Skyworks Solutions (NASDAQ:SWKS) Price Target Raised to $77.00

Skyworks Solutions (NASDAQ:SWKS) had its price target upped by JPMorgan Chase & Co. from $65.00 to $77.00 in a research report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the semiconductor manufacturer’s stock.

Several other research analysts have also recently weighed in on SWKS. BMO Capital Markets began coverage on shares of Skyworks Solutions in a research report on Friday, August 21st. They issued a “market perform” rating and a $70.00 price objective on the stock. B. Riley Financial upgraded shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and lifted their target price for the company from $68.00 to $107.00 in a research report on Tuesday, October 6th. Morgan Stanley set a $93.00 price target on shares of Skyworks Solutions in a research note on Wednesday, November 4th. UBS Group increased their price target on shares of Skyworks Solutions from $70.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Finally, Susquehanna decreased their price target on shares of Skyworks Solutions from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of “Hold” and an average target price of $77.94.

Skyworks Solutions Price Performance

Skyworks Solutions stock opened at $90.03 on Tuesday. The stock has a market cap of $13.55 billion, a price-to-earnings ratio of 78.97, a PEG ratio of 1.49 and a beta of 1.51. The company has a quick ratio of 2.48, a current ratio of 5.01 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $83.57 and a 200 day simple moving average of $68.71. Skyworks Solutions has a 52 week low of $51.93 and a 52 week high of $93.24.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.01. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Skyworks Solutions had a return on equity of 9.70% and a net margin of 4.35%. On average, research analysts forecast that Skyworks Solutions will post 4.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skyworks Solutions

Several institutional investors have recently modified their holdings of SWKS. Bank of America Corp DE grew its position in Skyworks Solutions by 22.8% during the first quarter. Bank of America Corp DE now owns 2,129,451 shares of the semiconductor manufacturer’s stock valued at $114,032,000 after acquiring an additional 396,057 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of Skyworks Solutions by 177.9% during the third quarter. NorthCrest Asset Manangement LLC now owns 68,838 shares of the semiconductor manufacturer’s stock worth $5,559,000 after acquiring an additional 44,068 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Skyworks Solutions during the second quarter worth approximately $1,393,584,000. Assenagon Asset Management S.A. lifted its holdings in shares of Skyworks Solutions by 123.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 241,542 shares of the semiconductor manufacturer’s stock worth $16,377,000 after acquiring an additional 133,217 shares during the last quarter. Finally, Pzena Investment Management LLC bought a new stake in shares of Skyworks Solutions in the 2nd quarter worth approximately $1,082,972,000. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc. designs and manufactures semiconductor products that connect people, devices and networks. Its portfolio includes radio-frequency (RF) components and other analog and mixed-signal solutions used to transmit, receive and process signals. The company’s products include amplifiers, filters, switches and integrated RF modules, as well as connectivity solutions. They are used in smartphones and other mobile devices, automotive systems, broadband equipment, wireless infrastructure and Internet of Things applications.