Skyworks Solutions, Inc. (SWKS) Price Target Raised to $115.00
Skyworks Solutions, Inc. (NASDAQ:SWKS) had its target price raised by Cowen and Company from $110.00 to $115.00 in a report published on Tuesday morning, MarketBeat Ratings reports. Cowen and Company currently has a market perform rating on the semiconductor manufacturer’s stock.
A number of other equities analysts have also weighed in on SWKS. Vetr upgraded shares of Skyworks Solutions from a hold rating to a buy rating and set a $113.68 target price for the company in a research report on Monday, June 12th. Raymond James Financial, Inc. restated an outperform rating and set a $120.00 target price on shares of Skyworks Solutions in a research report on Friday, June 16th. Pacific Crest restated an overweight rating and set a $120.00 target price on shares of Skyworks Solutions in a research report on Wednesday, June 21st. BidaskClub lowered shares of Skyworks Solutions from a strong-buy rating to a buy rating in a research report on Thursday, June 29th. Finally, Argus initiated coverage on shares of Skyworks Solutions in a research report on Thursday, July 6th. They set a buy rating and a $120.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $112.02.
Shares of Skyworks Solutions (SWKS) traded up 1.60% on Tuesday, reaching $106.72. 340,375 shares of the company’s stock traded hands. Skyworks Solutions has a 52-week low of $71.65 and a 52-week high of $112.11. The firm’s 50-day moving average is $104.22 and its 200-day moving average is $103.02. The stock has a market cap of $19.61 billion, a price-to-earnings ratio of 20.48 and a beta of 0.89.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.05. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The firm had revenue of $900.80 million during the quarter, compared to analyst estimates of $890.58 million. During the same quarter in the prior year, the business earned $1.24 earnings per share. Skyworks Solutions’s revenue for the quarter was up 19.8% on a year-over-year basis. Analysts anticipate that Skyworks Solutions will post $6.39 EPS for the current fiscal year.
In other Skyworks Solutions news, Director Christine King sold 3,705 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total transaction of $395,768.10. Following the transaction, the director now owns 16,641 shares of the company’s stock, valued at approximately $1,777,591.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Liam Griffin sold 13,858 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $102.18, for a total transaction of $1,416,010.44. The disclosure for this sale can be found here. Insiders sold a total of 28,229 shares of company stock worth $2,921,104 in the last ninety days. 0.49% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SWKS. Invictus RG purchased a new position in Skyworks Solutions during the 1st quarter valued at about $101,000. Winslow Evans & Crocker Inc. increased its position in Skyworks Solutions by 3.3% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,085 shares of the semiconductor manufacturer’s stock valued at $104,000 after purchasing an additional 35 shares during the period. WFG Advisors LP increased its position in Skyworks Solutions by 14.8% during the 2nd quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock valued at $127,000 after purchasing an additional 171 shares during the period. Sun Life Financial INC increased its position in Skyworks Solutions by 551.5% during the 2nd quarter. Sun Life Financial INC now owns 1,342 shares of the semiconductor manufacturer’s stock valued at $129,000 after purchasing an additional 1,136 shares during the period. Finally, Pathstone Family Office LLC purchased a new position in Skyworks Solutions during the 1st quarter valued at about $177,000. 80.84% of the stock is currently 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.
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