Skyworks Solutions, Inc. (NASDAQ:SWKS)‘s stock had its “buy” rating restated by stock analysts at Mizuho in a report released on Monday, October 9th. They currently have a $120.00 price objective on the semiconductor manufacturer’s stock. Mizuho’s target price would indicate a potential upside of 14.12% from the stock’s previous close.
A number of other equities research analysts have also commented on SWKS. Vetr upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating and set a $113.68 price objective on the stock in a report on Monday, June 12th. Raymond James Financial, Inc. restated an “outperform” rating and set a $120.00 price objective on shares of Skyworks Solutions in a report on Friday, June 16th. Pacific Crest restated an “overweight” rating and set a $120.00 price objective on shares of Skyworks Solutions in a report on Wednesday, June 21st. BidaskClub lowered shares of Skyworks Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Argus began coverage on shares of Skyworks Solutions in a report on Thursday, July 6th. They set a “buy” rating and a $120.00 price objective on the stock. 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 issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $112.40.
Shares of Skyworks Solutions (SWKS) opened at 105.15 on Monday. 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 price is $104.81 and its 200-day moving average price is $103.38. The firm has a market capitalization of $19.32 billion, a PE ratio of 20.18 and a beta of 0.89.
Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.05. The company had revenue of $900.80 million for the quarter, compared to analyst estimates of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period last year, the business posted $1.24 earnings per share. On average, equities analysts predict that Skyworks Solutions will post $6.39 earnings per share for the current fiscal year.
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In related news, insider Liam Griffin sold 13,858 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $102.18, for a total transaction of $1,416,010.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christine King sold 3,705 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $106.82, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,229 shares of company stock worth $2,921,104. Insiders own 0.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SWKS. BlackRock Inc. boosted its stake in Skyworks Solutions by 3,071.2% during the first quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock worth $1,181,019,000 after acquiring an additional 11,673,555 shares in the last quarter. Winslow Capital Management LLC bought a new position in Skyworks Solutions during the first quarter worth $205,388,000. Voya Investment Management LLC boosted its stake in Skyworks Solutions by 953.8% during the second quarter. Voya Investment Management LLC now owns 1,290,395 shares of the semiconductor manufacturer’s stock worth $123,813,000 after acquiring an additional 1,167,942 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in Skyworks Solutions by 587.3% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,305,942 shares of the semiconductor manufacturer’s stock worth $125,305,000 after acquiring an additional 1,115,938 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Skyworks Solutions by 138.9% during the first quarter. AQR Capital Management LLC now owns 1,406,274 shares of the semiconductor manufacturer’s stock worth $137,787,000 after acquiring an additional 817,721 shares in the last quarter. 80.82% 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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