Skyworks Solutions (NASDAQ:SWKS) Stock Price Breaks Above 50 Day Moving Average After Analyst Downgrade

Key Points

• Skyworks shares moved above their 50-day moving average, reaching $83.71 and last trading at $82.19, after Zacks upgraded the stock to Strong Buy.
• Analyst views remain mixed: despite the Zacks upgrade and a B. Riley buy rating, several firms cut ratings or price targets. The consensus rating is Hold, with an average target of $77.28.
• Skyworks narrowly beat quarterly estimates, reporting EPS of $1.28 versus $1.27 expected and revenue of $1.05 billion versus $1.04 billion; weakness in handset-related stocks remains a sector risk.

Skyworks Solutions, Inc. (NASDAQ:SWKS - Get Free Report) shares crossed above its 50 day moving average during trading on Friday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock has a 50 day moving average of $82.14 and traded as high as $83.71. Skyworks Solutions shares last traded at $82.19, with a volume of 4,007,602 shares changing hands.

A number of other research analysts also recently weighed in on SWKS. Royal Bank Of Canada lowered their target price on Skyworks Solutions from $95.00 to $80.00 and set a "sector perform" rating on the stock in a report on Wednesday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Skyworks Solutions in a research note on Wednesday, October 28th. Bank of America reduced their price objective on Skyworks Solutions from $78.00 to $72.00 and set an "underperform" rating on the stock in a research note on Wednesday. KeyCorp lowered Skyworks Solutions from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, July 14th. Finally, B. Riley Financial upgraded 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $77.28.

Key Stories Impacting Skyworks Solutions

Here are the key news stories impacting Skyworks Solutions this week:

• Positive Sentiment: Zacks upgraded Skyworks to Rank #1 (Strong Buy), citing improving earnings prospects; the upgrade could support investor optimism. All You Need to Know About Skyworks Rating Upgrade to Strong Buy
• Neutral Sentiment: Goldman Sachs was reported among institutions picking up SWKS shares, though the headline provides no details on the size or timing of the purchase. Skyworks Stock Picked Up by Analysts at The Goldman Sachs Group
• Negative Sentiment: Analyst caution is more widespread: Barclays cut its rating from Overweight to Equal Weight and set a $79 target, while TD Cowen maintained a Hold and RBC lowered its expectations. Susquehanna also issued a pessimistic forecast. Reports linked an analyst downgrade to a gap down in SWKS shares. Barclays rating TD Cowen rating RBC lowers expectations Susquehanna forecast
• Negative Sentiment: Weakness across handset-related stocks—including a sharp Qualcomm selloff after cautious guidance and concerns about handset demand—adds a sector headwind for Skyworks. Qualcomm and handset-sector news

Institutional Investors Weigh In On Skyworks Solutions

A number of large investors have recently added to or reduced their stakes in SWKS. NewEdge Advisors LLC boosted its holdings in Skyworks Solutions by 1.9% during the 2nd quarter. NewEdge Advisors LLC now owns 7,914 shares of the semiconductor manufacturer's stock valued at $537,000 after acquiring an additional 145 shares during the period. North Dakota State Investment Board lifted its holdings in Skyworks Solutions by 3.3% during the 3rd quarter. North Dakota State Investment Board now owns 4,598 shares of the semiconductor manufacturer's stock worth $393,000 after buying an additional 148 shares in the last quarter. Lido Advisors LLC lifted its holdings in Skyworks Solutions by 2.2% during the 3rd quarter. Lido Advisors LLC now owns 8,150 shares of the semiconductor manufacturer's stock worth $697,000 after buying an additional 179 shares in the last quarter. Empirical Finance LLC boosted its holdings in Skyworks Solutions by 3.2% in the second quarter. Empirical Finance LLC now owns 5,794 shares of the semiconductor manufacturer's stock valued at $393,000 after purchasing an additional 182 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in Skyworks Solutions by 108.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 396 shares of the semiconductor manufacturer's stock worth $27,000 after purchasing an additional 206 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Trading Up 1.2%

The company has a current ratio of 3.10, a quick ratio of 1.94 and a debt-to-equity ratio of 0.09. The company has a market cap of $12.37 billion, a PE ratio of 72.10, a P/E/G ratio of 2.32 and a beta of 1.51. The company has a fifty day simple moving average of $82.14 and a two-hundred day simple moving average of $68.17.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.27 by $0.01. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Skyworks Solutions had a net margin of 7.23% and a return on equity of 10.74%. Analysts anticipate that Skyworks Solutions, Inc. will post 3.78 EPS for the current year.

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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