Vetr Inc. Lowers Skyworks Solutions Inc. (SWKS) to Hold
Skyworks Solutions Inc. (NASDAQ:SWKS) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Monday. They currently have a $78.02 price target on the semiconductor manufacturer’s stock. Vetr‘s target price points to a potential downside of 1.70% from the stock’s previous close.
SWKS has been the topic of a number of other research reports. Pacific Crest restated an “overweight” rating and issued a $90.00 target price on shares of Skyworks Solutions in a research note on Tuesday, June 7th. Canaccord Genuity restated a “buy” rating and issued a $92.00 target price on shares of Skyworks Solutions in a research note on Friday, September 23rd. Mizuho restated a “neutral” rating and issued a $68.00 target price on shares of Skyworks Solutions in a research note on Wednesday, August 31st. Morgan Stanley assumed coverage on Skyworks Solutions in a research note on Monday, June 27th. They issued an “underweight” rating and a $61.00 target price on the stock. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $65.00 price objective on shares of Skyworks Solutions in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $82.91.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded up 0.04% during trading on Monday, hitting $79.37. The stock had a trading volume of 2,985,327 shares. The company has a market cap of $14.88 billion, a PE ratio of 15.72 and a beta of 1.06. The firm’s 50 day moving average is $74.30 and its 200 day moving average is $69.57. Skyworks Solutions has a 1-year low of $54.50 and a 1-year high of $88.52.
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Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. Skyworks Solutions had a return on equity of 29.31% and a net margin of 29.32%. The firm had revenue of $751.70 million for the quarter, compared to the consensus estimate of $750.22 million. Equities research analysts anticipate that Skyworks Solutions will post $5.53 EPS for the current fiscal year.
In other news, Director Timothy R. Furey sold 5,000 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $74.87, for a total transaction of $374,350.00. Following the completion of the sale, the director now directly owns 34,947 shares in the company, valued at $2,616,481.89. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Bruce J. Freyman sold 3,221 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $75.00, for a total transaction of $241,575.00. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. PGGM Investments raised its stake in Skyworks Solutions by 116.7% in the second quarter. PGGM Investments now owns 576,392 shares of the semiconductor manufacturer’s stock worth $36,474,000 after buying an additional 310,401 shares in the last quarter. Shell Asset Management Co. raised its stake in Skyworks Solutions by 67.5% in the second quarter. Shell Asset Management Co. now owns 22,867 shares of the semiconductor manufacturer’s stock worth $1,447,000 after buying an additional 9,213 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Skyworks Solutions by 568.4% in the first quarter. JPMorgan Chase & Co. now owns 849,066 shares of the semiconductor manufacturer’s stock worth $66,142,000 after buying an additional 1,030,325 shares in the last quarter. Southpoint Capital Advisors LP purchased a new stake in Skyworks Solutions during the first quarter worth $27,265,000. Finally, Tower Research Capital LLC TRC raised its stake in Skyworks Solutions by 2,079.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,237 shares of the semiconductor manufacturer’s stock worth $458,000 after buying an additional 6,905 shares in the last quarter. Institutional investors own 76.66% of the company’s stock.
About Skyworks Solutions
Skyworks Solutions Inc is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Company’s portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics.
To view Vetr’s full report, visit Vetr’s official website.
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