MKM Partners Reiterates Buy Rating for Skyworks Solutions, Inc. (SWKS)
Skyworks Solutions, Inc. (NASDAQ:SWKS)‘s stock had its “buy” rating restated by MKM Partners in a research note issued to investors on Wednesday. They presently have a $115.00 price objective on the semiconductor manufacturer’s stock. MKM Partners’ price target would suggest a potential upside of 8.09% from the company’s previous close.
SWKS has been the subject of several other reports. Craig Hallum raised their target price on shares of Skyworks Solutions from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Vetr cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $110.24 price target on the stock. in a report on Wednesday, June 7th. Canaccord Genuity reissued a “buy” rating and issued a $117.00 price target (up from $115.00) on shares of Skyworks Solutions in a report on Saturday. Barclays PLC increased their price target on shares of Skyworks Solutions from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, April 18th. Finally, B. Riley reissued a “buy” rating and issued a $130.00 price target on shares of Skyworks Solutions in a report on Saturday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the stock. Skyworks Solutions currently has an average rating of “Buy” and a consensus price target of $108.09.
Skyworks Solutions (NASDAQ:SWKS) traded up 0.43% during trading on Wednesday, hitting $106.85. The stock had a trading volume of 715,840 shares. The company has a market capitalization of $19.68 billion, a price-to-earnings ratio of 20.51 and a beta of 0.81. The stock has a 50 day moving average price of $102.81 and a 200 day moving average price of $98.03. Skyworks Solutions has a 12-month low of $62.40 and a 12-month high of $112.11. Skyworks Solutions also was the target of some unusual options trading activity on Monday. Stock investors purchased 12,219 put options on the stock. This represents an increase of 535% compared to the typical volume of 1,923 put options.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.05. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The business had revenue of $900.80 million during the quarter, compared to the consensus estimate of $890.58 million. During the same period last year, the business posted $1.24 EPS. Skyworks Solutions’s revenue was up 19.8% on a year-over-year basis. Equities research analysts forecast that Skyworks Solutions will post $6.38 earnings per share for the current year.
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In other Skyworks Solutions news, Director Christine King sold 3,500 shares of the business’s 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 directly owns 16,436 shares in the company, valued at $1,788,894.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Liam Griffin sold 21,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 74,782 shares in the company, valued at $7,496,895.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,458 shares of company stock worth $9,512,091. 0.49% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Winslow Evans & Crocker Inc. boosted its stake in shares of 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 during the last quarter. Orrstown Financial Services Inc. boosted its stake in shares of Skyworks Solutions by 2.0% in the first quarter. Orrstown Financial Services Inc. now owns 18,789 shares of the semiconductor manufacturer’s stock worth $1,841,000 after buying an additional 375 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Skyworks Solutions by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 56,653 shares of the semiconductor manufacturer’s stock worth $5,550,000 after buying an additional 700 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Skyworks Solutions during the first quarter worth approximately $6,378,000. Finally, Fulton Bank N.A. boosted its stake in shares of Skyworks Solutions by 9.7% in the first quarter. Fulton Bank N.A. now owns 19,568 shares of the semiconductor manufacturer’s stock worth $1,917,000 after buying an additional 1,726 shares during the last quarter. Institutional investors own 81.24% 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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