Skyworks Solutions Given New $55.00 Price Target at Canaccord Genuity (SWKS)
Canaccord Genuity increased their price target on shares of Skyworks Solutions (NASDAQ:SWKS) from $51.00 to $55.00 in a research note issued on Friday. Canaccord Genuity’s price target would indicate a potential upside of 18.69% from the company’s current price.
Skyworks Solutions (NASDAQ:SWKS) opened at 46.34 on Friday. Skyworks Solutions has a one year low of $22.24 and a one year high of $49.10. The stock’s 50-day moving average is $46.69 and its 200-day moving average is $38.2. The company has a market cap of $8.786 billion and a P/E ratio of 27.57.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Thursday, July 17th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $80.00 by $79.17. The company had revenue of $587.00 million for the quarter, compared to the consensus estimate of $570.37 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 34.6% on a year-over-year basis. On average, analysts predict that Skyworks Solutions will post $2.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.95%.
Other equities research analysts have also recently issued reports about the stock. Analysts at Craig Hallum raised their price target on shares of Skyworks Solutions to $62.00 in a research note on Friday. Separately, analysts at JMP Securities raised their price target on shares of Skyworks Solutions from $50.00 to $60.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Topeka Capital Markets raised their price target on shares of Skyworks Solutions from $54.00 to $58.00 in a research note on Friday. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $52.83.
Skyworks Solutions, Inc (NASDAQ:SWKS) is a producer of analog 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.