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

Stock analysts at The Goldman Sachs Group assumed coverage on shares of Skyworks Solutions (NASDAQ:SWKS - Get Free Report) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a "sell" rating and a $70.00 price target on the semiconductor manufacturer's stock. The Goldman Sachs Group's price target would indicate a potential downside of 7.82% from the stock's previous close.

Several other analysts also recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Mizuho boosted their price objective on shares of Skyworks Solutions from $72.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. dropped their price target on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Finally, Barclays raised their price target on Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a research note on Thursday, May 8th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Skyworks Solutions currently has a consensus rating of "Hold" and a consensus price target of $79.06.

Skyworks Solutions Stock Down 2.3%

Shares of SWKS traded down $1.76 during midday trading on Thursday, hitting $75.94. The company had a trading volume of 975,748 shares, compared to its average volume of 3,027,090. The company's 50-day simple moving average is $72.17 and its 200-day simple moving average is $72.48. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.84 and a current ratio of 4.95. The firm has a market capitalization of $11.40 billion, a P/E ratio of 29.78, a P/E/G ratio of 1.94 and a beta of 1.17. Skyworks Solutions has a 1 year low of $47.93 and a 1 year high of $120.86.

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

Institutional Investors Weigh In On Skyworks Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of SWKS. SBI Securities Co. Ltd. purchased a new stake in shares of Skyworks Solutions during the fourth quarter worth about $29,000. Proficio Capital Partners LLC purchased a new stake in shares of Skyworks Solutions during the fourth quarter worth about $2,509,000. Raymond James Financial Inc. purchased a new stake in shares of Skyworks Solutions during the fourth quarter worth about $7,947,000. AlphaQuest LLC grew its holdings in shares of Skyworks Solutions by 246.4% during the fourth quarter. AlphaQuest LLC now owns 1,434 shares of the semiconductor manufacturer's stock worth $127,000 after buying an additional 1,020 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Skyworks Solutions by 74.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,259 shares of the semiconductor manufacturer's stock worth $7,649,000 after buying an additional 36,781 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company's stock.

About Skyworks Solutions

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.