Skyworks Solutions (NASDAQ:SWKS) had its price objective reduced by stock analysts at UBS Group from $93.00 to $77.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. UBS Group’s price target points to a potential upside of 12.47% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. B. Riley upgraded shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and raised their target price for the stock from $80.00 to $90.00 in a report on Monday, January 28th. Cowen raised their target price on shares of Skyworks Solutions from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Wednesday, February 6th. Goldman Sachs Group upgraded shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Wednesday, February 6th. BMO Capital Markets raised their target price on shares of Skyworks Solutions to $94.00 and gave the stock a “positive” rating in a report on Wednesday, February 6th. Finally, ValuEngine upgraded shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $90.28.

Shares of NASDAQ SWKS opened at $68.46 on Wednesday. Skyworks Solutions has a one year low of $60.12 and a one year high of $104.20. The company has a market cap of $11.84 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 1.01 and a beta of 0.70.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.04. Skyworks Solutions had a net margin of 29.06% and a return on equity of 28.25%. The business had revenue of $810.40 million for the quarter, compared to analysts’ expectations of $809.52 million. During the same period last year, the business earned $1.64 earnings per share. The business’s quarterly revenue was down 11.3% on a year-over-year basis. On average, equities research analysts predict that Skyworks Solutions will post 6.11 EPS for the current fiscal year.

Skyworks Solutions announced that its board has authorized a stock repurchase plan on Tuesday, February 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 15.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

In other Skyworks Solutions news, insider Peter L. Gammel sold 2,351 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $82.81, for a total transaction of $194,686.31. Following the completion of the transaction, the insider now owns 11,121 shares of the company’s stock, valued at $920,930.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Peter L. Gammel sold 1,881 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $93.53, for a total value of $175,929.93. Following the transaction, the chief technology officer now directly owns 9,240 shares of the company’s stock, valued at approximately $864,217.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,315 shares of company stock worth $9,981,691. 0.64% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Garrison Point Advisors LLC lifted its position in Skyworks Solutions by 2.2% during the first quarter. Garrison Point Advisors LLC now owns 5,690 shares of the semiconductor manufacturer’s stock valued at $469,000 after buying an additional 120 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Skyworks Solutions by 0.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 48,916 shares of the semiconductor manufacturer’s stock worth $4,035,000 after purchasing an additional 124 shares during the last quarter. BOKF NA raised its position in shares of Skyworks Solutions by 3.7% in the 4th quarter. BOKF NA now owns 3,767 shares of the semiconductor manufacturer’s stock worth $252,000 after purchasing an additional 133 shares during the last quarter. Capital Investment Counsel Inc raised its position in shares of Skyworks Solutions by 0.3% in the 1st quarter. Capital Investment Counsel Inc now owns 42,646 shares of the semiconductor manufacturer’s stock worth $3,517,000 after purchasing an additional 135 shares during the last quarter. Finally, Greenwich Wealth Management LLC raised its position in shares of Skyworks Solutions by 0.6% in the 4th quarter. Greenwich Wealth Management LLC now owns 21,762 shares of the semiconductor manufacturer’s stock worth $1,459,000 after purchasing an additional 136 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, 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 locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

Further Reading: Liquidity

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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