Skyworks Solutions, Inc. (SWKS) Price Target Raised to $120.00
Skyworks Solutions, Inc. (NASDAQ:SWKS) had its target price raised by Barclays PLC from $110.00 to $120.00 in a research note issued to investors on Wednesday. The brokerage currently has an “overweight” rating on the semiconductor manufacturer’s stock. Barclays PLC’s price objective suggests a potential upside of 11.79% from the stock’s previous close.
SWKS has been the subject of a number of other research reports. Craig Hallum raised their price target on shares of Skyworks Solutions from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Canaccord Genuity restated a “buy” rating and set a $117.00 price target (up previously from $115.00) on shares of Skyworks Solutions in a research note on Saturday, July 22nd. Vetr cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $112.42 price target for the company. in a research note on Monday, September 18th. Northland Securities restated a “buy” rating and set a $115.00 price target on shares of Skyworks Solutions in a research note on Friday, August 4th. Finally, B. Riley restated a “buy” rating and set a $130.00 price target on shares of Skyworks Solutions in a research note on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $112.40.
Shares of Skyworks Solutions (SWKS) traded down 0.01% during mid-day trading on Wednesday, reaching $107.34. The company had a trading volume of 1,039,374 shares. The company’s 50-day moving average price is $104.41 and its 200-day moving average price is $103.17. The company has a market capitalization of $19.72 billion, a PE ratio of 20.60 and a beta of 0.89. Skyworks Solutions has a 52-week low of $71.65 and a 52-week high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. The firm had revenue of $900.80 million during 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 company’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 earnings per share. On average, analysts forecast that Skyworks Solutions will post $6.39 earnings per share for the current fiscal year.
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In other Skyworks Solutions news, insider Liam Griffin sold 13,858 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $102.18, for a total value of $1,416,010.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Christine King sold 3,705 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders sold 28,229 shares of company stock valued at $2,921,104. 0.49% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Invictus RG bought a new position in Skyworks Solutions in the first quarter valued at approximately $101,000. Winslow Evans & Crocker Inc. boosted its stake 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 acquiring an additional 35 shares during the last quarter. WFG Advisors LP boosted its stake in Skyworks Solutions by 14.8% in the second quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock valued at $127,000 after acquiring an additional 171 shares during the last quarter. Sun Life Financial INC boosted its stake 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 acquiring an additional 1,136 shares during the last quarter. Finally, Pathstone Family Office LLC bought a new position in Skyworks Solutions in the first quarter valued at approximately $177,000. 80.82% of the stock is currently owned by hedge funds and other institutional investors.
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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