Skyworks Solutions, Inc. (NASDAQ:SWKS) is among the top losers of the stock market today, sinking -2.67% or (-3.27 points) to $119.32 from its previous close of $122.59. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 810290 contracts so far this session. SWKS shares had a relatively better volume day versus average trading capacity of 2.25 million shares, but with a 0.17 billion float and a 4.17% 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 $129.38 per share. This means the stock has a potential increase of 8.43% from where the SWKS share price has been trading recently.
During the recent trading session for Skyworks Solutions, Inc. (NASDAQ:SWKS), the company witnessed their stock rise $5.74 over a week and tumble down $-3.41 from the price 20 days ago. When compared to their established 52-week high of $128.48, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/24/20. The recent low of $66.29 stood for a -7.13% since 03/06/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.24 is also allocated to the stock. Since the beta is greater 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 51.11. 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 72.13% at this stage. This figure means that SWKS share price today is being oversold.
Technical chart claims that Skyworks Solutions, Inc. (SWKS) would settle between $124.39/share to $126.18/share level. However, if the stock price goes below the $120.92 mark, then the market for Skyworks Solutions, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $119.25 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 2.89. 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 Wells Fargo, assumed coverage of SWKS assigning Overweight rating, according to their opinion released on February 10. Needham analysts again handed out a Buy recommendation to Skyworks Solutions, Inc. (NASDAQ:SWKS) stock but they lifted target price for the shares in a flash note issued to investors on January 24. The target price has been raised from $120 to $145. Analysts at Craig Hallum are sticking to their Buy stance. However, on January 24, they lifted price target for these shares to $140 from $125.
SWKS equity has an average rating of 2.47, with the figure leaning towards a bullish end. 30 analysts who tracked the company were contacted by Reuters. Amongst them, 12 rated the stock as a hold while the remaining 18 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. 17 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 15.78X forward 12-month Consensus EPS estimates, and its P/E ratio is 25.6 while for the average stock in the same group, the multiple is 28.3. Skyworks Solutions, Inc. current P/B ratio of 4.9 means it is trading at a discount against its industry’s 5.2.