Mizuho restated their buy rating on shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in a report published on Monday morning. The firm currently has a $120.00 price objective on the semiconductor manufacturer’s stock.
A number of other brokerages have also recently issued reports on SWKS. Needham & Company LLC reissued a buy rating and set a $110.00 price objective on shares of Skyworks Solutions in a report on Sunday, September 17th. Vetr cut Skyworks Solutions from a buy rating to a hold rating and set a $112.42 price objective for the company. in a report on Monday, September 18th. Zacks Investment Research cut Skyworks Solutions from a buy rating to a hold rating in a report on Wednesday, September 20th. Barclays PLC reissued an overweight rating on shares of Skyworks Solutions in a report on Friday, July 21st. Finally, Craig Hallum lifted their price objective on Skyworks Solutions from $120.00 to $125.00 and gave the company a buy rating in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $112.02.
Skyworks Solutions (SWKS) opened at 105.04 on Monday. The stock’s 50 day moving average is $104.22 and its 200 day moving average is $103.02. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 20.16 and a beta of 0.89. Skyworks Solutions has a 52-week low of $71.65 and a 52-week high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.05. The company had revenue of $900.80 million during the quarter, compared to analysts’ expectations of $890.58 million. Skyworks Solutions had a return on equity of 28.67% and a net margin of 27.86%. The business’s revenue was up 19.8% on a year-over-year basis. During the same period last year, the business earned $1.24 earnings per share. On average, analysts predict that Skyworks Solutions will post $6.39 earnings per share for the current fiscal year.
In related news, Director Christine King sold 3,705 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $106.82, for a total value of $395,768.10. Following the completion of the transaction, the director now directly owns 16,641 shares in the company, valued at approximately $1,777,591.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Liam Griffin sold 2,610 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $99.98, for a total value of $260,947.80. Following the completion of the transaction, the insider now owns 50,408 shares of the company’s stock, valued at $5,039,791.84. The disclosure for this sale can be found here. Insiders sold a total of 28,229 shares of company stock valued at $2,921,104 over the last quarter. 0.49% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Fulton Bank N.A. grew its position in shares of Skyworks Solutions by 14.3% in the 3rd quarter. Fulton Bank N.A. now owns 21,813 shares of the semiconductor manufacturer’s stock valued at $2,222,000 after purchasing an additional 2,731 shares during the period. Eqis Capital Management Inc. grew its position in shares of Skyworks Solutions by 10.6% in the 3rd quarter. Eqis Capital Management Inc. now owns 13,226 shares of the semiconductor manufacturer’s stock valued at $1,348,000 after purchasing an additional 1,271 shares during the period. Achmea Investment Management B.V. grew its position in shares of Skyworks Solutions by 10.5% in the 2nd quarter. Achmea Investment Management B.V. now owns 23,163 shares of the semiconductor manufacturer’s stock valued at $2,218,000 after purchasing an additional 2,202 shares during the period. Kimelman & Baird LLC grew its position in shares of Skyworks Solutions by 0.7% in the 2nd quarter. Kimelman & Baird LLC now owns 101,758 shares of the semiconductor manufacturer’s stock valued at $9,764,000 after purchasing an additional 675 shares during the period. Finally, WFG Advisors LP grew its position in shares of Skyworks Solutions by 14.8% in 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. Institutional investors and hedge funds own 80.84% 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.
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