Skyworks Solutions (NASDAQ:SWKS) Stock Gets Price Target Boost from JPMorgan Chase & Co.

Key Points

• JPMorgan raised its Skyworks Solutions price target from $65 to $77 but maintained a neutral rating; its new target implies 5.41% downside from the share price at the time of the report.
• Analyst views are mixed, though the consensus is Hold, with an average price target of $77.94. Ratings include one Strong Buy, four Buys, 16 Holds, and three Sells.
• Skyworks slightly beat quarterly expectations, reporting earnings of $1.28 per share versus $1.27 expected and revenue of $1.05 billion versus $1.04 billion expected.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) had its price target increased by research analysts at JPMorgan Chase & Co. from $65.00 to $77.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the semiconductor manufacturer's stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 5.41% from the company's current price.

Several other equities research analysts also recently commented on SWKS. Susquehanna dropped their price objective on shares of Skyworks Solutions from $90.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, November 4th. Weiss Ratings restated a "hold (c-)" rating on shares of Skyworks Solutions in a research report on Wednesday, October 28th. The Goldman Sachs Group began coverage on Skyworks Solutions in a research report on Wednesday, November 4th. They issued a "sell" rating and a $78.00 price target for the company. Zacks Research raised Skyworks Solutions from a "hold" rating to a "strong-buy" rating in a report on Wednesday, November 4th. Finally, BMO Capital Markets initiated coverage on Skyworks Solutions in a research report on Friday, August 21st. They set a "market perform" rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $77.94.

Skyworks Solutions Price Performance

Shares of SWKS traded down $1.42 during trading hours on Tuesday, hitting $81.41. 620,728 shares of the company were exchanged, compared to its average volume of 5,116,882. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 71.39, a P/E/G ratio of 2.10 and a beta of 1.51. Skyworks Solutions has a fifty-two week low of $51.93 and a fifty-two week high of $92.80. The company has a quick ratio of 1.94, a current ratio of 3.34 and a debt-to-equity ratio of 0.43. The firm's fifty day moving average is $82.48 and its 200 day moving average is $68.30.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.01. Skyworks Solutions had a return on equity of 9.70% and a net margin of 4.35%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. On average, equities analysts anticipate that Skyworks Solutions will post 3.78 earnings per share for the current fiscal year.

Institutional Trading of Skyworks Solutions

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Skyworks Solutions in the 2nd quarter valued at about $1,393,584,000. Pzena Investment Management LLC purchased a new position in shares of Skyworks Solutions during the second quarter worth approximately $1,082,972,000. Bank of America Corp DE purchased a new position in shares of Skyworks Solutions during the second quarter worth approximately $180,898,000. Bank of New York Mellon Corp bought a new stake in shares of Skyworks Solutions during the second quarter valued at approximately $143,597,000. Finally, First Trust Advisors LP raised its stake in shares of Skyworks Solutions by 51.7% during the first quarter. First Trust Advisors LP now owns 2,218,826 shares of the semiconductor manufacturer's stock valued at $118,818,000 after acquiring an additional 756,280 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc designs and manufactures semiconductor products that connect people, devices and networks. Its portfolio includes radio-frequency (RF) components and other analog and mixed-signal solutions used to transmit, receive and process signals.

The company's products include amplifiers, filters, switches and integrated RF modules, as well as connectivity solutions. They are used in smartphones and other mobile devices, automotive systems, broadband equipment, wireless infrastructure and Internet of Things applications.

Headquartered in Irvine, California, Skyworks serves customers around the world.

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