Skyworks Solutions (NASDAQ:SWKS) Coverage Initiated by Analysts at The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group began coverage on shares of Skyworks Solutions (NASDAQ:SWKS) in a research report issued on Wednesday. The brokerage set a “sell” rating and a $78.00 price target on the semiconductor manufacturer’s stock. The Goldman Sachs Group‘s price objective points to a potential downside of 8.67% from the stock’s previous close.

Several other analysts also recently commented on the stock. UBS Group upped their price target on shares of Skyworks Solutions from $70.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Monday, July 27th. William Blair restated a “buy” rating on shares of Skyworks Solutions in a research report on Wednesday, July 29th. B. Riley Financial raised Skyworks Solutions from a “neutral” rating to a “buy” rating and upped their price objective for the company from $68.00 to $107.00 in a research note on Tuesday, October 6th. Finally, BMO Capital Markets assumed coverage on Skyworks Solutions in a research report on Friday, August 21st. They set a “market perform” rating and a $70.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $79.17.

Skyworks Solutions Trading Up 0.3%

NASDAQ:SWKS opened at $85.40 on Wednesday. The stock’s 50 day moving average price is $81.21 and its 200 day moving average price is $67.81. The company has a market capitalization of $12.85 billion, a PE ratio of 44.25, a P/E/G ratio of 2.32 and a beta of 1.51. The company has a quick ratio of 1.94, a current ratio of 3.10 and a debt-to-equity ratio of 0.09. Skyworks Solutions has a 52-week low of $51.93 and a 52-week high of $92.80.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Skyworks Solutions had a return on equity of 10.74% and a net margin of 7.23%. On average, research analysts anticipate that Skyworks Solutions will post 3.61 EPS for the current year.

Hedge Funds Weigh In On Skyworks Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Skyworks Solutions during the 2nd quarter valued at about $1,393,584,000. Pzena Investment Management LLC acquired a new stake in shares of Skyworks Solutions in the second quarter worth approximately $1,082,972,000. Dimensional Fund Advisors LP boosted its position in shares of Skyworks Solutions by 19.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,612,201 shares of the semiconductor manufacturer’s stock worth $246,978,000 after acquiring an additional 753,004 shares during the last quarter. Bank of America Corp DE purchased a new stake in Skyworks Solutions in the second quarter valued at approximately $180,898,000. Finally, First Trust Advisors LP grew its holdings in Skyworks Solutions by 51.7% in the first quarter. First Trust Advisors LP now owns 2,218,826 shares of the semiconductor manufacturer’s stock valued at $118,818,000 after purchasing an additional 756,280 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Key Skyworks Solutions News

Here are the key news stories impacting Skyworks Solutions this week:

• Positive Sentiment: Skyworks reported fiscal Q4 adjusted earnings of $1.28 per share and revenue of $1.046 billion, slightly above consensus estimates of $1.27 and about $1.04 billion. Zacks earnings report
• Positive Sentiment: The company says its combination with Qorvo will broaden its RF platform and reach into markets including automotive, defense, infrastructure and physical AI. Skyworks is targeting at least $500 million in annual cost synergies, although delivering those savings will depend on integration execution. Skyworks results and Qorvo combination announcement
• Neutral Sentiment: Morgan Stanley raised its price target to $95 from $72 but kept an “equal weight” rating, signaling a higher valuation view without a bullish rating change. Morgan Stanley price-target update
• Negative Sentiment: Despite the quarterly estimate beat, revenue fell about 5% year over year and adjusted earnings declined from $1.76 per share a year earlier. Investors were also unsettled by weak forward guidance as sluggish smartphone demand weighs on expectations. Reuters report on smartphone demand and forecast

Skyworks Solutions Company Profile

Skyworks Solutions, Inc (NASDAQ: SWKS) is a semiconductor company that designs and manufactures high-performance analog and mixed-signal products for wireless connectivity applications. Its portfolio includes radio-frequency front-end modules, amplifiers, filters, switches, antenna tuners, and other integrated solutions used to transmit, receive, and manage wireless signals.

The company serves a range of markets, including smartphones and other mobile devices, automotive systems, industrial equipment, home automation, medical devices, aerospace, and defense.