Skyworks Solutions (NASDAQ:SWKS) Lowered to Hold at Benchmark

Skyworks Solutions (NASDAQ:SWKS) was downgraded by stock analysts at Benchmark from a “buy” rating to a “hold” rating in a report issued on Wednesday, Briefing.com reports.

SWKS has been the topic of a number of other reports. Piper Sandler restated a “neutral” rating and set a $90.00 price target on shares of Skyworks Solutions in a research note on Thursday, January 4th. B. Riley upped their price target on Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Skyworks Solutions in a research note on Wednesday, January 31st. TD Cowen cut Skyworks Solutions from a “buy” rating to a “hold” rating and decreased their price target for the stock from $125.00 to $90.00 in a research note on Wednesday. Finally, Susquehanna reaffirmed a “neutral” rating and set a $90.00 price objective (down previously from $125.00) on shares of Skyworks Solutions in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Skyworks Solutions has an average rating of “Hold” and an average target price of $111.60.

Skyworks Solutions Trading Down 1.2 %

SWKS opened at $106.59 on Wednesday. Skyworks Solutions has a one year low of $85.06 and a one year high of $115.69. The stock has a market capitalization of $17.08 billion, a PE ratio of 18.90, a P/E/G ratio of 2.01 and a beta of 1.37. The business’s 50 day moving average price is $104.15 and its 200 day moving average price is $101.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.51 and a current ratio of 5.02.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a return on equity of 18.68% and a net margin of 19.48%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, equities research analysts expect that Skyworks Solutions will post 5.63 EPS for the current year.

Hedge Funds Weigh In On Skyworks Solutions

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Skyworks Solutions by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,656,578 shares of the semiconductor manufacturer’s stock worth $2,097,372,000 after purchasing an additional 123,564 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Skyworks Solutions by 3.4% during the third quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock worth $407,474,000 after buying an additional 136,188 shares during the period. Invesco Ltd. boosted its stake in shares of Skyworks Solutions by 11.8% during the third quarter. Invesco Ltd. now owns 3,035,245 shares of the semiconductor manufacturer’s stock worth $299,245,000 after buying an additional 321,243 shares during the period. FIL Ltd boosted its stake in shares of Skyworks Solutions by 2.4% during the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after buying an additional 64,389 shares during the period. Finally, Pzena Investment Management LLC acquired a new stake in shares of Skyworks Solutions during the fourth quarter worth about $302,309,000. 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.