Equities research analysts at Piper Jaffray Companies initiated coverage on shares of Skyworks Solutions (NASDAQ:SWKS) in a note issued to investors on Wednesday, The Fly reports. The brokerage set an “overweight” rating on the semiconductor manufacturer’s stock.
SWKS has been the subject of several other reports. B. Riley reiterated a “buy” rating and issued a $131.00 price target on shares of Skyworks Solutions in a report on Tuesday, November 7th. Zacks Investment Research upgraded Skyworks Solutions from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a report on Monday, August 28th. Vetr upgraded Skyworks Solutions from a “buy” rating to a “strong-buy” rating and set a $114.47 price objective for the company in a report on Tuesday, August 29th. Barclays upped their price objective on Skyworks Solutions from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Finally, Craig Hallum restated a “buy” rating on shares of Skyworks Solutions in a report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Skyworks Solutions has an average rating of “Buy” and an average price target of $116.56.
Shares of Skyworks Solutions (NASDAQ SWKS) traded up $1.75 during trading on Wednesday, hitting $97.43. The company had a trading volume of 2,087,669 shares, compared to its average volume of 2,043,963. The firm has a market cap of $17,860.00, a P/E ratio of 15.92, a P/E/G ratio of 0.95 and a beta of 0.84. Skyworks Solutions has a 1 year low of $73.94 and a 1 year high of $117.65.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Skyworks Solutions by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 18,326,001 shares of the semiconductor manufacturer’s stock worth $1,758,380,000 after purchasing an additional 502,995 shares during the period. Manning & Napier Advisors LLC lifted its position in 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 in the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in 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 in the last quarter. Voya Investment Management LLC lifted its position in 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 in the last quarter. Finally, APG Asset Management N.V. lifted its position in Skyworks Solutions by 23.9% in the 3rd quarter. APG Asset Management N.V. now owns 1,286,939 shares of the semiconductor manufacturer’s stock worth $131,139,000 after buying an additional 248,200 shares in the last quarter. Hedge funds and other institutional investors own 81.50% of the company’s stock.
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.
