Skyworks Solutions (NASDAQ:SWKS) Stock Price Up 4.8% - Should You Buy?

Key Points

• Skyworks shares rose 4.8% to about $91.89 in Thursday midday trading, while volume was 81% below its average.
• The company narrowly beat quarterly estimates, reporting EPS of $1.28 versus $1.27 expected and revenue of $1.05 billion versus $1.04 billion expected.
• Analysts’ consensus rating is Hold, with a $77.94 average price target—below the recent share price; ratings include one Strong Buy, four Buys, 16 Holds, and three Sells.

Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Get Free Report) were up 4.8% during mid-day trading on Thursday. The company traded as high as $92.23 and last traded at $91.8860. Approximately 970,753 shares changed hands during trading, a decline of 81% from the average session volume of 5,097,449 shares. The stock had previously closed at $87.64.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Jefferies Financial Group lowered Skyworks Solutions to a "buy" rating in a research note on Wednesday, November 4th. JPMorgan Chase & Co. boosted their price target on Skyworks Solutions from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday. Stifel Nicolaus reduced their price target on Skyworks Solutions from $75.00 to $70.00 and set a "hold" rating for the company in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Skyworks Solutions in a research note on Wednesday, October 28th. Finally, William Blair reaffirmed a "buy" rating on shares of Skyworks Solutions in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Skyworks Solutions currently has a consensus rating of "Hold" and a consensus target price of $77.94.

Skyworks Solutions Stock Up 4.5%

The stock has a market capitalization of $13.78 billion, a P/E ratio of 80.60, a P/E/G ratio of 1.40 and a beta of 1.51. The company's 50-day moving average price is $83.20 and its 200 day moving average price is $68.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.48 and a current ratio of 3.34.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.01. Skyworks Solutions had a net margin of 4.35% and a return on equity of 9.70%. The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.04 billion. As a group, equities analysts expect that Skyworks Solutions, Inc. will post 4.02 earnings per share for the current year.

Hedge Funds Weigh In On Skyworks Solutions

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Skyworks Solutions during the 2nd quarter valued at approximately $1,393,584,000. Pzena Investment Management LLC purchased a new position in shares of Skyworks Solutions in the second quarter worth $1,082,972,000. Dimensional Fund Advisors LP boosted its position in shares of Skyworks Solutions by 19.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,612,201 shares of the semiconductor manufacturer's stock worth $246,978,000 after acquiring an additional 753,004 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Skyworks Solutions during the second quarter worth $180,898,000. Finally, Bank of New York Mellon Corp purchased a new position in Skyworks Solutions during the second quarter valued at $143,597,000. Institutional investors own 85.43% of the company's stock.

About Skyworks Solutions

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.

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