Skyworks Solutions (NASDAQ:SWKS) Cut to “Underweight” at Barclays

Skyworks Solutions (NASDAQ:SWKS) was downgraded by equities researchers at Barclays from an “equal weight” rating to an “underweight” rating in a research report issued on Thursday, MarketBeat.com reports. They presently have a $87.00 price target on the semiconductor manufacturer’s stock, down from their previous price target of $115.00. Barclays‘s price objective points to a potential downside of 10.59% from the stock’s previous close.

Several other research firms also recently issued reports on SWKS. Susquehanna reaffirmed a “neutral” rating and set a $125.00 price target on shares of Skyworks Solutions in a research note on Wednesday, July 31st. B. Riley raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and lifted their price target for the company from $96.00 to $130.00 in a research note on Thursday, June 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Robert W. Baird lifted their price objective on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Rosenblatt Securities boosted their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.53.

Skyworks Solutions Stock Up 0.9 %

Skyworks Solutions stock opened at $97.30 on Thursday. The stock has a market cap of $15.54 billion, a P/E ratio of 20.06, a P/E/G ratio of 4.38 and a beta of 1.20. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a twelve month low of $85.06 and a twelve month high of $120.86. The company’s 50-day moving average price is $101.46 and its two-hundred day moving average price is $102.15.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.21. The firm had revenue of $905.50 million for the quarter, compared to analyst estimates of $900.41 million. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The business’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.50 EPS. As a group, analysts expect that Skyworks Solutions will post 5.21 EPS for the current year.

Insiders Place Their Bets

In other Skyworks Solutions news, SVP Reza Kasnavi sold 1,843 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the transaction, the senior vice president now directly owns 17,455 shares in the company, valued at approximately $1,875,888.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Carlos S. Bori sold 9,321 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the transaction, the senior vice president now directly owns 37,203 shares in the company, valued at $3,793,589.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Reza Kasnavi sold 1,843 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $107.47, for a total transaction of $198,067.21. Following the completion of the transaction, the senior vice president now owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,616 shares of company stock worth $1,202,770. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Skyworks Solutions

A number of institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC boosted its holdings in shares of Skyworks Solutions by 4.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock valued at $239,000 after acquiring an additional 87 shares during the last quarter. HB Wealth Management LLC raised its stake in Skyworks Solutions by 3.0% during the 1st quarter. HB Wealth Management LLC now owns 3,219 shares of the semiconductor manufacturer’s stock worth $349,000 after acquiring an additional 94 shares during the period. AlphaMark Advisors LLC raised its stake in Skyworks Solutions by 14.8% during the 2nd quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock worth $83,000 after acquiring an additional 100 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Skyworks Solutions by 0.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock worth $1,468,000 after acquiring an additional 100 shares during the period. Finally, Zega Financial LLC raised its position in shares of Skyworks Solutions by 5.0% during the second quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock valued at $224,000 after buying an additional 100 shares during the last quarter. Hedge funds and other 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.