Skyworks Solutions Inc. (SWKS) Sees Significant Decrease in Short Interest
Skyworks Solutions Inc. (NASDAQ:SWKS) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 11,904,713 shares, a drop of 9.0% from the August 31st total of 13,086,647 shares. Based on an average trading volume of 4,436,740 shares, the days-to-cover ratio is presently 2.7 days. Currently, 6.4% of the company’s stock are short sold.
Several analysts recently weighed in on the stock. Vetr raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating and set a $76.75 target price on the stock in a report on Monday. Canaccord Genuity reissued a “buy” rating and set a $92.00 price objective on shares of Skyworks Solutions in a report on Friday, September 23rd. Brean Capital reissued a “buy” rating on shares of Skyworks Solutions in a report on Wednesday, September 21st. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $100.00 price objective on shares of Skyworks Solutions in a report on Friday, September 16th. Finally, Pacific Crest reissued an “equal weight” rating on shares of Skyworks Solutions in a report on Thursday, September 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $82.91.
Skyworks Solutions (NASDAQ:SWKS) opened at 74.27 on Thursday. Skyworks Solutions has a 52 week low of $54.50 and a 52 week high of $88.52. The company has a 50-day moving average of $72.72 and a 200 day moving average of $69.44. The firm has a market cap of $13.93 billion, a P/E ratio of 14.71 and a beta of 1.15.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ 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 had revenue of $751.70 million for the quarter, compared to analyst estimates of $750.22 million. On average, equities analysts predict that Skyworks Solutions will post $5.53 earnings per share for the current year.
In related news, Director Timothy R. Furey sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $74.87, for a total value of $374,350.00. Following the sale, the director now owns 34,947 shares of the company’s stock, valued at $2,616,481.89. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman David J. Aldrich sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $59.46, for a total transaction of $891,900.00. Following the completion of the sale, the chairman now directly owns 140,327 shares in the company, valued at approximately $8,343,843.42. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. raised its stake in shares of Skyworks Solutions by 260.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the semiconductor manufacturer’s stock valued at $114,000 after buying an additional 1,300 shares in the last quarter. Bellwether Investment Group LLC bought a new stake in shares of Skyworks Solutions during the second quarter valued at $125,000. Synovus Financial Corp raised its stake in shares of Skyworks Solutions by 16.0% in the second quarter. Synovus Financial Corp now owns 2,282 shares of the semiconductor manufacturer’s stock valued at $143,000 after buying an additional 315 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Skyworks Solutions by 39.7% in the second quarter. Checchi Capital Advisers LLC now owns 2,369 shares of the semiconductor manufacturer’s stock valued at $150,000 after buying an additional 673 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in shares of Skyworks Solutions by 101.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,585 shares of the semiconductor manufacturer’s stock valued at $164,000 after buying an additional 1,302 shares in the last quarter. 76.66% 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.
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