Zacks Investment Research Lowers Skyworks Solutions, Inc. (SWKS) to Hold
Skyworks Solutions, Inc. (NASDAQ:SWKS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 recent launch of iPhone 8 and upcoming iPhone X are key catalysts for the company. However, heavy investments in research & product development and escalating operating expenses are affecting margins, which is a concern. Moreover, slow growth rate of the smartphone market and piled up inventories with Chinese smartphone providers are headwinds.”
Other equities research analysts have also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Skyworks Solutions in a research report on Monday, July 17th. BidaskClub raised shares of Skyworks Solutions from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Barclays PLC reaffirmed an “overweight” rating on shares of Skyworks Solutions in a research report on Friday, July 21st. Vetr cut shares of Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $116.12 price objective on the stock. in a research report on Monday, July 17th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $110.00 price objective on shares of Skyworks Solutions in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Skyworks Solutions currently has a consensus rating of “Buy” and an average price target of $111.82.
Skyworks Solutions (NASDAQ:SWKS) traded down 1.47% during trading on Wednesday, hitting $106.34. 242,610 shares of the stock were exchanged. The stock has a 50 day moving average price of $104.54 and a 200-day moving average price of $102.42. The firm has a market capitalization of $19.54 billion, a PE ratio of 20.41 and a beta of 0.81. Skyworks Solutions has a 12-month low of $71.65 and a 12-month high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 EPS for the quarter, beating the consensus estimate of $1.52 by $0.05. The business had revenue of $900.80 million for the quarter, compared to analysts’ expectations of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. On average, equities research analysts anticipate 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 3,705 shares of the stock in a transaction that occurred on 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 owns 16,641 shares of the company’s stock, valued at approximately $1,777,591.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Liam Griffin sold 8,056 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $105.31, for a total transaction of $848,377.36. Following the completion of the transaction, the insider now directly owns 54,310 shares of the company’s stock, valued at approximately $5,719,386.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,371 shares of company stock valued at $1,505,093. 0.49% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Meag Munich Ergo Kapitalanlagegesellschaft bought a new position in Skyworks Solutions in the 3rd quarter valued at approximately $6,174,000. American Century Companies Inc. lifted its stake in Skyworks Solutions by 18.1% in the 4th quarter. American Century Companies Inc. now owns 621,603 shares of the semiconductor manufacturer’s stock valued at $47,758,000 after purchasing an additional 95,273 shares during the last quarter. Chelsea Counsel Company lifted its stake in Skyworks Solutions by 12.5% in the 3rd quarter. Chelsea Counsel Company now owns 4,500 shares of the semiconductor manufacturer’s stock valued at $379,000 after purchasing an additional 500 shares during the last quarter. First Western Capital Management Co lifted its stake in Skyworks Solutions by 1.6% in the 4th quarter. First Western Capital Management Co now owns 34,683 shares of the semiconductor manufacturer’s stock valued at $2,665,000 after purchasing an additional 535 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in Skyworks Solutions by 8.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 72,510 shares of the semiconductor manufacturer’s stock valued at $5,520,000 after purchasing an additional 5,579 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.
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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