Skyworks Solutions Given New $62.00 Price Target at Canaccord Genuity (SWKS)
Equities researchers at Canaccord Genuity upped their target price on shares of Skyworks Solutions (NASDAQ:SWKS) from $55.00 to $62.00 in a research report issued on Tuesday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price would suggest a potential upside of 18.30% from the stock’s previous close.
A number of other analysts have also recently weighed in on SWKS. Analysts at Pacific Crest reiterated an “outperform” rating on shares of Skyworks Solutions in a research note on Thursday, August 7th. Separately, analysts at Tigress Financial downgraded shares of Skyworks Solutions from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 24th. Finally, analysts at Zacks upgraded shares of Skyworks Solutions from a “neutral” rating to an “outperform” rating in a research note on Friday, July 18th. They now have a $56.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $55.47.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded up 0.56% on Tuesday, hitting $52.41. The stock had a trading volume of 2,215,899 shares. Skyworks Solutions has a 52 week low of $23.27 and a 52 week high of $54.50. The stock has a 50-day moving average of $49.8 and a 200-day moving average of $41.33. The company has a market cap of $9.933 billion and a price-to-earnings ratio of 27.27. Skyworks Solutions also saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 5,423,855 shares, a growth of 73.4% from the July 15th total of 3,127,848 shares. Based on an average trading volume of 5,336,447 shares, the short-interest ratio is presently 1.0 days. Approximately 2.9% of the shares of the company are sold short.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.83 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.54 earnings per share. Skyworks Solutions’s revenue was up 34.6% compared to the same quarter last year. Analysts expect that Skyworks Solutions will post $3.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Tuesday, August 5th.
Skyworks Solutions, Inc (NASDAQ:SWKS) is a producer of analog semiconductors.
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