Skyworks Solutions (NASDAQ:SWKS) Given New $70.00 Price Target at Barclays

Skyworks Solutions (NASDAQ:SWKS) had its price target cut by equities research analysts at Barclays from $80.00 to $70.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the semiconductor manufacturer’s stock. Barclays‘s target price indicates a potential downside of 23.45% from the company’s previous close.

SWKS has been the topic of a number of other research reports. B. Riley decreased their price target on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Loop Capital started coverage on Skyworks Solutions in a research report on Monday, November 11th. They issued a “hold” rating and a $90.00 target price on the stock. Mizuho lowered their price target on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Citigroup upped their price target on Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a research note on Friday, January 10th. Finally, Susquehanna reduced their price objective on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of “Hold” and a consensus target price of $101.12.

Skyworks Solutions Stock Performance

Skyworks Solutions stock opened at $91.44 on Friday. The stock has a fifty day moving average price of $88.48 and a 200 day moving average price of $97.81. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 52 week low of $82.13 and a 52 week high of $120.86. The firm has a market capitalization of $14.62 billion, a P/E ratio of 24.71, a PEG ratio of 1.99 and a beta of 1.15.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company posted $1.95 EPS. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. Equities research analysts anticipate that Skyworks Solutions will post 4.45 earnings per share for the current year.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This represents a 39.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Erste Asset Management GmbH acquired a new position in shares of Skyworks Solutions in the 3rd quarter valued at approximately $27,000. Investors Research Corp increased its stake in shares of Skyworks Solutions by 167.7% in the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 213 shares during the last quarter. Matrix Trust Co acquired a new stake in Skyworks Solutions in the third quarter valued at $39,000. Valley Wealth Managers Inc. acquired a new stake in Skyworks Solutions in the third quarter valued at $40,000. Finally, Quest Partners LLC bought a new position in Skyworks Solutions during the 3rd quarter valued at $41,000. 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.