Skyworks Solutions, Inc. (SWKS) Stock Rating Upgraded by Vetr Inc.
Skyworks Solutions, Inc. (NASDAQ:SWKS) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Monday. The firm currently has a $113.85 target price on the semiconductor manufacturer’s stock. Vetr‘s price objective suggests a potential upside of 12.71% from the stock’s current price.
A number of other equities analysts have also recently weighed in on SWKS. B. Riley reissued a “buy” rating and issued a $120.00 price target on shares of Skyworks Solutions in a report on Wednesday, May 3rd. BidaskClub raised Skyworks Solutions from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research raised Skyworks Solutions from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research report on Monday. Northland Securities reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Skyworks Solutions in a research report on Friday, August 4th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Skyworks Solutions in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. Skyworks Solutions has a consensus rating of “Buy” and a consensus target price of $110.15.
Shares of Skyworks Solutions (SWKS) traded down 1.17% during mid-day trading on Monday, hitting $101.01. The company had a trading volume of 1,365,581 shares. The firm has a market capitalization of $18.56 billion, a P/E ratio of 19.39 and a beta of 0.82. The firm has a 50-day moving average price of $103.40 and a 200 day moving average price of $100.77. Skyworks Solutions has a 12 month low of $65.76 and a 12 month high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.05. Skyworks Solutions had a return on equity of 28.67% and a net margin of 27.86%. The company had revenue of $900.80 million during the quarter, compared to analysts’ expectations of $890.58 million. During the same period in the previous year, the firm posted $1.24 earnings per share. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, equities research analysts forecast that Skyworks Solutions will post $6.39 earnings per share for the current fiscal year.
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In related news, Director Christine King sold 3,500 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was 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 $1,788,894.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Liam Griffin sold 8,056 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $105.31, for a total value of $848,377.36. Following the completion of the transaction, the insider now owns 54,310 shares in the company, valued at approximately $5,719,386.10. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invictus RG acquired a new position in Skyworks Solutions during the first quarter valued at approximately $101,000. Winslow Evans & Crocker Inc. boosted its position in Skyworks Solutions by 3.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,085 shares of the semiconductor manufacturer’s stock valued at $104,000 after buying an additional 35 shares during the period. WFG Advisors LP boosted 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 valued at $113,000 after buying an additional 181 shares during the period. Sun Life Financial INC boosted its position in Skyworks Solutions by 551.5% in the second quarter. Sun Life Financial INC now owns 1,342 shares of the semiconductor manufacturer’s stock valued at $129,000 after buying an additional 1,136 shares during the period. Finally, TrimTabs Asset Management LLC boosted 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 valued at $138,000 after buying an additional 664 shares during the period. Institutional investors and hedge funds own 81.26% 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.
To view Vetr’s full report, visit Vetr’s official website.
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