Skyworks Solutions Inc. (SWKS) Rating Increased to Hold at Vetr Inc.
Skyworks Solutions Inc. (NASDAQ:SWKS) was upgraded by equities research analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued on Tuesday. The brokerage currently has a $80.30 price target on the semiconductor manufacturer’s stock. Vetr‘s target price would suggest a potential upside of 1.11% from the company’s previous close.
Other analysts have also issued research reports about the stock. Brean Capital reiterated a “buy” rating and issued a $80.00 target price on shares of Skyworks Solutions in a research note on Monday, July 18th. Drexel Hamilton reiterated a “buy” rating on shares of Skyworks Solutions in a research note on Wednesday, July 6th. B. Riley lowered shares of Skyworks Solutions to a “buy” rating in a research note on Monday, June 13th. Needham & Company LLC reiterated a “buy” rating and issued a $73.00 target price on shares of Skyworks Solutions in a research note on Monday, July 25th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $92.00 target price on shares of Skyworks Solutions in a research note on Friday, September 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $83.05.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded down 0.90% during mid-day trading on Tuesday, reaching $79.43. 5,012,654 shares of the company’s stock traded hands. The firm has a 50-day moving average of $74.72 and a 200 day moving average of $69.56. Skyworks Solutions has a 12-month low of $54.50 and a 12-month high of $88.52. The company has a market cap of $14.89 billion, a P/E ratio of 15.73 and a beta of 1.06.
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Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.03. Skyworks Solutions had a net margin of 29.32% and a return on equity of 29.31%. The firm earned $751.70 million during the quarter, compared to analyst estimates of $750.22 million. Equities analysts forecast that Skyworks Solutions will post $5.53 EPS for the current year.
In other news, VP Mark V. B. Tremallo sold 17,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $76.40, for a total value of $1,306,440.00. Following the transaction, the vice president now owns 14,998 shares in the company, valued at $1,145,847.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bruce J. Freyman sold 3,221 shares of the firm’s stock in a transaction that occurred on 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 and other institutional investors have recently modified their holdings of SWKS. Fuller & Thaler Asset Management Inc. boosted its position in shares of Skyworks Solutions by 260.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the semiconductor manufacturer’s stock valued at $114,000 after buying an additional 1,300 shares in the last quarter. Bellwether Investment Group LLC purchased a new position in shares of Skyworks Solutions during the second quarter valued at about $125,000. Synovus Financial Corp boosted its position in shares of Skyworks Solutions by 16.0% in the second quarter. Synovus Financial Corp now owns 2,282 shares of the semiconductor manufacturer’s stock valued at $143,000 after buying an additional 315 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Skyworks Solutions during the first quarter valued at about $182,000. Finally, Checchi Capital Advisers LLC boosted its position in shares of Skyworks Solutions by 39.7% in the second quarter. Checchi Capital Advisers LLC now owns 2,369 shares of the semiconductor manufacturer’s stock valued at $150,000 after buying an additional 673 shares in the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.
Skyworks Solutions Company Profile
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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