Skyworks Solutions (NASDAQ:SWKS) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Skyworks Solutions (NASDAQ:SWKS) from a hold rating to a strong-buy rating in a report issued on Wednesday morning,Zacks reports.

A number of other analysts also recently issued reports on the stock. Jefferies Financial Group downgraded shares of Skyworks Solutions to a “buy” rating in a report on Wednesday. UBS Group boosted their price objective on shares of Skyworks Solutions from $70.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, October 29th. JPMorgan Chase & Co. lowered their price objective on shares of Skyworks Solutions from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Royal Bank Of Canada dropped their target price on shares of Skyworks Solutions from $95.00 to $80.00 and set a “sector perform” rating on the stock in a report on Wednesday. Finally, Susquehanna cut their target price on shares of Skyworks Solutions from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $77.28.

Skyworks Solutions Trading Down 2.1%

Skyworks Solutions stock opened at $81.21 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.34 and a quick ratio of 1.94. Skyworks Solutions has a one year low of $51.93 and a one year high of $92.80. The stock has a market capitalization of $12.22 billion, a PE ratio of 71.24, a price-to-earnings-growth ratio of 2.10 and a beta of 1.51. The business’s fifty day moving average is $81.84 and its 200 day moving average is $68.05.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. Skyworks Solutions had a return on equity of 9.70% and a net margin of 4.35%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. On average, sell-side analysts predict that Skyworks Solutions will post 3.78 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SWKS. Maryland State Retirement & Pension System boosted its position in shares of Skyworks Solutions by 32.2% in the third quarter. Maryland State Retirement & Pension System now owns 9,923 shares of the semiconductor manufacturer’s stock worth $848,000 after purchasing an additional 2,416 shares during the period. Confluence Wealth Services Inc. purchased a new stake in shares of Skyworks Solutions in the third quarter worth $248,000. Lido Advisors LLC increased its stake in shares of Skyworks Solutions by 2.2% in the third quarter. Lido Advisors LLC now owns 8,150 shares of the semiconductor manufacturer’s stock worth $697,000 after purchasing an additional 179 shares in the last quarter. Keybank National Association OH raised its position in shares of Skyworks Solutions by 6.9% during the 3rd quarter. Keybank National Association OH now owns 312,091 shares of the semiconductor manufacturer’s stock valued at $26,678,000 after purchasing an additional 20,196 shares during the period. Finally, New York Life Investment Management LLC raised its position in shares of Skyworks Solutions by 11.0% during the 3rd quarter. New York Life Investment Management LLC now owns 43,356 shares of the semiconductor manufacturer’s stock valued at $3,706,000 after purchasing an additional 4,300 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Key Skyworks Solutions News

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

• Positive Sentiment: Zacks upgraded Skyworks to Rank #1 (Strong Buy), citing improving earnings prospects. Zacks upgrade
• Neutral Sentiment: TD Cowen reiterated a Hold rating, adding to the divided analyst view. TD Cowen rating
• Negative Sentiment: Despite beating fiscal fourth-quarter estimates, Skyworks reported year-over-year revenue declines and gave first-quarter sales guidance below expectations. Analysts also flagged Android weakness and uncertainty about how quickly the Qorvo deal will deliver benefits. Q4 results and outlook
• Negative Sentiment: Analyst caution has continued: Goldman Sachs initiated coverage at Sell with a $78 target, Susquehanna cut its target to $75, and RBC reduced its target to $80. Barclays also recently lowered its rating to Equal Weight with a $79 target. These forecasts imply limited upside or downside from the reported $81.21 reference price. Goldman Sachs coverage Susquehanna forecast RBC price target

About Skyworks Solutions

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.