Skyworks Solutions (SWKS) Releases Quarterly Earnings Results
Skyworks Solutions (NASDAQ:SWKS) issued its quarterly earnings data on Thursday. The company reported $0.67 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.66 by $0.01, American Banking News reports. The company had revenue of $505.00 million for the quarter, compared to the consensus estimate of $500.01 million.
In other Skyworks Solutions news, CEO David Aldrich unloaded 60,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 349,928 shares in the company, valued at approximately $9,797,984. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Skyworks Solutions (NASDAQ:SWKS) traded down 1.68% during mid-day trading on Thursday, hitting $28.62. The stock had a trading volume of 5,655,876 shares. Skyworks Solutions has a 1-year low of $19.57 and a 1-year high of $29.30. The stock has a 50-day moving average of $27.84 and a 200-day moving average of $25.44. The company has a market cap of $5.392 billion and a P/E ratio of 20.08.
A number of analysts have recently weighed in on SWKS shares. Analysts at JMP Securities reiterated a “market perform” rating on shares of Skyworks Solutions in a research note to investors on Monday. They now have a $40.00 price target on the stock. On a related note, analysts at B. Riley upgraded shares of Skyworks Solutions from a “neutral” rating to a “buy” rating in a research note to investors on Monday. Finally, 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. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $31.00.
Skyworks Solutions, Inc (NASDAQ:SWKS) offers analog and mixed signal semiconductors.
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