Skyworks Solutions’s “Strong-Buy” Rating Reaffirmed at Raymond James (SWKS)
Skyworks Solutions (NASDAQ:SWKS)‘s stock had its “strong-buy” rating reaffirmed by investment analysts at Raymond James in a note issued to investors on Wednesday. They currently have a $55.00 target price on the stock, up from their previous target price of $50.00. Raymond James’ target price would suggest a potential upside of 20.48% from the company’s current price.
A number of other firms have also 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 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 stock. Skyworks Solutions presently has a consensus rating of “Buy” and a consensus price target of $46.18.
In other Skyworks Solutions news, Director David Mclachlan sold 2,000 shares of Skyworks Solutions stock on the open market in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $40.90, for a total transaction of $81,800.00. Following the sale, the director now directly owns 59,765 shares in the company, valued at approximately $2,444,389. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Skyworks Solutions (NASDAQ:SWKS) traded up 1.54% on Wednesday, hitting $46.355. 1,982,888 shares of the company’s stock traded hands. Skyworks Solutions has a 52-week low of $20.62 and a 52-week 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 $8.789 billion and a P/E ratio of 27.16. Skyworks Solutions also was the target of a significant drop in short interest in the month of 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. Based on an average daily volume of 2,819,274 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.1% of the company’s stock are short sold.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Analysts expect that Skyworks Solutions will post $2.89 EPS for the current fiscal year.
Skyworks Solutions, Inc (NASDAQ:SWKS) is a producer of analog semiconductors.
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