Skyworks Solutions (NASDAQ:SWKS) Stock, Quote.Headers.trade-ideas

Skyworks Solutions

Skyworks Solutions produces semiconductors for wireless handsets and other devices that are used to enable wireless connectivity. Its main products include power amplifiers, filters, switches, and integrated front-end modules that support wireless transmissions. Skyworks' customers are mostly large smartphone manufacturers, but the firm also has a growing presence in nonhandset applications such as wireless routers, medical devices, and automobiles.

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Semiconductor stocks saw a surprising surge, despite Nvidia&#39;s outlook not meeting investors&#39; high expectations.

Semiconductor ETFs Rally Despite Nvidia Dip: 10 Chipmakers Defy The AI Darling&#39;s Drop

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Skyworks Solutions Analysts Boost Their Forecasts After Q3 Results

Skyworks Solutions Inc

Financial giants have made a conspicuous bullish move on Skyworks Solutions. Our analysis of options history for Skyworks Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) revealed 15 unusual trades.
Delving into the details, we found 46% of traders were bullish, while 26% showed bearish tendencies. Out of all the trades we spotted, 13 were puts, with a value of $604,369, and 2 were calls, valued at $133,202.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $101.0 for Skyworks Solutions over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Skyworks Solutions's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Skyworks Solutions's whale activity within a strike price range from $75.0 to $101.0 in the last 30 days. 
<h3>Skyworks Solutions Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726506946_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SWKS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$6.7</td>
<td>$6.4</td>
<td>$6.4</td>
<td>$75.00</td>
<td>$96.6K</td>
<td>40</td>
<td>153</td>
</tr>
<tr>
<td>SWKS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$3.0</td>
<td>$2.7</td>
<td>$3.0</td>
<td>$97.00</td>
<td>$92.7K</td>
<td>36</td>
<td>2.1K</td>
</tr>
<tr>
<td>SWKS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$28.2</td>
<td>$25.2</td>
<td>$27.4</td>
<td>$75.00</td>
<td>$82.2K</td>
<td>14</td>
<td>30</td>
</tr>
<tr>
<td>SWKS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$2.25</td>
<td>$2.05</td>
<td>$2.25</td>
<td>$96.00</td>
<td>$67.0K</td>
<td>47</td>
<td>2.1K</td>
</tr>
<tr>
<td>SWKS</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$3.5</td>
<td>$2.15</td>
<td>$2.7</td>
<td>$101.00</td>
<td>$54.0K</td>
<td>1.6K</td>
<td>200</td>
</tr>
</tbody>
</table>

<h3>About Skyworks Solutions</h3>
Skyworks Solutions produces semiconductors for wireless handsets and other devices that are used to enable wireless connectivity. Its main products include power amplifiers, filters, switches, and integrated front-end modules that support wireless transmissions. Skyworks' customers are mostly large smartphone manufacturers, but the firm also has a growing presence in nonhandset applications such as wireless routers, medical devices, and automobiles.
Having examined the options trading patterns of Skyworks Solutions, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of Skyworks Solutions</h3>
<ul>
<li>Trading volume stands at 1,689,312, with SWKS's price down by -2.88%, positioned at $99.52.</li>
<li>RSI indicators show the stock to be may be approaching oversold.</li>
<li>Earnings announcement expected in 45 days.</li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Skyworks Solutions, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Skyworks Solutions's Options Frenzy: What You Need to Know

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Shares of semiconductor and chip stocks are trading lower. The sector has been volatile recently as investors assess economic data, potential Fed policy and the sector's year-to-date performance.

The Nasdaq 100 closed higher by around 0.5% during Friday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Skyworks Solutions</h3>
<ul>
<li>The Trade: Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) SVP, Sales &amp; Marketing Carlos S Bori <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 9,321 shares</a> at an average price of $101.97. The insider received around $950,462 from selling those shares.</li>
<li>What's Happening: On July 30, Skyworks Solutions reported quarterly earnings of $1.21 per share which missed the analyst consensus estimate of $1.23 and is a 30.06% decrease from the same period last year.</li>
<li>What Skyworks Solutions Does: Skyworks Solutions produces semiconductors for wireless handsets and other devices that are used to enable wireless connectivity. </li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091624&amp;t=be2bearmibe3na1"> latest SWKS new</a>s. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="908" height="848" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16053917/image-113.png" alt="" class="wp-image-549152" style="width:736px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16053917/image-113.png 908w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16053917/image-113-300x280.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16053917/image-113-768x717.png 768w" sizes="(max-width: 908px) 100vw, 908px" /></a></figure>
<h3 class="wp-block-heading">Dell Technologies</h3>
<ul>
<li>The Trade: Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) CEO Michael S Dell <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 3,920,259 shares</a> at an average price of $110.62. The insider received around $433.7 million from selling those shares.</li>
<li>What's Happening: On Sept. 10, Susquehanna analyst Mehdi Hosseini initiated coverage on Dell with a Neutral rating and announced a price target of $120.</li>
<li>What Dell Technologies Does: Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises. </li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091624&amp;t=be2bearmibe3na1">trend in DELL stock. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="912" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16053931/image-114.png" alt="" class="wp-image-549153" style="width:712px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16053931/image-114.png 912w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16053931/image-114-300x277.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16053931/image-114-768x709.png 768w" sizes="(max-width: 912px) 100vw, 912px" /></a></figure>
<h3 class="wp-block-heading">Warner Music Group</h3>
<ul>
<li>The Trade: Warner Music Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WMG#NASDAQ">WMG</a>) CEO Max Lousada <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 250,769 shares</a> at an average price of $28.09. The insider received around $7.04 million from selling those shares.</li>
<li>What's Happening: On Sept. 12, Tigress Financial analyst Ivan Feinseth maintained Warner Music with a Buy and lowered the price target from $52 to $44.</li>
<li>What Warner Music Group Does: Warner Music is the third-largest of the three major record companies. </li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091624&amp;t=be2bearmibe3na1"> breakout in WMG shares.</a> </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="883" height="831" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16054007/image-115.png" alt="" class="wp-image-549154" style="width:697px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16054007/image-115.png 883w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16054007/image-115-300x282.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16054007/image-115-768x723.png 768w" sizes="(max-width: 883px) 100vw, 883px" /></a></figure>
<h3 class="wp-block-heading">Netflix</h3>
<ul>
<li>The Trade: Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) Director Jay C Hoag <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 43,750 share</a>sat an average price of $687.08. The insider received around $30.06 million from selling those shares.</li>
<li>What's Happening: Netflix will post its third quarter 2024 financial results on Thursday, Oct. 17.</li>
<li>What Netflix Does: Netflix&#8217;s relatively simple business model involves only one business, its streaming service. </li>
<li>Benzinga Pro's earnings calendar was used to track upcoming <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091624&amp;t=be2bearmibe3na1">NFLX&#8217;s earnings report</a>s. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="892" height="802" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16054051/image-1-31.png" alt="" class="wp-image-549157" style="width:563px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16054051/image-1-31.png 892w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16054051/image-1-31-300x270.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16054051/image-1-31-768x691.png 768w" sizes="(max-width: 892px) 100vw, 892px" /></a></figure>
Check This Out:<a href="https://www.benzinga.com/markets/24/09/40860420/jim-cramer-hold-on-to-builders-firstsource-heres-the-problem-with-viking-therapeutics"> </a>
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40860420/jim-cramer-hold-on-to-builders-firstsource-heres-the-problem-with-viking-therapeutics">Jim Cramer: &#8216;Hold On&#8217; To Builders FirstSource, &#8216;Here&#8217;s The Problem&#8217; With Viking Therapeutics</a></li>
</ul>

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Shares of semiconductor stocks are trading lower amid overall market weakness. A drop in the price of NVIDIA may weigh down the sector.

Thursday&#8217;s trading session unfolded with semiconductor stocks surging despite a drop in Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/news/24/08/40620740/nvidia-etfs-split-in-pre-market-after-jensen-huang-led-chip-giant-exceeded-q2-expectations">shares.</a>
Nvidia's earnings were seen as a critical juncture for the broader stock market in August, with the potential to either boost or reverse the recent rally. However, events did not play out as many had expected.
<h3 class="wp-block-heading">Nvidia Shares Fall On Unimpressive Guidance</h3>
Nvidia&#8217;s shares failed to rebound after a negative reaction in Wednesday&#8217;s post-market hours.
The Santa Clara, California-based company reported quarterly revenue of $30 billion, beating estimates of $28.86 billion, reflecting a 15% increase from the previous quarter and an impressive 122% year-over-year growth.
Net income reached $16.6 billion, up 12% from the prior quarter and a significant 168% increase compared to the same quarter last year. Earnings per share came in at 68 cents, surpassing the expected 64 cents.
Despite surpassing Wall Street&#8217;s revenue and earnings forecasts, Nvidia&#8217;s outlook failed to meet investors' already lofty expectations for the coming quarters. The company projected this quarter's revenue at $32.5 billion, plus or minus 2%, slightly above the estimated $31.9 billion, but not enough to excite the market.
See Also: <a href="https://www.benzinga.com/news/24/08/40624703/nvidia-to-rally-over-31-here-are-10-top-analyst-forecasts-for-thursday">NVIDIA To Rally Over 31%? Here Are 10 Top Analyst Forecasts For Thursday</a>
<h3 class="wp-block-heading">7 Semiconductor ETFs Rise</h3>
Investors likely viewed Nvidia's quarterly results as a standalone event, opting for caution as the company's guidance did not significantly exceed expectations. 
Yet, they maintained a generally positive sentiment toward the broader market. Competitors of the AI giant experienced a marked rally, deviating from their usual trend of closely following Nvidia&#8217;s performance. 
&#8220;We believe Nvidia's comments on Data Center demand were constructive,&#8221; Toshiya Hari, an analyst at Goldman Sachs, stated. The company&#8217;s outlook for data center demand bodes well for other semiconductor firms involved in the AI infrastructure build-out.
Hari highlighted &#8220;ongoing tightness in High-Bandwidth Memory as a material positive for Buy-rated Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>).&#8221;
Even exchange-traded funds (ETFs) with a significant Nvidia exposure witnessed positive performance during Thursday's trading session. Here are some notable movers:
<ul>
<li>Strive U.S. Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>): up 0.7%, despite Nvidia comprising 30% of the fund.</li>
<li>VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>): up 0.8%.</li>
<li>VanEck Fabless Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMHX#NYSE">SMHX</a>): up 1.2%. This newly launched ETF focuses on companies that specialize in chip design and development while outsourcing production.</li>
<li>Invesco PHLX Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NYSE">SOXQ</a>): up 1.4%.</li>
<li>First Trust Nasdaq Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXL#NASDAQ">FTXL</a>): up 1.6%.</li>
<li>iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>): up 1.7%.</li>
<li>SPDR S&amp;P Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XSD#NYSE">XSD</a>): up 2.7%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Top-Performing Semiconductor Stocks</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day %</td>
</tr>
<tr>
<td>Arm Holdings pic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>)</td>
<td>4.81%</td>
</tr>
<tr>
<td>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</td>
<td>4.50%</td>
</tr>
<tr>
<td>Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>)</td>
<td>4.29%</td>
</tr>
<tr>
<td>ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>)</td>
<td>4.18%</td>
</tr>
<tr>
<td>Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>)</td>
<td>3.73%</td>
</tr>
<tr>
<td>Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>)</td>
<td>3.37%</td>
</tr>
<tr>
<td>Onto Innovation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONTO#NASDAQ">ONTO</a>)</td>
<td>3.06%</td>
</tr>
<tr>
<td>Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>)</td>
<td>2.98%</td>
</tr>
<tr>
<td>Analog Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>)</td>
<td>2.82%</td>
</tr>
<tr>
<td>Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>)</td>
<td>2.80%</td>
</tr>
</tbody>
</table>
</figure>
Now Read:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40628887/nvidia-analysts-say-pullback-is-buying-opportunity-pushing-ai-envelope-too-signific">Nvidia Analysts Say Pullback Is Buying Opportunity: &#8216;Pushing AI Envelope Too Significant To Slow Down&#8217;</a></li>
</ul>

Semiconductor ETFs Rally Despite Nvidia Dip: 10 Chipmakers Defy The AI Darling's Drop

Shares of semiconductor and chip stocks are trading higher in possible reaction to NVIDIA's earnings report. NVIDIA fell despite better-than-expected financial results.

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Shares of semiconductor stocks are trading higher amid overall market strength following Fed Chair Powell's comments about the economy and future rate cuts.

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Shares of semiconductor stocks are trading higher amid overall market strength as stock rebound following upbeat US economic data, which could be alleviating recession worries.

Shares of semiconductor and chip stocks are trading higher amid overall market strength following softer-than-expected PPI figures.

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Shares of semiconductor and chip stocks are trading higher amid an overall market rebound after softer-than-expected jobless claims possibly alleviated some US economic concerns.

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Shares of stocks in the broader tech sector are trading lower as stocks sell off amid concerns over the US economy.

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Shares of semiconductor stocks are trading lower in sympathy with Intel, which reported worse-than-expected Q2 financial results and issued soft guidance.

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Shares of chip stocks are trading lower amid overall market weakness. Recent earnings from large names in the sector may also be weighing on the sector.

TD Cowen analyst Matthew Ramsay maintains Skyworks Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) with a Hold and raises the price target from $90 to $110.

TD Cowen Maintains Hold on Skyworks Solutions, Raises Price Target to $110

JP Morgan analyst Peter Peng maintains Skyworks Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) with a Neutral and raises the price target from $105 to $120.

JP Morgan Maintains Neutral on Skyworks Solutions, Raises Price Target to $120

Susquehanna analyst Christopher Rolland maintains Skyworks Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) with a Neutral and maintains $125 price target.

Susquehanna Maintains Neutral on Skyworks Solutions, Maintains $125 Price Target

Skyworks Solutions Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) reported mixed third-quarter <a href="https://www.benzinga.com/news/earnings/24/07/40052319/skyworks-solutions-posts-mixed-q3-results-the-details">financial results on Tuesday</a>.
Skyworks Solutions reported quarterly earnings of $1.21 per share which missed the analyst consensus estimate of $1.23 and is a 30.06% decrease from the same period last year.
Quarterly sales came in at $905.5 million which beat the analyst consensus estimate of $900.4 million and represents a 15.47% decrease in sales from the same period last year.
"Skyworks generated solid results and strong profitability consistent with our guidance," said Liam K. Griffin, CEO of Skyworks. "Exiting the June quarter, our mobile business is ramping up while our broad markets business continues to recover. Over the medium-to-long-term, we expect generative AI applications will migrate to the edge, including the smartphone, driving a meaningful replacement cycle and leading to higher levels of RF complexity."
Skyworks expects fourth-quarter revenue to be between $1 billion to $1.04 billion with non-GAAP diluted earnings per share of $1.52 at the mid-point of the revenue range, versus the estimate of $1.51. The company expects its mobile business to be up approximately 20% sequentially, as demand and supply patterns appear to be normalizing.
Skyworks shares fell 5.7% to trade at $110.95 on Wednesday.
These analysts made changes to their price targets on Skyworks following earnings announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58fe05b80bd9910001595370/harsh-kumar">Piper Sandler analyst Harsh Kumar</a> reiterated Skyworks with a Neutral rating, while raising the price target from $95 to $115.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59972d99803ad30001fc246d/kevin-cassidy">Rosenblatt analyst Kevin Cassidy</a> maintained the stock with a Buy and raised the price target from $120 to $130.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58ad935ab85e930001f97192/ruben-roy">Stifel analyst Ruben Roy</a> maintained Skyworks with a Buy and boosted the price target from $112 to $125.</li>
<li><a href="https://widgets.benzinga.com/analyst-stock-ratings/analyst/588f38af77f9dd00016a51b8/tristan-gerra">Baird analyst Tristan Gerra</a> maintained the stock with a Neutral and raised the price target from $90 to $108.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58b96e16b85e930001592a0e/anthony-stoss">Craig-Hallum analyst Anthony Stoss </a>maintained Skyworks with a Buy and raised the price target from $125 to $140..</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58a5e02943eaaa00018d9399/vivek-arya">B of A Securities analyst Vivek Arya</a> maintained Skyworks with an Underperform rating and boosted the price target from $95 to $110.</li>
</ul>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">Jim Cramer Says This Home Improvement Chain Is A Buy Ahead Of Fed Rate Cut Cycle: &#8216;I Would Pick Some Up Tomorrow&#8217;</a></li>
</ul>

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Benchmark cut the price target for iQIYI, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IQ#NASDAQ">IQ</a>) from $9 to $5 Benchmark analyst Fawne Jiang maintained a Buy rating. iQIYI shares rose 4% to trade at $3.3599 on Wednesday. S<a href="https://www.benzinga.com/quote/IQ/analyst-ratings">ee how other analysts view this stock</a>.</li>
<li>B of A Securities boosted the price target for Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) from $150 to $170. B of A Securities analyst Omar Dessouky maintained a Buy rating. Electronic Arts shares rose 2.3% to trade at $152.58 on Wednesday. <a href="https://www.benzinga.com/quote/EA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Raymond James increased Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) price target from $115 to $135. Keybanc analyst Justin Patterson maintained an Overweight rating. Qorvo shares fell 3.2% to trade at $115.59 on Wednesday. <a href="https://www.benzinga.com/quote/QRVO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc cut the price target for Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) from $45 to $43. Mizuho analyst Brett Linzey maintained a Neutral rating. Pinterest shares fell 12.8% to trade at $32.54 on Wednesday. S<a href="https://www.benzinga.com/quote/PINS/analyst-ratings">ee how other analysts view this stock</a>.</li>
<li>JP Morgan raised Hubbell Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBB#NYSE">HUBB</a>) price target from $383 to $385. JP Morgan analyst Stephen Tusa maintained an Overweight rating. Hubbell shares rose 4.7% to trade at $397.54 on Wednesday. <a href="https://www.benzinga.com/quote/HUBS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Evercore ISI Group increased CNO Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNO#NYSE">CNO</a>) price target from $27 to $29. Evercore ISI Group analyst Thomas Gallagher maintained an Underperform rating. CNO Financial shares gained 1.1% to trade at $34.69 on Wednesday. S<a href="https://www.benzinga.com/quote/CNO/analyst-ratings">ee how other analysts view this stock</a>.</li>
<li>Craig-Hallum raised the price target for Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) from $125 to $140. Craig-Hallum analyst Anthony Stoss maintained a Buy rating. Skyworks shares fell 5.3% to trade at $111.51 on Wednesday.<a href="https://www.benzinga.com/quote/SWKS/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>Baird boosted Zebra Technologies Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZBRA#NASDAQ">ZBRA</a>) price target from $355 to $375. Baird analyst Richard Eastman maintained an Outperform rating. Zebra Technologies shares rose 0.8% to trade at $350.86 on Wednesday. <a href="https://www.benzinga.com/quote/ZBRA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wedbush increased LendingClub Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LC#NYSE">LC</a>) price target from $11 to $14. Wedbush analyst David Chiaverini maintained an Outperform rtaing. LendingClub shares rose 11.8% to trade at $12.51 on Wednesday. <a href="https://www.benzinga.com/quote/LC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wells Fargo boosted Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) price target from $500 to $515. Wells Fargo analyst Michael Turrin maintained an Overweight rating. Microsoft shares fell 1.6% to trade at $416.07 on Wednesday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
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B of A Securities analyst Vivek Arya maintains Skyworks Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) with a Underperform and raises the price target from $95 to $110.

B of A Securities Maintains Underperform on Skyworks Solutions, Raises Price Target to $110

Craig-Hallum analyst Anthony Stoss maintains Skyworks Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) with a Buy and raises the price target from $125 to $140.

Craig-Hallum Maintains Buy on Skyworks Solutions, Raises Price Target to $140

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
One of the biggest shockers of the latest Berkshire Hathaway (NYSE:<a href="https://investorplace.com/stock-quotes/brk.a-stock-quote/">BRK-A</a>, NYSE:<a href="https://investorplace.com/stock-quotes/brk.b-stock-quote/">BRK-B</a>) quarterly unveiling was how much Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>) stock the firm sold. Indeed, many expected Warren Buffett&rsquo;s conglomerate to sell some Apple stock after trimming its stake by 13% in the first quarter. However, the reaction in Apple shares seemed to suggest that few investors saw Berkshire shedding nearly half of its stake in such a hurry.



With around 56% of the Apple stake now freshly reduced, fans of Berkshire and Buffett may now be wondering where the firm goes from here. Arguably, the Apple bet was one of Buffett&rsquo;s best investments of all time. 



In any case, Berkshire&rsquo;s cash reserves keep growing while potential opportunities get slimmer with every upward surge. The latest market sell-off may have changed things slightly. Regardless, here are a few stocks that may make sense to pick up as Buffett&rsquo;s big Apple sale worries some market participants.



<h2>Apple (AAPL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/aapl-1600-300x169.png" alt="Apple logo on a pink and purple background. AAPL stock."><div>Source: Moab Republic / Shutterstock</div></div>Apple stock crumbled by close to 5% as investors reacted to the magnitude of Berkshire&rsquo;s latest share sale. Undoubtedly, the move seemed mostly like a massive overreaction. Just because Buffett thinks it&rsquo;s a good idea to raise cash on one of his firm&rsquo;s biggest winners doesn&rsquo;t mean AAPL stock is poised for weak performance.



Of course, only time will tell if Buffett was right to sell in the first half of 2024. If Apple Intelligence exceeds the expectations of the many bullish analysts on Wall Street, the timing of recent sales may look ill-timed. In many ways, <a href="https://bgr.com/tech/apple-intelligence-will-reportedly-be-free-until-at-least-2027/">Apple Intelligence</a> stands out as one of those technologies that can evolve the smartphone business.



Winning the AI race isn&rsquo;t just about spending money hand over fist on GPUs or achieving the model with the most parameters. It&rsquo;s more about maintaining user trust, maximizing efficiencies, and, perhaps most importantly, ensuring high-quality outputs. Apple has a good shot of getting Intelligence right. And if they do, those who sell on the Berkshire sale news may have to buy back at much higher prices.



<h2>Skyworks Solutions (SWKS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/swks-stock-1-300x169.jpg" alt="the Skyworks website is loading on a smartphone"><div>Source: madamF / Shutterstock.com</div></div>Skyworks Solutions (NASDAQ:<a href="https://investorplace.com/stock-quotes/swks-stock-quote/">SWKS</a>) depends greatly on the success of the Apple iPhone. The Apple component supplier has been in a tough spot, even before Berkshire unveiled that it had cut its stake in half.



In any case, Berkshire&rsquo;s big Apple sale seems to be salt in the wounds of Skyworks more than anything. If Apple doesn&rsquo;t experience any AI-induced refresh cycle over the medium term, Skyworks may have a tougher time bouncing back after a rough start to the year. The stock is down slightly (around 6%) this year.



The latest quarterly results from Skyworks haven&rsquo;t been anything to write home about, either. Barclays analyst Tom O&rsquo;Malley, who has a hold rating on SWKS stock, thought Skyworks had satisfactory numbers that came &ldquo;slightly ahead&rdquo; of expectations. Still, the results didn&rsquo;t convince him to upgrade the name to a buy.



If you believe in the iPhone upgrade cycle, you may consider buying SWKS on the recent weakness.



<h2>Berkshire Hathaway (BRK-B, BRK-B)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/brk-1-300x169.jpg" alt="A close-up of a Berkshire Hathaway (BRK-A, BRK-B) office in Terra Haute, Indiana."><div>Source: Jonathan Weiss / Shutterstock.com</div></div>Finally, we have Berkshire Hathaway, which initially plunged following the <a href="https://fortune.com/2024/08/11/buffett-apple-stock-holdings-sell-forecast/">big Apple stake cut news</a>, only to rally abruptly in the following sessions. At writing, BRK-B stock is now up 4% since its August lows. Undoubtedly, the Apple share sale news may have caused a bit of jitter for some Berkshire shareholders, at least initially.



Even if Berkshire&rsquo;s pile of cash is an ominous sign for the markets, investors can seek (relative) safety in Berkshire. Arguably, a market correction is a good thing for long-term holders of Berkshire Hathaway stock. 



Though there&rsquo;s no guarantee that Buffett and company will be net buyers when the market takes a tumble, I&rsquo;d argue that a plunge increases the chances of a ball being thrown in the legendary conglomerate&rsquo;s strike zone. Buffett once said that investing is a &ldquo;no-called strikes game.&rdquo; Until the market starts throwing better pitches, don&rsquo;t expect Berkshire to swing its bat.



On the date of publication, Joey Frenette held a long position in AAPL and BRK-B. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://protect-us.mimecast.com/s/YUYqC31vVVI7KAkriDfKi6?domain=investorplace.com/">Publishing Guidelines</a>.



On the date of publication, the responsible editor held a long position in AAPL.
<div>Joey Frenette is a seasoned investment writer specializing in technology and consumer stocks. Contributing to the Motley Fool Canada, TipRanks, and Barchart, Joey excels in spotting mispriced stocks with long-term growth potential in a fast-paced market.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/08/3-ways-to-play-warren-buffetts-56-apple-stake-reduction/">3 Ways to Play Warren Buffett&#8217;s 56% Apple Stake Reduction </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Skyworks Solutions (SWKS) Forecast

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