Skyworks Solutions (NASDAQ:SWKS) had its price objective cut by analysts at CIBC from $120.00 to $110.00 in a note issued to investors on Friday. The firm presently has an “outperform” rating on the semiconductor manufacturer’s stock. CIBC’s target price suggests a potential upside of 43.49% from the stock’s previous close.
Several other research analysts have also issued reports on the stock. BMO Capital Markets cut their target price on shares of Skyworks Solutions to $100.00 and set an “outperform” rating for the company in a research report on Friday. Summit Redstone lowered shares of Skyworks Solutions to a “hold” rating in a research report on Friday. Canaccord Genuity cut their target price on shares of Skyworks Solutions from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday. Loop Capital cut their target price on shares of Skyworks Solutions to $102.00 and set a “buy” rating for the company in a research report on Friday. Finally, Needham & Company LLC cut their target price on shares of Skyworks Solutions to $99.00 and set a “buy” rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $107.79.
Shares of Skyworks Solutions stock traded down $6.74 during trading on Friday, hitting $76.66. The stock had a trading volume of 8,436,241 shares, compared to its average volume of 1,960,861. The stock has a market cap of $14.79 billion, a P/E ratio of 12.50, a PEG ratio of 0.82 and a beta of 0.64. Skyworks Solutions has a 12 month low of $75.15 and a 12 month high of $115.98.
Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.02. Skyworks Solutions had a net margin of 23.78% and a return on equity of 30.31%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Skyworks Solutions will post 7.34 EPS for the current year.
In other Skyworks Solutions news, Director David J. Aldrich sold 3,000 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $88.78, for a total transaction of $266,340.00. Following the completion of the sale, the director now directly owns 145,252 shares in the company, valued at $12,895,472.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David J. Aldrich sold 10,000 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $92.89, for a total transaction of $928,900.00. Following the sale, the director now owns 152,252 shares of the company’s stock, valued at $14,142,688.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,500 shares of company stock valued at $3,126,050. Company insiders own 0.47% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SWKS. Catalyst Capital Advisors LLC purchased a new stake in shares of Skyworks Solutions during the second quarter worth about $101,000. Quad Cities Investment Group LLC purchased a new stake in shares of Skyworks Solutions during the second quarter worth about $102,000. NEXT Financial Group Inc purchased a new stake in shares of Skyworks Solutions during the third quarter worth about $108,000. Polaris Greystone Financial Group LLC boosted its holdings in shares of Skyworks Solutions by 4,813.3% during the third quarter. Polaris Greystone Financial Group LLC now owns 1,474 shares of the semiconductor manufacturer’s stock worth $134,000 after purchasing an additional 1,444 shares during the period. Finally, Peak Capital Management LLC purchased a new stake in shares of Skyworks Solutions during the second quarter worth about $136,000. Institutional investors and hedge funds own 80.71% of the company’s stock.
Skyworks Solutions Company Profile
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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