Here’s Why Skyworks Solutions, Inc. (SWKS) Took A Beating Today

The biggest losers of the session on the Wall Street include Skyworks Solutions, Inc. (NASDAQ:SWKS), which fell 0 points or 0% to trade at $78.75 as last check. The stock closed last session at $78.75 and sets an active trading volume day with a reported 0 contracts so far this session. SWKS shares had a relatively better volume day versus average trading capacity of 1.78 million shares, but with a 0.17 billion float and a -6.32% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SWKS stock indicates that the average analyst price target is $99.5 per share. This means the stock has a potential increase of 26.35% from where the SWKS share price has been trading recently which is between $77.1744 and $79.39. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $80.

The shorts are climbing into Skyworks Solutions, Inc. (SWKS) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in SWKS shares. While short interest still represents only 2.65% of SWKS’s float, the number of shares shorted have risen by 275906. The number of shares shorted advanced to 4837442 shares, up from 4561536 shares during the preceding fortnight. With average daily trading volumes at 1719169 shares, days to cover decreased to about 3.646629 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “3 Top Tech Stocks to Buy in May” and dated May 15, 2019.

During the recent trading session for Skyworks Solutions, Inc. (NASDAQ:SWKS), the company witnessed their stock drop by $-7.24 over a week and tumble down $-14.78 from the price 20 days ago. When compared to their established 52-week high of $104.2, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/06/18. The recent low of $60.12 stood for a -24.42% since 03/01/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.71 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Skyworks Solutions, Inc., the two-week RSI stands at 35.75. This figure suggests that SWKS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SWKS readings is similarly very revealing as it has a stochastic reading of 11.02% at this stage. This figure means that SWKS share price today is being overbought.

Technical chart claims that Skyworks Solutions, Inc. (SWKS) would settle between $79.7/share to $80.65/share level. However, if the stock price goes below the $77.49 mark, then the market for Skyworks Solutions, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $76.22 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -3.38. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Craig Hallum lifted target price for shares of SWKS but were stick to Buy recommendation for the stock in their opinion released on May 03. The price target has been raised from $90 to $105. Cowen analysts again handed out a Market Perform recommendation to Skyworks Solutions, Inc. (NASDAQ:SWKS) stock but they lifted target price for the shares in a flash note issued to investors on May 03. The target price has been raised from $80 to $95. Analysts at BofA/Merrill are sticking to their Underperform stance. However, on May 03, they lifted price target for these shares to $80 from $70.

SWKS equity has an average rating of 2.36, with the figure leaning towards a bullish end. 28 analysts who tracked the company were contacted by Reuters. Amongst them, 13 rated the stock as a hold while the remaining 15 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 14 analysts rated Skyworks Solutions, Inc. (NASDAQ:SWKS) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, SWKS stock price is currently trading at 10.58X forward 12-month Consensus EPS estimates, and its P/S ratio is 5.51 while for the average stock in the same group, the multiple is 8.22. Skyworks Solutions, Inc. current P/E ratio of 20.17 means it is trading at a discount against its industry’s 166.15. In the past 5 years, this ratio for the stock has been fluctuating between 14.7 and 23.25.

Skyworks Solutions, Inc. (SWKS)’s current-quarter revenues are projected to climb by nearly -7.7% to hit $825460, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -7.82% from $3.87 billion to a noteworthy $3.57 billion. At the other end of the current quarter income statement, Skyworks Solutions, Inc. is expected to see its adjusted earnings surge by roughly -8.54% to hit $1.5 per share. For the fiscal year, SWKS’s earnings are projected to climb by roughly -8.31% to hit $6.62 per share.