Skyworks Solutions, Inc. (SWKS) Given Buy Rating at Needham & Company LLC
Skyworks Solutions, Inc. (NASDAQ:SWKS)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Sunday. They currently have a $110.00 target price on the semiconductor manufacturer’s stock. Needham & Company LLC’s target price points to a potential upside of 0.41% from the company’s current price.
A number of other research analysts have also weighed in on the stock. Vetr raised shares of Skyworks Solutions from a “buy” rating to a “strong-buy” rating and set a $114.47 target price for the company in a report on Tuesday, August 29th. Zacks Investment Research raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research note on Monday, August 28th. Citigroup Inc. raised shares of Skyworks Solutions from a “sell” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Tuesday, September 5th. ValuEngine lowered shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $100.00 price objective on shares of Skyworks Solutions in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $111.90.
Shares of Skyworks Solutions (SWKS) opened at 109.55 on Friday. The company’s 50-day moving average is $104.40 and its 200-day moving average is $102.14. Skyworks Solutions has a 12-month low of $71.65 and a 12-month high of $112.11. The company has a market capitalization of $20.13 billion, a price-to-earnings ratio of 21.03 and a beta of 0.81.
Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.05. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. 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 firm posted $1.24 earnings per share. Skyworks Solutions’s revenue for the quarter was up 19.8% compared to the same quarter last year. Analysts predict that Skyworks Solutions will post $6.39 EPS for the current year.
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In other Skyworks Solutions news, Director Christine King sold 3,705 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total value of $395,768.10. Following the completion of the transaction, the director now directly owns 16,641 shares in the company, valued at $1,777,591.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Liam Griffin sold 2,610 shares of the business’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 owns 50,408 shares of the company’s stock, valued at $5,039,791.84. The disclosure for this sale can be found here. Insiders sold 14,371 shares of company stock valued at $1,505,093 over the last quarter. 0.49% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in SWKS. Invictus RG bought a new position in Skyworks Solutions in the first quarter worth about $101,000. Winslow Evans & Crocker Inc. raised its holdings 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 worth $104,000 after purchasing an additional 35 shares in the last quarter. WFG Advisors LP raised its holdings in Skyworks Solutions by 18.6% in the first quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock worth $113,000 after purchasing an additional 181 shares in the last quarter. Sun Life Financial INC raised its holdings 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 worth $129,000 after purchasing an additional 1,136 shares in the last quarter. Finally, TrimTabs Asset Management LLC raised its holdings 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 worth $138,000 after purchasing an additional 664 shares in the last quarter. 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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