Skyworks Solutions Sees Large Decrease in Short Interest (SWKS)
Skyworks Solutions (NASDAQ:SWKS) saw a significant drop in short interest in May. As of May 15th, there was short interest totalling 3,875,632 shares, a drop of 23.3% from the April 30th total of 5,054,431 shares, Analyst Ratings Network reports. Approximately 2.1% of the company’s stock are short sold. Based on an average daily volume of 2,819,274 shares, the days-to-cover ratio is currently 1.4 days.
In other Skyworks Solutions news, Director David Mclachlan unloaded 2,000 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $40.90, for a total value of $81,800.00. Following the completion of the sale, the director now directly owns 59,765 shares in the company, valued at approximately $2,444,389. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on SWKS. Analysts at Craig Hallum raised their price target on shares of Skyworks Solutions to $56.00 in a research note on Tuesday. Separately, analysts at Brean Capital raised their price target on shares of Skyworks Solutions from $48.00 to $51.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Northland Securities raised their price target on shares of Skyworks Solutions from $47.00 to $55.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $44.82.
Shares of Skyworks Solutions (NASDAQ:SWKS) opened at 45.65 on Wednesday. Skyworks Solutions has a one year low of $20.62 and a one year high of $45.89. The stock has a 50-day moving average of $41.03 and a 200-day moving average of $33.96. The company has a market cap of $8.655 billion and a P/E ratio of 25.62.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.59 by $0.03. The company had revenue of $481.00 million for the quarter, compared to the consensus estimate of $470.26 million. During the same quarter last year, the company posted $0.48 earnings per share. Skyworks Solutions’s revenue was up 13.1% compared to the same quarter last year. Analysts expect that Skyworks Solutions will post $2.81 EPS for the current fiscal year.
Skyworks Solutions, Inc (NASDAQ:SWKS) is a producer of analog semiconductors.
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