The Goldman Sachs Group Initiates Coverage on Skyworks Solutions (NASDAQ:SWKS)

Investment analysts at The Goldman Sachs Group began coverage on shares of Skyworks Solutions (NASDAQ:SWKS - Get Free Report) in a report released on Thursday, Marketbeat reports. The brokerage set a "sell" rating and a $70.00 price target on the semiconductor manufacturer's stock. The Goldman Sachs Group's price target suggests a potential downside of 9.91% from the company's previous close.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Barclays upped their target price on Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a report on Thursday, May 8th. Mizuho raised their target price on Skyworks Solutions from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Finally, Stifel Nicolaus raised their price objective on Skyworks Solutions from $62.00 to $72.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $79.06.

Skyworks Solutions Trading Up 0.1%

SWKS traded up $0.07 during midday trading on Thursday, reaching $77.70. 2,169,247 shares of the company's stock traded hands, compared to its average volume of 3,035,098. Skyworks Solutions has a 52 week low of $47.93 and a 52 week high of $120.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.95 and a quick ratio of 3.84. The firm has a fifty day moving average of $71.92 and a two-hundred day moving average of $72.57. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of 30.47, a P/E/G ratio of 1.94 and a beta of 1.17.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The company had revenue of $953.20 million during the quarter, compared to the consensus estimate of $951.50 million. Skyworks Solutions had a return on equity of 11.53% and a net margin of 10.43%. The firm's revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 earnings per share. On average, equities analysts anticipate that Skyworks Solutions will post 3.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SWKS. Horizon Investments LLC increased its stake in shares of Skyworks Solutions by 2.8% in the first quarter. Horizon Investments LLC now owns 5,395 shares of the semiconductor manufacturer's stock worth $349,000 after purchasing an additional 146 shares in the last quarter. Legacy Financial Advisors Inc. boosted its position in shares of Skyworks Solutions by 2.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 6,383 shares of the semiconductor manufacturer's stock worth $566,000 after acquiring an additional 156 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in Skyworks Solutions by 7.5% during the fourth quarter. Motley Fool Asset Management LLC now owns 2,355 shares of the semiconductor manufacturer's stock valued at $209,000 after acquiring an additional 165 shares in the last quarter. PAX Financial Group LLC grew its stake in Skyworks Solutions by 0.8% during the fourth quarter. PAX Financial Group LLC now owns 21,979 shares of the semiconductor manufacturer's stock valued at $1,949,000 after acquiring an additional 168 shares in the last quarter. Finally, Keeley Teton Advisors LLC increased its holdings in Skyworks Solutions by 1.1% in the 1st quarter. Keeley Teton Advisors LLC now owns 16,958 shares of the semiconductor manufacturer's stock valued at $1,096,000 after acquiring an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company's stock.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.