Skyworks Solutions, Inc. (NASDAQ:SWKS) had its target price lifted by equities researchers at Bank of America Corporation from $115.00 to $120.00 in a research report issued on Friday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Bank of America Corporation’s price target indicates a potential upside of 11.66% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Barclays PLC reiterated an “overweight” rating on shares of Skyworks Solutions in a research report on Friday. Cowen and Company reiterated a “market perform” rating and set a $110.00 price objective on shares of Skyworks Solutions in a research report on Friday. Craig Hallum boosted their price target on shares of Skyworks Solutions from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday. Mizuho boosted their price target on shares of Skyworks Solutions from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday. Finally, Vetr upgraded shares of Skyworks Solutions from a “buy” rating to a “strong-buy” rating and set a $116.28 price target on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $105.13.

Skyworks Solutions (NASDAQ SWKS) traded down 0.16% during midday trading on Friday, hitting $107.47. The stock had a trading volume of 3,844,869 shares. Skyworks Solutions has a one year low of $62.40 and a one year high of $112.11. The stock has a market cap of $19.83 billion, a PE ratio of 22.15 and a beta of 0.81. The firm has a 50 day moving average price of $102.89 and a 200 day moving average price of $97.40.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.05. Skyworks Solutions had a net margin of 27.27% and a return on equity of 28.00%. The firm had revenue of $900.80 million for the quarter, compared to analysts’ expectations of $890.58 million. During the same period in the previous year, the company posted $1.24 EPS. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. Equities analysts expect that Skyworks Solutions will post $6.32 EPS for the current year.

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In other news, Director Christine King sold 3,500 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $108.84, for a total transaction of $380,940.00. Following the completion of the transaction, the director now owns 16,436 shares of the company’s stock, valued at $1,788,894.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Liam Griffin sold 18,250 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $101.88, for a total transaction of $1,859,310.00. Following the transaction, the insider now directly owns 64,466 shares of the company’s stock, valued at approximately $6,567,796.08. The disclosure for this sale can be found here. Insiders have sold 93,458 shares of company stock valued at $9,512,091 in the last ninety days. 0.49% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors raised its position in shares of Skyworks Solutions by 18.9% in the second quarter. Capital Research Global Investors now owns 23,273,661 shares of the semiconductor manufacturer’s stock worth $1,472,757,000 after buying an additional 3,692,877 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Skyworks Solutions by 2.7% in the first quarter. Vanguard Group Inc. now owns 17,823,006 shares of the semiconductor manufacturer’s stock worth $1,746,298,000 after buying an additional 466,480 shares in the last quarter. BlackRock Inc. raised its position in shares of Skyworks Solutions by 3,071.2% in the first quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock worth $1,181,019,000 after buying an additional 11,673,555 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Skyworks Solutions by 25.0% in the fourth quarter. Ameriprise Financial Inc. now owns 9,768,802 shares of the semiconductor manufacturer’s stock worth $750,176,000 after buying an additional 1,953,913 shares in the last quarter. Finally, State Street Corp raised its position in shares of Skyworks Solutions by 0.5% in the first quarter. State Street Corp now owns 7,739,120 shares of the semiconductor manufacturer’s stock worth $758,285,000 after buying an additional 38,898 shares in the last quarter. 81.27% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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