Vetr Inc. Downgrades Skyworks Solutions Inc. (SWKS) to Sell
Skyworks Solutions Inc. (NASDAQ:SWKS) was downgraded by stock analysts at Vetr from a “hold” rating to a “sell” rating in a report issued on Monday. They currently have a $76.75 price target on the semiconductor manufacturer’s stock. Vetr‘s price objective would indicate a potential downside of 3.30% from the company’s previous close.
A number of other equities analysts have also weighed in on the company. B. Riley reaffirmed a “buy” rating and issued a $93.00 price objective on shares of Skyworks Solutions in a research note on Monday, July 25th. BMO Capital Markets reaffirmed a “hold” rating and issued a $65.00 price objective on shares of Skyworks Solutions in a research note on Friday, July 22nd. Pacific Crest reaffirmed an “equal weight” rating and issued a $70.00 price objective on shares of Skyworks Solutions in a research note on Monday, July 25th. Zacks Investment Research raised Skyworks Solutions from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Brean Capital reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Skyworks Solutions in a research note on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. Skyworks Solutions has an average rating of “Buy” and an average price target of $82.91.
Skyworks Solutions (NASDAQ:SWKS) opened at 79.37 on Monday. The firm has a 50-day moving average price of $74.30 and a 200-day moving average price of $69.57. The stock has a market capitalization of $14.88 billion, a PE ratio of 15.72 and a beta of 1.06. Skyworks Solutions has a 52 week low of $54.50 and a 52 week high of $88.52.
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Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. Skyworks Solutions had a return on equity of 29.31% and a net margin of 29.32%. The business earned $751.70 million during the quarter, compared to analyst estimates of $750.22 million. Equities research analysts predict that Skyworks Solutions will post $5.53 EPS for the current fiscal year.
In other Skyworks Solutions news, EVP Bruce J. Freyman sold 3,221 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $75.00, for a total transaction of $241,575.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy R. Furey sold 5,000 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $74.87, for a total value of $374,350.00. Following the sale, the director now directly owns 34,947 shares in the company, valued at approximately $2,616,481.89. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SWKS. Aperio Group LLC boosted its stake in shares of Skyworks Solutions by 42.9% in the first quarter. Aperio Group LLC now owns 41,341 shares of the semiconductor manufacturer’s stock valued at $3,220,000 after buying an additional 12,403 shares during the period. Teachers Advisors Inc. boosted its stake in Skyworks Solutions by 5.1% in the first quarter. Teachers Advisors Inc. now owns 345,301 shares of the semiconductor manufacturer’s stock worth $26,899,000 after buying an additional 16,624 shares during the last quarter. Sentry Investment Management LLC boosted its stake in Skyworks Solutions by 3.5% in the first quarter. Sentry Investment Management LLC now owns 14,661 shares of the semiconductor manufacturer’s stock worth $1,142,000 after buying an additional 502 shares during the last quarter. JPMorgan Chase & Co. boosted 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 during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Skyworks Solutions during the first quarter worth $211,000. 76.66% of the stock is currently owned by institutional investors and hedge funds.
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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