Piper Sandler Reiterates “Neutral” Rating for Skyworks Solutions (NASDAQ:SWKS)

Skyworks Solutions (NASDAQ:SWKS)‘s stock had its “neutral” rating reissued by investment analysts at Piper Sandler in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $115.00 price target on the semiconductor manufacturer’s stock, up from their prior price target of $95.00. Piper Sandler’s price target indicates a potential upside of 4.85% from the stock’s current price.

SWKS has been the subject of several other reports. Susquehanna lifted their target price on Skyworks Solutions from $90.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Benchmark cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Rosenblatt Securities lowered their target price on Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their target price on Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. Finally, Mizuho decreased their price objective on Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Skyworks Solutions currently has an average rating of “Hold” and a consensus price target of $112.19.

Skyworks Solutions Stock Performance

Shares of NASDAQ:SWKS traded down $8.01 during trading on Wednesday, hitting $109.68. 1,266,218 shares of the stock were exchanged, compared to its average volume of 2,465,032. Skyworks Solutions has a 1-year low of $85.06 and a 1-year high of $120.86. The company has a market capitalization of $17.60 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 5.59 and a beta of 1.23. The company’s fifty day simple moving average is $104.56 and its 200-day simple moving average is $103.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.19.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, hitting the consensus estimate of $1.21. The business had revenue of $905.50 million during the quarter, compared to the consensus estimate of $900.41 million. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. Skyworks Solutions’s revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the company earned $1.50 EPS. Sell-side analysts expect that Skyworks Solutions will post 5.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Liam Griffin bought 11,142 shares of the stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the acquisition, the chief executive officer now directly owns 104,153 shares in the company, valued at $9,373,770. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Liam Griffin purchased 11,142 shares of Skyworks Solutions stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $90.00 per share, for a total transaction of $1,002,780.00. Following the transaction, the chief executive officer now owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Philip Matthew Carter sold 452 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total value of $54,240.00. Following the completion of the transaction, the vice president now owns 9,112 shares in the company, valued at approximately $1,093,440. The disclosure for this sale can be found here. Insiders sold a total of 26,337 shares of company stock valued at $2,399,797 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Skyworks Solutions

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Skyworks Solutions by 4.0% during the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock valued at $2,101,619,000 after purchasing an additional 745,374 shares during the period. Pzena Investment Management LLC grew its holdings in Skyworks Solutions by 27.5% during the first quarter. Pzena Investment Management LLC now owns 3,429,148 shares of the semiconductor manufacturer’s stock valued at $371,445,000 after purchasing an additional 740,048 shares during the period. FIL Ltd grew its holdings in Skyworks Solutions by 2.4% during the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after purchasing an additional 64,389 shares during the period. Norges Bank bought a new position in Skyworks Solutions during the fourth quarter valued at $226,266,000. Finally, Dimensional Fund Advisors LP grew its holdings in Skyworks Solutions by 11.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,806,327 shares of the semiconductor manufacturer’s stock valued at $203,093,000 after purchasing an additional 185,355 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions Company Profile

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.