Vetr Inc. Downgrades Skyworks Solutions, Inc. (SWKS) to Hold
Vetr downgraded shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) from a buy rating to a hold rating in a research report sent to investors on Monday morning. The firm currently has $114.92 target price on the semiconductor manufacturer’s stock.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Skyworks Solutions from a hold rating to a buy rating and set a $114.00 price target for the company in a research report on Monday, August 28th. BMO Capital Markets restated a hold rating and set a $100.00 price target on shares of Skyworks Solutions in a research report on Friday, July 21st. Barclays PLC increased their price target on shares of Skyworks Solutions from $110.00 to $120.00 and gave the company an overweight rating in a research report on Wednesday, October 18th. Argus assumed coverage on shares of Skyworks Solutions in a research report on Thursday, July 6th. They set a buy rating and a $120.00 price target for the company. Finally, Wells Fargo & Company restated an outperform rating on shares of Skyworks Solutions in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $112.50.
Skyworks Solutions (NASDAQ SWKS) traded down $2.10 during midday trading on Monday, hitting $111.76. 2,328,987 shares of the stock traded hands, compared to its average volume of 1,673,458. The stock has a market cap of $20,534.79, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90.
In related news, Director Christine King sold 3,705 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total value of $395,768.10. Following the transaction, the director now directly owns 16,641 shares in the company, valued at $1,777,591.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Liam Griffin sold 2,610 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $99.98, for a total transaction of $260,947.80. Following the completion of the transaction, the insider now owns 50,408 shares in the company, valued at $5,039,791.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,173 shares of company stock worth $2,072,726. 0.49% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SWKS. Waldron LP grew its position in Skyworks Solutions by 5.7% during the first quarter. Waldron LP now owns 3,076 shares of the semiconductor manufacturer’s stock valued at $301,000 after acquiring an additional 165 shares during the last quarter. Empire Life Investments Inc. bought a new position in Skyworks Solutions during the first quarter valued at approximately $9,031,000. Teachers Advisors LLC grew its position in Skyworks Solutions by 18.7% during the first quarter. Teachers Advisors LLC now owns 551,287 shares of the semiconductor manufacturer’s stock valued at $54,015,000 after acquiring an additional 86,804 shares during the last quarter. Thrivent Financial For Lutherans grew its position in Skyworks Solutions by 5.9% during the first quarter. Thrivent Financial For Lutherans now owns 6,790 shares of the semiconductor manufacturer’s stock valued at $665,000 after acquiring an additional 380 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new position in Skyworks Solutions during the first quarter valued at approximately $206,000. Institutional investors and hedge funds own 80.94% 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.
To view Vetr’s full report, visit Vetr’s official website.
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