Skyworks Solutions (NASDAQ:SWKS) Stock Gets Price Target Increase from UBS Group

Key Points

• UBS raised Skyworks Solutions’ price target from $70 to $90 while maintaining a “neutral” rating, implying roughly 2% upside from the reported $88.20 share price.
• Analyst sentiment remains cautious: Skyworks has a consensus “Hold” rating and a $77.65 average price target, with 16 Holds, four Buys, and two Sells.
• The company recently exceeded quarterly earnings and revenue estimates, but revenue declined 3.1% year over year; institutional investors own approximately 85.4% of the stock.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) had its target price upped by investment analysts at UBS Group from $70.00 to $90.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the semiconductor manufacturer's stock. UBS Group's price target points to a potential upside of 2.04% from the company's current price.

A number of other equities analysts have also recently issued reports on SWKS. Morgan Stanley cut their price objective on Skyworks Solutions from $76.00 to $72.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. KeyCorp cut Skyworks Solutions from an "overweight" rating to a "sector weight" rating in a report on Tuesday, July 14th. BMO Capital Markets initiated coverage on Skyworks Solutions in a research report on Friday, August 21st. They issued a "market perform" rating and a $70.00 target price for the company. JPMorgan Chase & Co. cut their target price on Skyworks Solutions from $70.00 to $65.00 and set a "neutral" rating for the company in a research note on Wednesday, July 29th. Finally, Mizuho increased their price target on shares of Skyworks Solutions from $52.00 to $61.00 and gave the company an "underperform" rating in a research report on Friday, October 9th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Skyworks Solutions presently has a consensus rating of "Hold" and a consensus target price of $77.65.

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS traded up $0.97 during mid-day trading on Thursday, reaching $88.20. 1,310,139 shares of the company were exchanged, compared to its average volume of 5,101,915. Skyworks Solutions has a 52 week low of $51.93 and a 52 week high of $92.80. The company has a quick ratio of 1.94, a current ratio of 3.10 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $13.27 billion, a PE ratio of 45.85, a PEG ratio of 2.27 and a beta of 1.48. The company's 50 day moving average price is $79.66 and its 200 day moving average price is $67.26.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. Skyworks Solutions had a net margin of 7.23% and a return on equity of 10.74%. The company had revenue of $934.80 million during the quarter, compared to analyst estimates of $925.97 million. During the same period in the previous year, the business earned $1.33 earnings per share. The firm's quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts forecast that Skyworks Solutions will post 3.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Greenleaf Trust bought a new position in Skyworks Solutions in the 3rd quarter worth about $204,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Skyworks Solutions during the 3rd quarter valued at about $4,054,000. Vise Technologies Inc. increased its stake in Skyworks Solutions by 19.3% during the 3rd quarter. Vise Technologies Inc. now owns 5,567 shares of the semiconductor manufacturer's stock valued at $476,000 after purchasing an additional 899 shares in the last quarter. Cidel Asset Management Inc. purchased a new position in Skyworks Solutions in the third quarter worth about $234,000. Finally, Unison Advisors LLC raised its holdings in Skyworks Solutions by 1.2% in the third quarter. Unison Advisors LLC now owns 18,845 shares of the semiconductor manufacturer's stock worth $1,611,000 after buying an additional 218 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

About Skyworks Solutions

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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