Needham & Company LLC Reiterates “Hold” Rating for Skyworks Solutions (NASDAQ:SWKS)

Skyworks Solutions (NASDAQ:SWKS)‘s stock had its “hold” rating reiterated by research analysts at Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports.

Several other research firms have also recently weighed in on SWKS. B. Riley increased their price objective on Skyworks Solutions from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. reduced their price objective on Skyworks Solutions from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday. Piper Sandler cut their target price on Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday. Mizuho cut their target price on Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus cut their target price on Skyworks Solutions from $122.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $108.86.

Skyworks Solutions Stock Performance

Skyworks Solutions stock traded up $2.79 during trading hours on Wednesday, reaching $92.51. 3,562,484 shares of the company were exchanged, compared to its average volume of 2,422,731. The firm has a market cap of $14.82 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.67 and a beta of 1.35. The company has a current ratio of 2.79, a quick ratio of 3.51 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $103.64 and a 200 day moving average of $101.82. Skyworks Solutions has a 12 month low of $85.06 and a 12 month high of $115.69.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the business earned $2.33 earnings per share. Skyworks Solutions’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Skyworks Solutions will post 5.65 earnings per share for the current year.

Insider Activity at Skyworks Solutions

In other news, CEO Liam Griffin purchased 11,142 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the acquisition, the chief executive officer now directly owns 104,153 shares in the company, valued at $9,373,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Skyworks Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWKS. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Skyworks Solutions by 40.3% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 22,300 shares of the semiconductor manufacturer’s stock worth $2,199,000 after buying an additional 6,400 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Skyworks Solutions by 2.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 16,911 shares of the semiconductor manufacturer’s stock worth $1,667,000 after purchasing an additional 362 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Skyworks Solutions by 639.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 161,155 shares of the semiconductor manufacturer’s stock worth $15,888,000 after purchasing an additional 139,372 shares during the period. Xponance Inc. raised its position in shares of Skyworks Solutions by 4.1% during the third quarter. Xponance Inc. now owns 21,230 shares of the semiconductor manufacturer’s stock worth $2,093,000 after purchasing an additional 845 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in shares of Skyworks Solutions by 22.3% during the third quarter. Stratos Wealth Partners LTD. now owns 3,818 shares of the semiconductor manufacturer’s stock worth $376,000 after purchasing an additional 695 shares during the period. 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.