Vetr Inc. Downgrades Skyworks Solutions Inc (SWKS) to Buy
Skyworks Solutions Inc (NASDAQ:SWKS) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday. They presently have a $112.92 price objective on the semiconductor manufacturer’s stock. Vetr‘s price objective would indicate a potential upside of 11.11% from the company’s current price.
A number of other research analysts have also recently commented on the stock. Barclays PLC boosted their target price on shares of Skyworks Solutions to $144.00 in a research report on Monday, March 13th. Charter Equity reissued a “buy” rating on shares of Skyworks Solutions in a research report on Monday, March 20th. Craig Hallum boosted their target price on shares of Skyworks Solutions from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, April 4th. Zacks Investment Research cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $105.00 target price (up from $100.00) on shares of Skyworks Solutions in a research report on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Skyworks Solutions presently has a consensus rating of “Buy” and an average price target of $96.21.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded up 2.41% during trading on Thursday, hitting $101.63. 1,900,532 shares of the stock traded hands. The firm has a market cap of $18.79 billion, a PE ratio of 21.50 and a beta of 0.88. Skyworks Solutions has a 52-week low of $57.11 and a 52-week high of $102.64. The company’s 50 day moving average is $98.01 and its 200 day moving average is $85.52.
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In other news, insider Peter L. Gammel sold 1,500 shares of the company’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $97.92, for a total transaction of $146,880.00. Following the completion of the transaction, the insider now owns 17,605 shares in the company, valued at $1,723,881.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Liam Griffin sold 31,250 shares of the company’s stock in a transaction dated Friday, January 20th. The stock was sold at an average price of $85.00, for a total transaction of $2,656,250.00. Following the transaction, the insider now owns 68,782 shares of the company’s stock, valued at approximately $5,846,470. The disclosure for this sale can be found here. Insiders have sold 91,200 shares of company stock valued at $8,137,314 in the last 90 days. Insiders own 0.62% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Skyworks Solutions by 5.4% in the fourth quarter. State Street Corp now owns 7,700,222 shares of the semiconductor manufacturer’s stock valued at $574,898,000 after buying an additional 395,998 shares in the last quarter. Lazard Asset Management LLC raised its position in Skyworks Solutions by 21.2% in the third quarter. Lazard Asset Management LLC now owns 6,522,708 shares of the semiconductor manufacturer’s stock valued at $496,638,000 after buying an additional 1,141,188 shares in the last quarter. FMR LLC raised its position in Skyworks Solutions by 3.7% in the fourth quarter. FMR LLC now owns 5,309,840 shares of the semiconductor manufacturer’s stock valued at $396,433,000 after buying an additional 187,834 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Skyworks Solutions during the third quarter valued at approximately $278,774,000. Finally, Northern Trust Corp raised its position in Skyworks Solutions by 1.8% in the third quarter. Northern Trust Corp now owns 2,171,761 shares of the semiconductor manufacturer’s stock valued at $165,359,000 after buying an additional 37,535 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.
About Skyworks Solutions
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
To view Vetr’s full report, visit Vetr’s official website.
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