JPMorgan Chase & Co. Increases Skyworks Solutions (NASDAQ:SWKS) Price Target to $74.00

Skyworks Solutions (NASDAQ:SWKS) had its price target lifted by equities research analysts at JPMorgan Chase & Co. from $66.00 to $74.00 in a report released on Wednesday,MarketScreener reports. The firm presently has a “neutral” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 2.17% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, October 29th. Cfra Research raised shares of Skyworks Solutions from a “moderate sell” rating to a “hold” rating in a report on Tuesday, October 28th. KeyCorp set a $105.00 target price on shares of Skyworks Solutions and gave the company an “overweight” rating in a report on Wednesday, October 29th. The Goldman Sachs Group assumed coverage on shares of Skyworks Solutions in a report on Thursday, July 10th. They set a “sell” rating and a $70.00 target price on the stock. Finally, Arete Research raised shares of Skyworks Solutions to a “strong-buy” rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.22.

Skyworks Solutions Trading Up 0.6%

Shares of SWKS stock opened at $72.43 on Wednesday. The company has a quick ratio of 1.80, a current ratio of 2.39 and a debt-to-equity ratio of 0.09. The firm has a market cap of $10.75 billion, a P/E ratio of 28.97 and a beta of 1.21. The company has a 50 day moving average of $75.88 and a 200-day moving average of $72.84. Skyworks Solutions has a 12-month low of $47.93 and a 12-month high of $95.46.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Wednesday, November 5th. The semiconductor manufacturer reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.23. Skyworks Solutions had a net margin of 9.88% and a return on equity of 11.77%. Skyworks Solutions’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 EPS. Sell-side analysts anticipate that Skyworks Solutions will post 3.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Skyworks Solutions by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 20,739,480 shares of the semiconductor manufacturer’s stock valued at $1,340,393,000 after purchasing an additional 397,638 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of Skyworks Solutions by 57.3% during the 2nd quarter. Pzena Investment Management LLC now owns 12,207,643 shares of the semiconductor manufacturer’s stock valued at $909,714,000 after purchasing an additional 4,444,747 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Skyworks Solutions by 8.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,507,074 shares of the semiconductor manufacturer’s stock valued at $355,922,000 after purchasing an additional 408,577 shares in the last quarter. Invesco Ltd. grew its position in shares of Skyworks Solutions by 1.7% during the 2nd quarter. Invesco Ltd. now owns 4,212,897 shares of the semiconductor manufacturer’s stock valued at $313,945,000 after purchasing an additional 71,238 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Skyworks Solutions by 7.8% during the 1st quarter. Northern Trust Corp now owns 2,486,911 shares of the semiconductor manufacturer’s stock valued at $160,729,000 after purchasing an additional 179,663 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

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.