Skyworks Solutions Inc. (NASDAQ:SWKS) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $81.34 price target on the semiconductor manufacturer’s stock. Vetr‘s price objective suggests a potential upside of 6.05% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. B. Riley reaffirmed a “buy” rating and set a $93.00 target price on shares of Skyworks Solutions in a report on Monday, July 25th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $100.00 target price on shares of Skyworks Solutions in a report on Friday, July 15th. Credit Agricole SA raised Skyworks Solutions from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $73.00 to $77.00 in a report on Tuesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $73.00 target price on shares of Skyworks Solutions in a report on Monday, July 25th. Finally, Pacific Crest reaffirmed an “equal weight” rating and set a $70.00 target price on shares of Skyworks Solutions in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. Skyworks Solutions presently has a consensus rating of “Buy” and an average target price of $83.09.
Skyworks Solutions (NASDAQ:SWKS) traded down 1.20% during midday trading on Monday, reaching $76.70. 1,726,865 shares of the company traded hands. The firm has a 50-day moving average of $75.13 and a 200-day moving average of $69.57. The stock has a market capitalization of $14.38 billion, a P/E ratio of 15.19 and a beta of 1.06. Skyworks Solutions has a 1-year low of $54.50 and a 1-year high of $88.52.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.03. Skyworks Solutions had a return on equity of 29.31% and a net margin of 29.32%. The firm earned $751.70 million during the quarter, compared to the consensus estimate of $750.22 million. On average, analysts predict that Skyworks Solutions will post $5.53 earnings per share for the current year.
In related news, EVP Bruce J. Freyman sold 3,221 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $75.00, for a total transaction of $241,575.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Laura A. Gasparini sold 2,650 shares of the stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $74.84, for a total value of $198,326.00. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the company. Shell Asset Management Co. raised its position in Skyworks Solutions by 67.5% in the second quarter. Shell Asset Management Co. now owns 22,867 shares of the semiconductor manufacturer’s stock valued at $1,447,000 after buying an additional 9,213 shares during the last quarter. PGGM Investments raised its position in Skyworks Solutions by 116.7% in the second quarter. PGGM Investments now owns 576,392 shares of the semiconductor manufacturer’s stock valued at $36,474,000 after buying an additional 310,401 shares during the last quarter. JPMorgan Chase & Co. raised its position in Skyworks Solutions by 568.4% in the first quarter. JPMorgan Chase & Co. now owns 849,066 shares of the semiconductor manufacturer’s stock valued at $66,142,000 after buying an additional 1,030,325 shares during the last quarter. Southpoint Capital Advisors LP purchased a new position in Skyworks Solutions during the first quarter valued at about $27,265,000. Finally, HL Financial Services LLC raised its position in Skyworks Solutions by 8.2% in the second quarter. HL Financial Services LLC now owns 46,481 shares of the semiconductor manufacturer’s stock valued at $2,941,000 after buying an additional 3,504 shares during the last quarter. 76.67% of the stock is currently owned by hedge funds and other institutional investors.
About Skyworks Solutions
Skyworks Solutions Inc is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Company’s portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics.
To view Vetr’s full report, visit Vetr’s official website.
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