Skyworks Solutions (NASDAQ:SWKS) Shares Gap Down – Here’s What Happened

Skyworks Solutions, Inc. (NASDAQ:SWKS) gapped down before the market opened on Wednesday . The stock had previously closed at $98.03, but opened at $90.40. Skyworks Solutions shares last traded at $89.79, with a volume of 585,534 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have commented on SWKS. Craig Hallum boosted their price objective on shares of Skyworks Solutions from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. 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 research note on Wednesday, July 31st. TD Cowen raised their price objective on Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Finally, Barclays cut Skyworks Solutions from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $115.00 to $87.00 in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $109.88.

Skyworks Solutions Price Performance

The stock has a market capitalization of $13.99 billion, a PE ratio of 18.06, a PEG ratio of 4.08 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. The firm’s fifty day moving average price is $99.50 and its two-hundred day moving average price is $101.29.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, hitting the consensus estimate of $1.21. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The company had revenue of $905.50 million during the quarter, compared to analyst estimates of $900.41 million. During the same quarter in the previous year, the company posted $1.50 earnings per share. Skyworks Solutions’s revenue was down 15.5% compared to the same quarter last year. On average, equities analysts predict that Skyworks Solutions, Inc. will post 5.21 earnings per share for the current year.

Insider Buying and Selling at Skyworks Solutions

In other news, SVP Reza Kasnavi sold 1,843 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 17,455 shares in the company, valued at $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 is available at this link. In related news, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the completion of the transaction, the senior vice president now owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Reza Kasnavi sold 1,843 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the sale, the senior vice president now owns 17,455 shares of the company’s stock, valued at $1,875,888.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,341 shares of company stock worth $2,142,110 in the last three months. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of Skyworks Solutions

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Skyworks Solutions by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after purchasing an additional 745,374 shares during the period. Vulcan Value Partners LLC grew its stake in Skyworks Solutions by 38.8% during the second quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock valued at $481,552,000 after acquiring an additional 1,262,964 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Skyworks Solutions by 19.3% in the 2nd quarter. Pzena Investment Management LLC now owns 4,090,292 shares of the semiconductor manufacturer’s stock valued at $435,943,000 after acquiring an additional 661,144 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Skyworks Solutions by 54.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock valued at $370,768,000 after acquiring an additional 1,233,618 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Skyworks Solutions by 10.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,998,480 shares of the semiconductor manufacturer’s stock worth $212,993,000 after purchasing an additional 190,000 shares in 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.