Skyworks Solutions (NASDAQ:SWKS) had its target price boosted by analysts at Canaccord Genuity from $115.00 to $120.00 in a report released on Tuesday. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 14.77% from the stock’s current price.
A number of other equities analysts have also recently commented on SWKS. Needham & Company LLC reiterated a “buy” rating on shares of Skyworks Solutions in a report on Tuesday. B. Riley dropped their target price on Skyworks Solutions from $131.00 to $128.00 and set a “buy” rating for the company in a report on Tuesday. Drexel Hamilton reiterated a “buy” rating and issued a $128.00 target price on shares of Skyworks Solutions in a report on Monday. UBS Group upgraded Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Vetr cut Skyworks Solutions from a “sell” rating to a “strong sell” rating and set a $91.21 target price for the company. in a report on Thursday, February 1st. Four analysts have rated the stock with a sell rating, four have given a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $115.93.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded up $9.88 during trading on Tuesday, hitting $104.56. The stock had a trading volume of 8,530,000 shares, compared to its average volume of 2,510,000. The stock has a market cap of $19,210.00, a PE ratio of 23.71, a price-to-earnings-growth ratio of 1.03 and a beta of 0.69. Skyworks Solutions has a 12-month low of $90.53 and a 12-month high of $117.65.
Skyworks Solutions announced that its Board of Directors has authorized a share buyback plan on Monday, February 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
In other Skyworks Solutions news, VP Laura A. Gasparini sold 12,132 shares of Skyworks Solutions stock in a transaction on Monday, November 13th. The stock was sold at an average price of $110.53, for a total transaction of $1,340,949.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert John Terry sold 7,986 shares of Skyworks Solutions stock in a transaction on Monday, November 13th. The shares were sold at an average price of $110.32, for a total value of $881,015.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 169,664 shares of company stock valued at $18,031,219. 0.49% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Engines Advisors L.L.C. bought a new stake in Skyworks Solutions during the 3rd quarter valued at $126,000. WFG Advisors LP raised its position in shares of Skyworks Solutions by 14.8% in the 2nd quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock worth $127,000 after acquiring an additional 171 shares in the last quarter. Intact Investment Management Inc. bought a new position in shares of Skyworks Solutions in the 3rd quarter worth $204,000. Round Table Services LLC bought a new position in shares of Skyworks Solutions in the 3rd quarter worth $204,000. Finally, Park Avenue Securities LLC bought a new position in shares of Skyworks Solutions in the 3rd quarter worth $211,000. 81.77% of the stock is owned by institutional investors and hedge funds.
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.
