Skyworks Solutions, Inc. (SWKS) Receives “Overweight” Rating from KeyCorp
Skyworks Solutions, Inc. (NASDAQ:SWKS)‘s stock had its “overweight” rating restated by equities research analysts at KeyCorp in a note issued to investors on Thursday.
A number of other equities research analysts have also commented on SWKS. Vetr upgraded Skyworks Solutions from a “buy” rating to a “strong-buy” rating and set a $116.14 price objective for the company in a research report on Wednesday, May 17th. ValuEngine lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Raymond James Financial, Inc. restated an “outperform” rating and set a $120.00 price objective on shares of Skyworks Solutions in a research report on Friday, June 16th. Pacific Crest restated an “overweight” rating and set a $120.00 price objective on shares of Skyworks Solutions in a research report on Wednesday, June 21st. Finally, BidaskClub lowered Skyworks Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. One equities research 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 stock. Skyworks Solutions presently has an average rating of “Buy” and a consensus target price of $111.83.
Skyworks Solutions (SWKS) traded up 0.7371% during mid-day trading on Thursday, reaching $107.5870. 542,649 shares of the company were exchanged. Skyworks Solutions has a 12 month low of $69.51 and a 12 month high of $112.11. The stock’s 50-day moving average is $104.32 and its 200-day moving average is $101.97. The company has a market cap of $19.77 billion, a P/E ratio of 20.6501 and a beta of 0.81.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 EPS 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 firm had revenue of $900.80 million during the quarter, compared to analyst estimates of $890.58 million. During the same period last year, the company posted $1.24 EPS. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. Equities analysts expect that Skyworks Solutions will post $6.39 earnings per share for the current year.
In other news, Director Christine King sold 3,705 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $106.82, for a total transaction of $395,768.10. Following the sale, the director now directly owns 16,641 shares in the company, valued at $1,777,591.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Liam Griffin sold 8,056 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $105.31, for a total value of $848,377.36. Following the sale, the insider now owns 54,310 shares in the company, valued at $5,719,386.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,371 shares of company stock worth $1,505,093. Company insiders own 0.49% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SWKS. BlackRock Inc. increased its position in shares of Skyworks Solutions by 3,071.2% during the first quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock valued at $1,181,019,000 after purchasing an additional 11,673,555 shares during the period. Winslow Capital Management LLC bought a new stake in shares of Skyworks Solutions during the first quarter valued at approximately $205,388,000. Voya Investment Management LLC increased its position in shares of Skyworks Solutions by 953.8% during the second quarter. Voya Investment Management LLC now owns 1,290,395 shares of the semiconductor manufacturer’s stock valued at $123,813,000 after purchasing an additional 1,167,942 shares during the period. Old Mutual Global Investors UK Ltd. increased its position in shares of Skyworks Solutions by 587.3% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,305,942 shares of the semiconductor manufacturer’s stock valued at $125,305,000 after purchasing an additional 1,115,938 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Skyworks Solutions by 138.9% during the first quarter. AQR Capital Management LLC now owns 1,406,274 shares of the semiconductor manufacturer’s stock valued at $137,787,000 after purchasing an additional 817,721 shares during the period. Institutional investors and hedge funds own 80.86% 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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