B. Riley Upgrades Skyworks Solutions to Buy (SWKS)
Skyworks Solutions (NASDAQ:SWKS) was upgraded by equities researchers at B. Riley from a “neutral” rating to a “buy” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Skyworks Solutions in a research note to investors on Thursday, November 7th. They now have a $27.00 price target on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Skyworks Solutions from $32.00 to $34.00 in a research note to investors on Thursday, October 31st. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Skyworks Solutions from $30.00 to $33.00 in a research note to investors on Thursday, October 31st. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Skyworks Solutions currently has a consensus rating of “Buy” and a consensus price target of $31.00.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded up 2.49% on Monday, hitting $28.44. 4,978,289 shares of the company’s stock traded hands. Skyworks Solutions has a 1-year low of $19.57 and a 1-year high of $29.21. The stock’s 50-day moving average is $27.7 and its 200-day moving average is $25.36. The company has a market cap of $5.358 billion and a P/E ratio of 19.14.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $477.00 million for the quarter, compared to the consensus estimate of $474.80 million. During the same quarter last year, the company posted $0.53 earnings per share. Skyworks Solutions’s revenue was up 13.3% compared to the same quarter last year. Analysts expect that Skyworks Solutions will post $2.57 EPS for the current fiscal year.
In other Skyworks Solutions news, CEO David Aldrich unloaded 60,000 shares of Skyworks Solutions stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $28.00, for a total transaction of $1,680,000.00. Following the completion of the sale, the chief executive officer now directly owns 349,928 shares of the company’s stock, valued at approximately $9,797,984. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Skyworks Solutions, Inc (NASDAQ:SWKS) offers analog and mixed signal semiconductors.
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