Mizuho Downgrades Skyworks Solutions (NASDAQ:SWKS) to Neutral

Skyworks Solutions (NASDAQ:SWKS) was downgraded by Mizuho from an “outperform” rating to a “neutral” rating in a report issued on Thursday,Briefing.com Automated Import reports. They presently have a $62.00 price target on the semiconductor manufacturer’s stock, down from their previous price target of $105.00. Mizuho’s price target points to a potential downside of 28.80% from the company’s current price.

Several other brokerages have also recently weighed in on SWKS. JPMorgan Chase & Co. lowered their target price on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Loop Capital began coverage on Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 target price for the company. Citigroup upped their target price on Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a report on Friday, January 10th. B. Riley cut Skyworks Solutions from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $110.00 to $65.00 in a report on Thursday. Finally, Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Skyworks Solutions currently has a consensus rating of “Hold” and an average price target of $92.24.

Skyworks Solutions Price Performance

SWKS opened at $87.08 on Thursday. The business has a fifty day moving average of $89.79 and a 200 day moving average of $95.73. Skyworks Solutions has a 52-week low of $82.13 and a 52-week high of $120.86. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. The stock has a market cap of $14.00 billion, a P/E ratio of 23.54, a PEG ratio of 1.96 and a beta of 1.14.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. As a group, sell-side analysts anticipate that Skyworks Solutions will post 4.45 EPS for the current year.

Insider Activity at Skyworks Solutions

In other news, SVP Robert John Terry sold 10,522 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the transaction, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Forsta AP Fonden boosted its stake in shares of Skyworks Solutions by 27.0% in the third quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer’s stock worth $3,674,000 after buying an additional 7,900 shares during the last quarter. Versor Investments LP boosted its stake in shares of Skyworks Solutions by 115.3% in the third quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock worth $1,966,000 after buying an additional 10,658 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Skyworks Solutions by 25.3% in the third quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock worth $152,915,000 after buying an additional 325,672 shares during the last quarter. Barclays PLC boosted its stake in shares of Skyworks Solutions by 96.4% in the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock worth $191,023,000 after buying an additional 949,407 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Skyworks Solutions by 20.2% in the third quarter. Captrust Financial Advisors now owns 36,603 shares of the semiconductor manufacturer’s stock worth $3,615,000 after buying an additional 6,151 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

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.