Zacks Research Upgrades Skyworks Solutions (NASDAQ:SWKS) to “Strong-Buy”

Skyworks Solutions (NASDAQ:SWKS) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Other analysts also recently issued research reports about the stock. Mizuho set a $58.00 price target on shares of Skyworks Solutions in a report on Wednesday. Susquehanna decreased their price objective on Skyworks Solutions from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday. KeyCorp lowered Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, July 14th. Citigroup lowered their price objective on Skyworks Solutions from $90.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group assumed coverage on Skyworks Solutions in a research note on Wednesday. They set a “sell” rating and a $78.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $77.28.

Skyworks Solutions Trading Down 2.1%

Shares of SWKS opened at $81.21 on Wednesday. Skyworks Solutions has a 12-month low of $51.93 and a 12-month high of $92.80. The firm has a market capitalization of $12.22 billion, a P/E ratio of 71.24, a P/E/G ratio of 2.10 and a beta of 1.51. The firm has a 50-day moving average price of $81.84 and a 200 day moving average price of $68.05. The company has a current ratio of 3.34, a quick ratio of 1.94 and a debt-to-equity ratio of 0.43.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Skyworks Solutions had a net margin of 4.35% and a return on equity of 9.70%. Sell-side analysts forecast that Skyworks Solutions will post 3.78 EPS for the current year.

Institutional Investors Weigh In On Skyworks Solutions

Institutional investors have recently made changes to their positions in the stock. Maryland State Retirement & Pension System grew its holdings in shares of Skyworks Solutions by 32.2% in the third quarter. Maryland State Retirement & Pension System now owns 9,923 shares of the semiconductor manufacturer’s stock valued at $848,000 after purchasing an additional 2,416 shares in the last quarter. Confluence Wealth Services Inc. purchased a new stake in Skyworks Solutions during the 3rd quarter worth approximately $248,000. Lido Advisors LLC increased its stake in Skyworks Solutions by 2.2% during the 3rd quarter. Lido Advisors LLC now owns 8,150 shares of the semiconductor manufacturer’s stock worth $697,000 after buying an additional 179 shares during the period. Keybank National Association OH lifted its holdings in Skyworks Solutions by 6.9% during the 3rd quarter. Keybank National Association OH now owns 312,091 shares of the semiconductor manufacturer’s stock worth $26,678,000 after buying an additional 20,196 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its holdings in Skyworks Solutions by 11.0% during the 3rd quarter. New York Life Investment Management LLC now owns 43,356 shares of the semiconductor manufacturer’s stock worth $3,706,000 after buying an additional 4,300 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Key Skyworks Solutions News

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

• Positive Sentiment: Zacks upgraded Skyworks to Rank #1 (Strong Buy), citing improving earnings prospects. Zacks upgrade
• Neutral Sentiment: TD Cowen reiterated a Hold rating, adding to the divided analyst view. TD Cowen rating
• Negative Sentiment: Despite beating fiscal fourth-quarter estimates, Skyworks reported year-over-year revenue declines and gave first-quarter sales guidance below expectations. Analysts also flagged Android weakness and uncertainty about how quickly the Qorvo deal will deliver benefits. Q4 results and outlook
• Negative Sentiment: Analyst caution has continued: Goldman Sachs initiated coverage at Sell with a $78 target, Susquehanna cut its target to $75, and RBC reduced its target to $80. Barclays also recently lowered its rating to Equal Weight with a $79 target. These forecasts imply limited upside or downside from the reported $81.21 reference price. Goldman Sachs coverage Susquehanna forecast RBC price target

Skyworks Solutions Company Profile

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.