Skyworks Solutions Given Neutral Rating at Zacks (SWKS)
Skyworks Solutions (NASDAQ:SWKS)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Tuesday, AmericanBankingNews.com reports. They currently have a $32.00 price target on the stock. Zacks‘ price target indicates a potential upside of 4.81% from the company’s current price.
Zacks‘ analyst wrote, “Skyworks reported strong first quarter 2014 results with adjusted earnings exceeding the Zacks Consensus Estimate by $0.10. Skyworks continues to benefit from strong underlying demand in the mobile Internet sector, backed by market share gains and new product launches. The company is also rapidly expanding its footprint in complementary new verticals such as medical, automotive, military and industrial markets, and continues to gain market share in the adjacent verticals as well. However, macroeconomic uncertainty and stiff competition might peg back its profitability to some extent going forward. We maintain our long-term Neutral recommendation for the stock as we anticipate it to perform in line with the broader market.”
In other Skyworks Solutions news, CEO David Aldrich sold 60,000 shares of the company’s stock on the open market in a transaction dated Wednesday, January 8th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on SWKS. Analysts at Barclays raised their price target on shares of Skyworks Solutions from $23.00 to $26.00 in a research note to investors on Friday. They now have an “equal weight” rating on the stock. Separately, analysts at DA Davidson reiterated a “buy” rating on shares of Skyworks Solutions in a research note to investors on Friday. They now have a $40.00 price target on the stock, up previously from $35.00. Finally, analysts at Northland Securities raised their price target on shares of Skyworks Solutions to $40.00 in a research note to investors on Friday. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $34.36.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded up 1.34% during mid-day trading on Tuesday, hitting $30.94. The stock had a trading volume of 3,605,755 shares. Skyworks Solutions has a 52 week low of $19.57 and a 52 week high of $29.30. The stock’s 50-day moving average is $27.91 and its 200-day moving average is $25.49. The company has a market cap of $5.830 billion and a price-to-earnings ratio of 21.06.
Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, January 16th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts expect that Skyworks Solutions will post $2.56 EPS for the current fiscal year.
Skyworks Solutions, Inc (NASDAQ:SWKS) offers analog and mixed signal semiconductors.
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