Skyworks Solutions, Inc. (SWKS) Lifted to Buy at Zacks Investment Research
Skyworks Solutions, Inc. (NASDAQ:SWKS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $117.00 price objective on the semiconductor manufacturer’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.81% from the company’s previous close.
According to Zacks, “Skyworks has outperformed the industry on a year-to-date basis. The company is gaining from strong demand for its Wi-Fi, Zigbee and LTE solutions. Further, strategic design wins in IoT, automotive and 5G markets are significant positives for the company in the long haul. The upcoming launch of iPhone 8 is a key catalyst for the company. However, heavy investments in R&D and escalating operating expenses are affecting margins, which is a headwind.”
Other equities analysts also recently issued research reports about the company. B. Riley reiterated a “buy” rating and issued a $120.00 price objective on shares of Skyworks Solutions in a research report on Monday, July 17th. BidaskClub upgraded Skyworks Solutions from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Vetr downgraded Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $116.12 price objective for the company. in a research report on Monday, July 17th. 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, July 21st. Finally, Barclays PLC reiterated an “overweight” rating on shares of Skyworks Solutions in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $111.83.
Skyworks Solutions (SWKS) traded up 2.50% during midday trading on Monday, hitting $107.26. The company had a trading volume of 631,812 shares. The company has a market cap of $19.71 billion, a P/E ratio of 20.59 and a beta of 0.81. The company’s 50 day moving average is $104.21 and its 200-day moving average is $101.79. Skyworks Solutions has a one year low of $65.76 and a one year 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 the Thomson Reuters’ 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 firm had revenue of $900.80 million during the quarter, compared to the consensus estimate of $890.58 million. During the same quarter in the previous year, the company posted $1.24 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, equities analysts predict that Skyworks Solutions will post $6.39 EPS for the current year.
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In other news, insider Liam Griffin sold 2,610 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $99.98, for a total transaction of $260,947.80. Following the completion of the transaction, the insider now directly owns 50,408 shares of the company’s stock, valued at $5,039,791.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine King sold 3,705 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $106.82, for a total value of $395,768.10. Following the transaction, the director now directly owns 16,641 shares of the company’s stock, valued at $1,777,591.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,371 shares of company stock valued at $1,505,093. Insiders own 0.49% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Invictus RG acquired a new position in shares of Skyworks Solutions during the first quarter worth about $101,000. Winslow Evans & Crocker Inc. raised its holdings in Skyworks Solutions by 3.3% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,085 shares of the semiconductor manufacturer’s stock worth $104,000 after acquiring an additional 35 shares in the last quarter. WFG Advisors LP raised its holdings in Skyworks Solutions by 18.6% during the first quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock worth $113,000 after acquiring an additional 181 shares in the last quarter. Sun Life Financial INC raised its holdings in Skyworks Solutions by 551.5% during the second quarter. Sun Life Financial INC now owns 1,342 shares of the semiconductor manufacturer’s stock worth $129,000 after acquiring an additional 1,136 shares in the last quarter. Finally, TrimTabs Asset Management LLC raised its holdings in Skyworks Solutions by 89.0% during the first quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $138,000 after acquiring an additional 664 shares in the last quarter. 80.86% of the stock is owned by institutional investors.
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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