Skyworks Solutions (NASDAQ:SWKS)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued on Tuesday.
The analysts wrote, “SWKS F1Q18 results exceeded expectations but the company provided lower than expected F2Q18 guidance driven by a decrease in flagship handset units. While near term demand in the company’s Mobile business is experiencing a decrease in order volume by a marquee customer and seasonal headwinds, we remain positive on the company’s setup into F2H18 due to strong design win traction on marquee 2018 platforms and a favorable back drop of new opportunities for SWKS’s low-band PADs and receive diversity (DRx) module products. While we are lowering our forward revenue estimates, our forward NG EPS estimates increase to reflect a lower effective tax rate. We maintain our Buy and $120 price target based on 14.5x our CY19 NG EPS estimate.””
SWKS has been the topic of a number of other reports. Vetr upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating and set a $118.57 price objective on the stock in a report on Tuesday, November 7th. Zacks Investment Research lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. DA Davidson restated a “buy” rating and issued a $130.00 price objective on shares of Skyworks Solutions in a report on Tuesday, November 7th. Barclays raised their price objective on shares of Skyworks Solutions from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Finally, Drexel Hamilton restated a “buy” rating and issued a $128.00 price objective on shares of Skyworks Solutions in a report on Monday. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $115.93.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Monday, November 6th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.05. The company had revenue of $984.60 million for the quarter, compared to analyst estimates of $980.58 million. Skyworks Solutions had a net margin of 27.67% and a return on equity of 29.17%. analysts anticipate that Skyworks Solutions will post 6.66 EPS for the current fiscal year.
Skyworks Solutions announced that its Board of Directors has authorized a stock buyback plan on Monday, February 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, SVP Carlos S. Bori sold 2,151 shares of Skyworks Solutions stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $107.20, for a total value of $230,587.20. Following the sale, the senior vice president now owns 9,372 shares of the company’s stock, valued at $1,004,678.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert John Terry sold 7,986 shares of Skyworks Solutions stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $110.32, for a total transaction of $881,015.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,664 shares of company stock worth $18,031,219. Insiders own 0.49% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new stake in shares of Skyworks Solutions in the fourth quarter valued at about $783,000. Cadence Capital Management LLC lifted its stake in shares of Skyworks Solutions by 213.7% in the fourth quarter. Cadence Capital Management LLC now owns 17,828 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after purchasing an additional 12,145 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Skyworks Solutions by 7.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 21,784 shares of the semiconductor manufacturer’s stock valued at $2,068,000 after purchasing an additional 1,527 shares during the period. Fernwood Investment Management LLC lifted its stake in shares of Skyworks Solutions by 14.5% in the fourth quarter. Fernwood Investment Management LLC now owns 12,305 shares of the semiconductor manufacturer’s stock valued at $1,168,000 after purchasing an additional 1,555 shares during the period. Finally, TrueNorth Inc. lifted its stake in shares of Skyworks Solutions by 11.0% in the fourth quarter. TrueNorth Inc. now owns 22,278 shares of the semiconductor manufacturer’s stock valued at $2,115,000 after purchasing an additional 2,203 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.
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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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