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

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

A number of other research analysts have also weighed in on the company. Jefferies Financial Group lowered Skyworks Solutions to a “buy” rating in a research report on Wednesday. William Blair reissued a “buy” rating on shares of Skyworks Solutions in a report on Wednesday, July 29th. KeyCorp cut Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 14th. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a report on Monday, July 27th. Finally, UBS Group lifted their price target on Skyworks Solutions from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $77.28.

Skyworks Solutions Price Performance

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

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.01. Skyworks Solutions had a net margin of 4.35% and a return on equity of 9.70%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. Analysts expect that Skyworks Solutions will post 3.78 EPS for the current fiscal year.

Institutional Trading of Skyworks Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Caitlin John LLC bought a new position in shares of Skyworks Solutions during the second quarter valued at $27,000. Parkside Financial Bank & Trust boosted its position in shares of Skyworks Solutions by 108.4% during the second quarter. Parkside Financial Bank & Trust now owns 396 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 206 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Skyworks Solutions during the second quarter valued at $28,000. Fortitude Family Office LLC increased its holdings in Skyworks Solutions by 254.7% in the 3rd quarter. Fortitude Family Office LLC now owns 337 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 242 shares in the last quarter. Finally, Hara Capital LLC bought a new stake in Skyworks Solutions in the 2nd quarter worth about $35,000. Institutional investors own 85.43% of the company’s stock.

More Skyworks Solutions News

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

• Positive Sentiment: Skyworks was upgraded to Zacks Rank #1 (Strong Buy), reflecting improved earnings-prospect assessments and potentially supporting near-term sentiment. Article: All You Need to Know About Skyworks Rating Upgrade to Strong Buy
• Positive Sentiment: Fiscal Q4 earnings and revenue came in above consensus, with reported surprises of 0.79% and 1.49%, respectively. However, both sales and earnings were down year over year, limiting the upside from the beat. Article: Skyworks Solutions Tops Q4 Earnings and Revenue Estimates
• Neutral Sentiment: Management sees potential to improve gross margins to 50%–55% over the next 24–36 months as the Qorvo combination progresses. The longer-term opportunity is balanced by near-term integration and execution risks. Article: Skyworks Targets Higher Gross Margins as Qorvo Deal Reshapes Outlook
• Negative Sentiment: The main concern is first-quarter sales guidance below expectations. Analysts also flagged Android handset weakness and a revenue contraction following the Qorvo deal, delaying anticipated merger benefits. Article: Skyworks Stocks Decline as Qorvo Integration Starts With a Revenue Contraction
• Negative Sentiment: Analyst actions added pressure: Barclays cut its rating to Equal Weight, while Citi, RBC and Susquehanna lowered price targets; Goldman Sachs initiated coverage with a Sell rating. Article: Analysts Lower Forecasts on Skyworks Following Q4 Results

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.