Skyworks Solutions (NASDAQ:SWKS) Given New $83.00 Price Target at Citigroup

Skyworks Solutions (NASDAQ:SWKS) had its price objective lowered by investment analysts at Citigroup from $85.00 to $83.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “sell” rating on the semiconductor manufacturer’s stock. Citigroup’s price objective points to a potential downside of 7.45% from the stock’s current price.

Several other equities research analysts have also issued reports on SWKS. Stifel Nicolaus dropped their target price on shares of Skyworks Solutions from $122.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of Skyworks Solutions from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday. Rosenblatt Securities reduced their target price on shares of Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, B. Riley raised their price objective on Skyworks Solutions from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Skyworks Solutions currently has a consensus rating of “Hold” and a consensus target price of $108.86.

Skyworks Solutions Price Performance

Shares of SWKS stock traded down $0.62 on Thursday, reaching $89.68. The company’s stock had a trading volume of 3,999,839 shares, compared to its average volume of 2,395,210. Skyworks Solutions has a 12-month low of $85.06 and a 12-month high of $115.69. The stock’s 50 day simple moving average is $103.94 and its 200-day simple moving average is $101.91. The company has a quick ratio of 3.51, a current ratio of 5.02 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $14.37 billion, a P/E ratio of 16.86, a PEG ratio of 1.98 and a beta of 1.35.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a return on equity of 17.20% and a net margin of 18.85%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm posted $2.33 EPS. The company’s revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts predict that Skyworks Solutions will post 5.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC bought a new stake in shares of Skyworks Solutions in the fourth quarter worth approximately $302,309,000. Norges Bank purchased a new stake in Skyworks Solutions during the 4th quarter valued at $226,266,000. Pacer Advisors Inc. raised its stake in Skyworks Solutions by 40.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,601,879 shares of the semiconductor manufacturer’s stock valued at $180,083,000 after buying an additional 465,223 shares during the last quarter. KBC Group NV lifted its holdings in shares of Skyworks Solutions by 2,156.7% during the 4th quarter. KBC Group NV now owns 440,372 shares of the semiconductor manufacturer’s stock valued at $49,506,000 after buying an additional 420,858 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Skyworks Solutions by 42.0% in the third quarter. AQR Capital Management LLC now owns 1,145,660 shares of the semiconductor manufacturer’s stock worth $112,951,000 after acquiring an additional 338,838 shares during the period. 85.43% of the stock is owned by 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.