Mizuho lowered shares of Skyworks Solutions (NASDAQ:SWKS) from a buy rating to a neutral rating in a research note published on Tuesday, MarketBeat reports. The firm currently has $110.00 price target on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also recently commented on SWKS. BidaskClub cut shares of Skyworks Solutions from a sell rating to a strong sell rating in a research report on Tuesday. Cowen set a $100.00 target price on shares of Skyworks Solutions and gave the company a hold rating in a research report on Tuesday. Charter Equity reiterated a buy rating on shares of Skyworks Solutions in a research report on Tuesday. Zacks Investment Research upgraded shares of Skyworks Solutions from a sell rating to a hold rating in a research report on Friday, February 9th. Finally, B. Riley reduced their target price on shares of Skyworks Solutions from $131.00 to $128.00 and set a buy rating for the company in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the company. Skyworks Solutions has a consensus rating of Buy and an average price target of $115.74.

NASDAQ:SWKS opened at $87.08 on Tuesday. The firm has a market cap of $15,995.94, a price-to-earnings ratio of 14.56, a P/E/G ratio of 0.92 and a beta of 0.63. Skyworks Solutions has a fifty-two week low of $86.31 and a fifty-two week high of $117.65.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Monday, February 5th. The semiconductor manufacturer reported $2.00 EPS for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.09. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Skyworks Solutions had a net margin of 21.72% and a return on equity of 30.21%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 earnings per share. equities analysts predict that Skyworks Solutions will post 6.67 EPS for the current fiscal year.

Skyworks Solutions declared that its Board of Directors has authorized a stock buyback program on Monday, February 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In other Skyworks Solutions news, Chairman David J. Aldrich sold 30,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $106.00, for a total transaction of $3,180,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter L. Gammel sold 9,000 shares of the stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $99.19, for a total transaction of $892,710.00. Following the transaction, the insider now directly owns 21,420 shares of the company’s stock, valued at approximately $2,124,649.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,250 shares of company stock valued at $10,523,768. 0.47% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in SWKS. BlackRock Inc. boosted its stake in Skyworks Solutions by 8.9% during the fourth quarter. BlackRock Inc. now owns 13,206,360 shares of the semiconductor manufacturer’s stock worth $1,253,946,000 after buying an additional 1,076,214 shares during the period. Lazard Asset Management LLC boosted its stake in Skyworks Solutions by 21.6% during the fourth quarter. Lazard Asset Management LLC now owns 5,616,559 shares of the semiconductor manufacturer’s stock worth $533,291,000 after buying an additional 998,446 shares during the period. Vulcan Value Partners LLC lifted its position in shares of Skyworks Solutions by 26.1% during the fourth quarter. Vulcan Value Partners LLC now owns 4,230,322 shares of the semiconductor manufacturer’s stock worth $401,669,000 after purchasing an additional 876,101 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Skyworks Solutions during the fourth quarter worth about $40,580,000. Finally, Millennium Management LLC lifted its position in shares of Skyworks Solutions by 273.1% during the fourth quarter. Millennium Management LLC now owns 500,573 shares of the semiconductor manufacturer’s stock worth $47,529,000 after purchasing an additional 366,424 shares in the last quarter. 83.17% of the stock is owned by institutional investors.

About Skyworks Solutions

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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