Insider Selling: Skyworks Solutions CFO Sells 49,000 Shares of Stock (SWKS)
Skyworks Solutions (NASDAQ:SWKS) CFO Donald W. Palette sold 49,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $46.56, for a total value of $2,281,440.00. Following the completion of the sale, the chief financial officer now directly owns 30,667 shares in the company, valued at approximately $1,427,856. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on SWKS shares. Analysts at Needham & Company LLC raised their price target on shares of Skyworks Solutions from $46.00 to $50.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of Skyworks Solutions in a research note on Wednesday. They now have a $55.00 price target on the stock, up previously from $50.00. Finally, analysts at Craig Hallum raised their price target on shares of Skyworks Solutions to $56.00 in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Skyworks Solutions presently has an average rating of “Buy” and a consensus price target of $46.41.
Skyworks Solutions (NASDAQ:SWKS) traded up 0.71% on Friday, hitting $46.81. The stock had a trading volume of 2,775,590 shares. Skyworks Solutions has a 1-year low of $20.62 and a 1-year high of $46.97. The stock’s 50-day moving average is $41.81 and its 200-day moving average is $34.23. The company has a market cap of $8.875 billion and a price-to-earnings ratio of 27.65. Skyworks Solutions also saw a large decrease in short interest in May. As of May 15th, there was short interest totalling 3,875,632 shares, a decrease 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 short-interest ratio is currently 1.4 days. Approximately 2.1% of the company’s stock are short sold.
Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, April 22nd. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts expect that Skyworks Solutions will post $2.93 EPS for the current fiscal year.
Skyworks Solutions, Inc (NASDAQ:SWKS) is a producer of analog semiconductors.
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