Skyworks Solutions Inc. (SWKS) Upgraded to Buy by Vetr Inc.
Skyworks Solutions Inc. (NASDAQ:SWKS) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $81.34 target price on the semiconductor manufacturer’s stock. Vetr‘s price target would indicate a potential upside of 6.05% from the stock’s previous close.
Several other research firms have also issued reports on SWKS. Pacific Crest reissued an “equal weight” rating on shares of Skyworks Solutions in a research note on Thursday, September 15th. Zacks Investment Research upgraded Skyworks Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Brean Capital restated a “buy” rating and set a $80.00 price target on shares of Skyworks Solutions in a research report on Monday, July 18th. Drexel Hamilton restated a “buy” rating on shares of Skyworks Solutions in a research report on Wednesday, July 6th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $100.00 price target on shares of Skyworks Solutions in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $83.09.
Skyworks Solutions (NASDAQ:SWKS) traded down 1.20% during midday trading on Monday, hitting $76.70. The company’s stock had a trading volume of 1,726,865 shares. Skyworks Solutions has a 52-week low of $54.50 and a 52-week high of $88.52. The stock has a 50 day moving average of $75.13 and a 200 day moving average of $69.57. The company has a market cap of $14.38 billion, a PE ratio of 15.19 and a beta of 1.06.
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Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data 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. The company earned $751.70 million during the quarter, compared to analyst estimates of $750.22 million. Skyworks Solutions had a return on equity of 29.31% and a net margin of 29.32%. On average, equities analysts expect that Skyworks Solutions will post $5.53 EPS for the current year.
In related news, EVP Bruce J. Freyman sold 3,221 shares of the company’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 value of $241,575.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Laura A. Gasparini sold 2,650 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $74.84, for a total value of $198,326.00. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. raised its stake 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 worth $114,000 after buying an additional 1,300 shares in the last quarter. Bellwether Investment Group LLC bought a new stake in shares of Skyworks Solutions during the second quarter worth $125,000. Synovus Financial Corp raised its stake 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 worth $143,000 after buying an additional 315 shares in the last quarter. Checchi Capital Advisers LLC raised its stake 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 worth $150,000 after buying an additional 673 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in shares of Skyworks Solutions by 101.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,585 shares of the semiconductor manufacturer’s stock worth $164,000 after buying an additional 1,302 shares in the last quarter. 76.67% 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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