Wall Street Zen Upgrades Skyworks Solutions (NASDAQ:SWKS) to Buy

Key Points

• Skyworks Solutions has been upgraded from a "hold" rating to a "buy" rating by analysts at Wall Street Zen, indicating increased confidence in the stock's future performance.
• Despite the upgrade, various other analysts have mixed opinions, with several maintaining "hold" and "sell" ratings, highlighting a consensus rating of "Hold" with an average target price of $72.87.
• In its latest quarterly earnings, Skyworks reported an EPS of $1.33, surpassing estimates, and achieved a revenue of $965 million, reflecting a 6.6% year-over-year increase.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Skyworks Solutions in a report on Thursday, May 8th. Barclays boosted their price objective on shares of Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. Susquehanna upped their price target on shares of Skyworks Solutions from $60.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. decreased their target price on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, UBS Group raised their target price on shares of Skyworks Solutions from $65.00 to $75.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Skyworks Solutions currently has an average rating of "Hold" and a consensus price target of $72.87.

Skyworks Solutions Price Performance

Shares of Skyworks Solutions stock traded up $2.53 during trading hours on Friday, reaching $71.08. The company's stock had a trading volume of 2,595,941 shares, compared to its average volume of 2,594,671. The firm has a 50 day moving average price of $72.71 and a 200-day moving average price of $69.32. Skyworks Solutions has a one year low of $47.93 and a one year high of $110.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.39 and a quick ratio of 1.80. The stock has a market cap of $10.55 billion, a P/E ratio of 28.43, a P/E/G ratio of 1.79 and a beta of 1.13.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.09. The firm had revenue of $965.00 million for the quarter, compared to the consensus estimate of $940.00 million. Skyworks Solutions had a net margin of 9.88% and a return on equity of 11.77%. The business's quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 EPS. On average, analysts predict that Skyworks Solutions will post 3.7 EPS for the current year.

Institutional Trading of Skyworks Solutions

Large investors have recently bought and sold shares of the business. Park Place Capital Corp boosted its stake in Skyworks Solutions by 62.1% during the 2nd quarter. Park Place Capital Corp now owns 368 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 141 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of Skyworks Solutions in the 2nd quarter worth $28,000. Clearstead Trust LLC lifted its stake in shares of Skyworks Solutions by 200.0% in the 2nd quarter. Clearstead Trust LLC now owns 411 shares of the semiconductor manufacturer's stock worth $31,000 after acquiring an additional 274 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Skyworks Solutions by 98.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 437 shares of the semiconductor manufacturer's stock worth $33,000 after acquiring an additional 217 shares during the period. Finally, Mattson Financial Services LLC acquired a new stake in shares of Skyworks Solutions in the 4th quarter worth $37,000. Institutional investors and hedge funds 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.