Skyworks Solutions (SWKS) Rating Reiterated by Canaccord Genuity

Skyworks Solutions (NASDAQ:SWKS)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity in a research note issued to investors on Wednesday. They presently have a $115.00 target price on the semiconductor manufacturer’s stock. Canaccord Genuity’s target price would indicate a potential upside of 18.13% from the company’s previous close.

Several other brokerages have also commented on SWKS. Zacks Investment Research raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Morgan Stanley upped their price target on shares of Skyworks Solutions from $86.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 13th. Drexel Hamilton reaffirmed a “buy” rating and set a $128.00 price target (up previously from $120.00) on shares of Skyworks Solutions in a research report on Tuesday, November 7th. BidaskClub lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Finally, B. Riley reaffirmed a “buy” rating and set a $131.00 price target on shares of Skyworks Solutions in a research report on Tuesday, November 7th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $116.42.

Shares of Skyworks Solutions (NASDAQ:SWKS) traded up $2.30 during mid-day trading on Wednesday, reaching $97.35. 2,652,536 shares of the company traded hands, compared to its average volume of 2,260,000. Skyworks Solutions has a 1 year low of $90.06 and a 1 year high of $117.65. The firm has a market capitalization of $17,890.00, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 0.98 and a beta of 0.83.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Monday, November 6th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.64 by $0.05. Skyworks Solutions had a net margin of 27.67% and a return on equity of 29.17%. The firm had revenue of $984.60 million during the quarter, compared to analyst estimates of $980.58 million. sell-side analysts forecast that Skyworks Solutions will post 6.67 EPS for the current year.

In other Skyworks Solutions news, SVP Carlos S. Bori sold 2,151 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $107.20, for a total transaction of $230,587.20. Following the transaction, the senior vice president now directly owns 9,372 shares in the company, valued at approximately $1,004,678.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Liam Griffin sold 15,059 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $95.09, for a total transaction of $1,431,960.31. Following the transaction, the insider now owns 62,359 shares in the company, valued at $5,929,717.31. The disclosure for this sale can be found here. Insiders sold 169,664 shares of company stock valued at $18,031,219 over the last 90 days. Insiders own 0.49% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Manning & Napier Advisors LLC lifted its position in shares of Skyworks Solutions by 9.3% in the 3rd quarter. Manning & Napier Advisors LLC now owns 2,190,222 shares of the semiconductor manufacturer’s stock worth $223,182,000 after buying an additional 186,077 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of Skyworks Solutions by 27.9% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,670,875 shares of the semiconductor manufacturer’s stock worth $170,262,000 after buying an additional 364,933 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Skyworks Solutions by 17.2% in the 4th quarter. APG Asset Management N.V. now owns 1,508,526 shares of the semiconductor manufacturer’s stock worth $119,283,000 after buying an additional 221,587 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Skyworks Solutions by 953.8% in the 2nd quarter. Voya Investment Management LLC now owns 1,290,395 shares of the semiconductor manufacturer’s stock worth $123,813,000 after buying an additional 1,167,942 shares during the last quarter. Finally, Platinum Investment Management Ltd. lifted its position in shares of Skyworks Solutions by 0.3% in the 3rd quarter. Platinum Investment Management Ltd. now owns 1,108,860 shares of the semiconductor manufacturer’s stock worth $112,992,000 after buying an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 81.62% of the company’s stock.

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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.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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