Skyworks Solutions’ (NASDAQ:SWKS) “Sell” Rating Reiterated at Citigroup Inc.
Skyworks Solutions, Inc. (NASDAQ:SWKS)‘s stock had its “sell” rating restated by research analysts at Citigroup Inc. in a research report issued on Monday. They presently have a $90.00 target price on the semiconductor manufacturer’s stock, up from their prior target price of $84.00. Citigroup Inc.’s price target indicates a potential downside of 14.98% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Monday. Charter Equity reiterated an “outperform” rating on shares of Skyworks Solutions in a report on Saturday. Canaccord Genuity reiterated a “buy” rating and set a $117.00 price objective (up from $115.00) on shares of Skyworks Solutions in a report on Saturday. B. Riley reiterated a “buy” rating and set a $130.00 price objective on shares of Skyworks Solutions in a report on Saturday. Finally, BMO Capital Markets reiterated a “hold” rating and set a $100.00 price objective on shares of Skyworks Solutions in a report on Friday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company’s stock. Skyworks Solutions has a consensus rating of “Buy” and a consensus price target of $107.86.
Skyworks Solutions (NASDAQ SWKS) traded down 1.50% during trading on Monday, hitting $105.86. 3,085,820 shares of the stock were exchanged. The firm’s 50-day moving average is $102.89 and its 200 day moving average is $97.40. The firm has a market cap of $19.50 billion, a PE ratio of 20.32 and a beta of 0.81. Skyworks Solutions has a 52 week low of $62.40 and a 52 week high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.05. The firm had revenue of $900.80 million during the quarter, compared to analysts’ expectations of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The business’s revenue was up 19.8% on a year-over-year basis. During the same period last year, the company earned $1.24 earnings per share. Analysts expect that Skyworks Solutions will post $6.38 earnings per share for the current fiscal year.
In other Skyworks Solutions news, insider Liam Griffin sold 21,000 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $100.25, for a total transaction of $2,105,250.00. Following the completion of the sale, the insider now owns 74,782 shares of the company’s stock, valued at approximately $7,496,895.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christine King sold 3,500 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $108.84, for a total transaction of $380,940.00. Following the sale, the director now directly owns 16,436 shares of the company’s stock, 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 valued at $9,512,091 in the last three months. 0.49% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. APG Asset Management N.V. boosted its stake in shares of Skyworks Solutions by 8.4% in the second quarter. APG Asset Management N.V. now owns 1,038,739 shares of the semiconductor manufacturer’s stock valued at $99,667,000 after buying an additional 80,439 shares during the last quarter. Dubuque Bank & Trust Co. purchased a new stake in shares of Skyworks Solutions during the second quarter valued at $182,000. Oakbrook Investments LLC purchased a new stake in shares of Skyworks Solutions during the second quarter valued at $669,000. US Bancorp DE boosted its stake in shares of Skyworks Solutions by 0.5% in the second quarter. US Bancorp DE now owns 110,943 shares of the semiconductor manufacturer’s stock valued at $10,646,000 after buying an additional 535 shares during the last quarter. Finally, Sheets Smith Wealth Management boosted its stake in shares of Skyworks Solutions by 13.8% in the second quarter. Sheets Smith Wealth Management now owns 22,396 shares of the semiconductor manufacturer’s stock valued at $2,149,000 after buying an additional 2,721 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.
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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