Skyworks Solutions, Inc.: A Consensus Moderate Buy with a Promising Future
As of May 12, 2023, Skyworks Solutions, Inc. (NASDAQ:SWKS) has garnered a consensus “Moderate Buy” rating from the thirty-one prestigious analysts that have covered the company to date, according to Bloomberg reports. Eight research analysts had given a hold recommendation and another eight had rated the stock as a buy.
Brokerages that have issued a report on the stock in the last year reveal an average target price of $118.80 per share, which has left investors and market observers alike perplexed and curious about the company’s future prospects.
Surprisingly enough, Skyworks Solutions announced that its Board of Directors had approved a $2 billion stock repurchase program back in February 2023. The program allows the semiconductor manufacturer to buy up to 11.5% of its shares through open market purchases – an indication that its leadership believes its stock is undervalued.
The news came at a time when SWKS was experiencing fluctuations in share prices on NASDAQ; SWKS opened at $96.91 on Friday, with a fifty-day moving average price of $110.09 and two hundred-day moving average price of $103.06.
At present, Skyworks Solutions boasts of having a market capitalization of $15.42 billion and P/E ratio standing at 13.22 – figures that have attracted many investors hoping to make sound investment decisions for their hard-earned money.
Though still far from its fifty-two week low mark of $76.16 incurred during one part of 2022 and failing to reach its previous high point achieved in mid-2023 at $123.69, Skyworks Solutions remains optimistic about opportunities coming its way soon.
The company’s debt-to-equity ratio is currently situated at 0.30 along with desirable current and quick ratios standing at 2.79 and 1.75, respectively.
With all the available information gathered thus far, many industry insiders believe that Skyworks Solutions has its best years ahead of it – with a promising future in terms of growth and long-term investment opportunities.
Skyworks Solutions: Flurry of Analyst and Hedge Fund Activity Amidst Innovations in Semiconductor Technology.
Skyworks Solutions, a global player in the semiconductor industry, has recently seen a flurry of activity by research analysts and hedge funds alike. Needham & Company LLC decreased their price objective on Skyworks’ stock from $140.00 to $130.00, whereas JPMorgan Chase & Co. lifted their target price on Skyworks Solutions from $95.00 to $120.00.
Benchmark also increased their target price on shares of Skyworks Solutions from $120.00 to $135.00 and gave the stock a “buy” rating in a report on May 12, 2023. Meanwhile, Piper Sandler dropped its price objective on the company’s shares from $120.00 to $107.00 in its most recent research note.
On the hedge fund front, institutional investors now own 75.37% of Skyworks Solutions’ stock, with major stake holders including FMR LLC., Victory Capital Management Inc., and FIL Ltd.
Skyworks posted its quarterly earnings results on May 8th this year, reporting an EPS of $2.02 for the quarter but falling short of analysts’ consensus estimates of $2.03 by ($0.01). Despite this setback, equities analysts predict that Skyworks Solutions will post earnings of 8.16 per share for its current fiscal year.
In other news, Skyworks announced a quarterly dividend set to be paid out on June 20th this year to shareholders registered before May 30th this year who will receive a dividend amounting to $0.62 per share.
Skyworks’ journey in the competitive semiconductor marketplace has been fascinating since its inception as an aerial photography company back in the late seventies till today as it leads groundbreaking research into frontier technologies such as AI-focused chips and IoT enabled devices that aim to bring about seamless tech integration across industries – industries ranging from healthcare and manufacturing sectors all through fintech and integrated mobility services.
All eyes are keenly focused on the horizon as experts and analysts marvel at just what Skyworks Solutions could achieve next. What cutting edge technology is yet to evolve, involve itself, and propel humanity into another world of innovation and global progress?
