Pzena Investment Management LLC now owns 16,108,138 shares of the semiconductor manufacturer’s stock worth $862,591,000 after purchasing an additional 3,481,658 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Skyworks Solutions by 19.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,612,201 shares of the semiconductor manufacturer’s stock worth $246,978,000 after purchasing an additional 753,004 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Skyworks Solutions in the second quarter worth $180,898,000. Finally, First Trust Advisors LP raised its stake in shares of Skyworks Solutions by 51.7% in the first quarter. First Trust Advisors LP now owns 2,218,826 shares of the semiconductor manufacturer’s stock worth $118,818,000 after purchasing an additional 756,280 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Company Profile

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Skyworks Solutions, Inc (NASDAQ: SWKS) is a semiconductor company that designs and manufactures high-performance analog and mixed-signal products for wireless connectivity applications. Its portfolio includes radio-frequency front-end modules, amplifiers, filters, switches, antenna tuners, and other integrated solutions used to transmit, receive, and manage wireless signals.

The company serves a range of markets, including smartphones and other mobile devices, automotive systems, industrial equipment, home automation, medical devices, aerospace, and defense.

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