Susquehanna Issues Pessimistic Forecast for Skyworks Solutions (NASDAQ:SWKS) Stock Price

Skyworks Solutions (NASDAQ:SWKS – Get Free Report) had its target price reduced by stock analysts at Susquehanna from $90.00 to $75.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. Susquehanna‘s price objective would suggest a potential downside of 12.18% from the stock’s current price.

SWKS has been the topic of several other reports. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a report on Monday, July 27th. UBS Group increased their price target on Skyworks Solutions from $70.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Royal Bank Of Canada raised their price objective on Skyworks Solutions from $70.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 1st. Bank of America cut their price objective on Skyworks Solutions from $78.00 to $72.00 and set an “underperform” rating on the stock in a research note on Wednesday. Finally, TD Cowen cut their price objective on Skyworks Solutions from $75.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.33.

View Our Latest Analysis on SWKS

Skyworks Solutions Trading Up 0.3%

Shares of NASDAQ SWKS opened at $85.40 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.94 and a current ratio of 3.10. Skyworks Solutions has a 52-week low of $51.93 and a 52-week high of $92.80. The firm has a 50 day moving average price of $81.21 and a two-hundred day moving average price of $67.81. The stock has a market cap of $12.85 billion, a P/E ratio of 44.25, a price-to-earnings-growth ratio of 2.32 and a beta of 1.51.

Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Skyworks Solutions had a net margin of 7.23% and a return on equity of 10.74%. As a group, equities analysts forecast that Skyworks Solutions will post 3.61 EPS for the current year.

Hedge Funds Weigh In On Skyworks Solutions

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Skyworks Solutions by 22.8% during the first quarter. Bank of America Corp DE now owns 2,129,451 shares of the semiconductor manufacturer’s stock valued at $114,032,000 after acquiring an additional 396,057 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of Skyworks Solutions by 177.9% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 68,838 shares of the semiconductor manufacturer’s stock worth $5,559,000 after acquiring an additional 44,068 shares in the last quarter. BlackRock Inc. bought a new position in shares of Skyworks Solutions in the 2nd quarter worth about $1,393,584,000. Assenagon Asset Management S.A. raised its position in shares of Skyworks Solutions by 123.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 241,542 shares of the semiconductor manufacturer’s stock worth $16,377,000 after acquiring an additional 133,217 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new position in shares of Skyworks Solutions in the 2nd quarter valued at about $1,082,972,000. Institutional investors own 85.43% of the company’s stock.

Key Skyworks Solutions News

Here are the key news stories impacting Skyworks Solutions this week:

  • Positive Sentiment: Skyworks reported fiscal Q4 adjusted earnings of $1.28 per share and revenue of $1.046 billion, slightly above consensus estimates of $1.27 and about $1.04 billion. Zacks earnings report
  • Positive Sentiment: The company says its combination with Qorvo will broaden its RF platform and reach into markets including automotive, defense, infrastructure and physical AI. Skyworks is targeting at least $500 million in annual cost synergies, although delivering those savings will depend on integration execution. Skyworks results and Qorvo combination announcement
  • Neutral Sentiment: Morgan Stanley raised its price target to $95 from $72 but kept an “equal weight” rating, signaling a higher valuation view without a bullish rating change. Morgan Stanley price-target update
  • Negative Sentiment: Despite the quarterly estimate beat, revenue fell about 5% year over year and adjusted earnings declined from $1.76 per share a year earlier. Investors were also unsettled by weak forward guidance as sluggish smartphone demand weighs on expectations. Reuters report on smartphone demand and forecast

About Skyworks Solutions

(Get Free Report)

Skyworks Solutions, Inc (NASDAQ: SWKS) is a semiconductor company that designs and manufactures high-performance analog and mixed-signal products for wireless connectivity applications. Its portfolio includes radio-frequency front-end modules, amplifiers, filters, switches, antenna tuners, and other integrated solutions used to transmit, receive, and manage wireless signals.

The company serves a range of markets, including smartphones and other mobile devices, automotive systems, industrial equipment, home automation, medical devices, aerospace, and defense.

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Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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