Skyworks Solutions, Inc. (NASDAQ:SWKS) Given “Buy” Rating at B. Riley
Skyworks Solutions, Inc. (NASDAQ:SWKS)‘s stock had its “buy” rating restated by equities researchers at B. Riley in a research note issued on Saturday. They currently have a $130.00 price objective on the semiconductor manufacturer’s stock. B. Riley’s price objective suggests a potential upside of 20.96% from the stock’s current price.
A number of other analysts have also commented on SWKS. Barclays PLC reiterated an “overweight” rating on shares of Skyworks Solutions in a research report on Friday. BMO Capital Markets reiterated a “hold” rating and issued a $100.00 price objective on shares of Skyworks Solutions in a research report on Friday. Mizuho lifted their price objective on Skyworks Solutions from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday. Craig Hallum lifted their price objective on Skyworks Solutions from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Cowen and Company reiterated a “market perform” rating and issued a $110.00 price objective on shares of Skyworks Solutions in a research report on Friday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $106.66.
Shares of Skyworks Solutions (NASDAQ SWKS) traded down 0.16% during midday trading on Friday, reaching $107.47. 3,844,869 shares of the company’s stock were exchanged. Skyworks Solutions has a 1-year low of $62.40 and a 1-year high of $112.11. The company has a market capitalization of $19.83 billion, a PE ratio of 22.15 and a beta of 0.81. The firm has a 50-day moving average of $102.89 and a 200-day moving average of $97.40.
Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.05. Skyworks Solutions had a return on equity of 29.13% and a net margin of 27.86%. The company had revenue of $900.80 million during the quarter, compared to analyst estimates of $890.58 million. During the same period last year, the company posted $1.24 earnings per share. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. Equities analysts expect that Skyworks Solutions will post $6.32 earnings per share for the current fiscal year.
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In other news, VP Robert John Terry sold 3,233 shares of Skyworks Solutions stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $100.26, for a total transaction of $324,140.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christine King sold 3,500 shares of Skyworks Solutions stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $108.84, for a total value of $380,940.00. Following the transaction, the director now owns 16,436 shares in the company, valued at approximately $1,788,894.24. The disclosure for this sale can be found here. Insiders have sold a total of 93,458 shares of company stock worth $9,512,091 in the last quarter. 0.49% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BKS Advisors LLC acquired a new position in Skyworks Solutions during the third quarter valued at $101,000. Invictus RG acquired a new position in Skyworks Solutions during the first quarter valued at $101,000. Investment Counselors of Maryland LLC acquired a new position in Skyworks Solutions during the third quarter valued at $102,000. Canada Pension Plan Investment Board boosted its position in Skyworks Solutions by 1,084.1% in the third quarter. Canada Pension Plan Investment Board now owns 1,338 shares of the semiconductor manufacturer’s stock valued at $102,000 after buying an additional 1,225 shares during the period. Finally, Winslow Evans & Crocker Inc. boosted its position in Skyworks Solutions by 5.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the semiconductor manufacturer’s stock valued at $103,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 81.27% 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.
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