Skyworks Solutions’ (NASDAQ:SWKS) Market Perform Rating Reiterated at Cowen and Company
Skyworks Solutions, Inc. (NASDAQ:SWKS)‘s stock had its “market perform” rating reissued by analysts at Cowen and Company in a report issued on Friday, The Fly reports. They currently have a $110.00 price target on the semiconductor manufacturer’s stock. Cowen and Company’s price objective suggests a potential upside of 2.35% from the company’s current price.
Several other research firms have also recently issued reports on SWKS. Vetr cut Skyworks Solutions from a “buy” rating to a “hold” rating and set a $101.62 price target on the stock. in a report on Tuesday, March 28th. Macquarie began coverage on Skyworks Solutions in a report on Thursday, March 30th. They issued an “outperform” rating and a $110.00 price target on the stock. Pacific Crest upgraded Skyworks Solutions from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a report on Tuesday, April 4th. Craig Hallum raised their price target on Skyworks Solutions from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, April 4th. Finally, Zacks Investment Research upgraded Skyworks Solutions from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Tuesday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $106.74.
Shares of Skyworks Solutions (SWKS) traded down 0.16% during midday trading on Friday, reaching $107.47. 3,844,869 shares of the company’s stock traded hands. The firm has a market capitalization of $19.83 billion, a P/E ratio of 22.15 and a beta of 0.81. Skyworks Solutions has a 52-week low of $62.40 and a 52-week high of $112.11. The stock’s 50 day moving average price is $102.89 and its 200 day moving average price is $97.40.
Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 EPS for the quarter, topping the consensus estimate of $1.52 by $0.05. The company had revenue of $900.80 million for the quarter, compared to analysts’ expectations of $890.58 million. Skyworks Solutions had a return on equity of 29.13% and a net margin of 27.86%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 earnings per share. On average, equities research analysts anticipate that Skyworks Solutions will post $6.32 EPS for the current fiscal year.
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In related news, Director Christine King sold 3,500 shares of Skyworks Solutions stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $108.84, for a total value of $380,940.00. Following the sale, the director now owns 16,436 shares of the company’s stock, valued at approximately $1,788,894.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Liam Griffin sold 21,000 shares of Skyworks Solutions stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $100.25, for a total value of $2,105,250.00. Following the completion of the sale, the insider now directly owns 74,782 shares in the company, valued at approximately $7,496,895.50. The disclosure for this sale can be found here. In the last three months, insiders sold 93,458 shares of company stock worth $9,512,091. 0.49% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Invictus RG bought a new position in Skyworks Solutions during the first quarter worth $101,000. Winslow Evans & Crocker Inc. increased 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 worth $103,000 after buying an additional 50 shares in the last quarter. WFG Advisors LP increased its position in Skyworks Solutions by 18.6% in the first quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock worth $113,000 after buying an additional 181 shares in the last quarter. Tompkins Financial Corp bought a new position in Skyworks Solutions during the first quarter worth $107,000. Finally, TrimTabs Asset Management LLC increased its position in Skyworks Solutions by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $138,000 after buying an additional 664 shares in the last quarter. Hedge funds and other institutional investors own 81.27% of the company’s stock.
Skyworks Solutions Company Profile
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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