Skyworks Solutions Given New $36.00 Price Target at Canaccord Genuity (SWKS)
Canaccord Genuity increased their price objective on shares of Skyworks Solutions (NASDAQ:SWKS) from $33.00 to $36.00 in a research note issued on Friday, Analyst RN reports. Canaccord Genuity’s target price points to a potential upside of 25.79% from the company’s current price.
Skyworks Solutions (NASDAQ:SWKS) opened at 28.62 on Friday. Skyworks Solutions has a 52-week low of $19.57 and a 52-week high of $29.30. The stock has a 50-day moving average of $27.91 and a 200-day moving average of $25.47. The company has a market cap of $5.392 billion and a price-to-earnings ratio of 20.08.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings data on Thursday, January 16th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.01. The company had revenue of $505.00 million for the quarter, compared to the consensus estimate of $500.01 million. During the same quarter last year, the company posted $0.54 earnings per share. Skyworks Solutions’s revenue was up 11.3% compared to the same quarter last year. On average, analysts predict that Skyworks Solutions will post $2.56 earnings per share for the current fiscal year.
In other Skyworks Solutions news, CEO David Aldrich sold 60,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $28.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Brean Capital raised their price target on shares of Skyworks Solutions from $30.00 to $35.00 in a research note to investors on Friday. Separately, 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. Finally, 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. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $32.60.
Skyworks Solutions, Inc (NASDAQ:SWKS) offers analog and mixed signal semiconductors.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.