Skyworks Solutions Inc. (SWKS) Upgraded to Buy at Charter Equity
Skyworks Solutions Inc. (NASDAQ:SWKS) was upgraded by analysts at Charter Equity from a “market perform” rating to a “buy” rating in a research report issued on Tuesday.
Several other research firms have also recently issued reports on SWKS. Vetr cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $77.08 price objective for the company. in a research report on Thursday, September 15th. Canaccord Genuity reissued a “buy” rating and issued a $92.00 price target on shares of Skyworks Solutions in a research report on Friday, September 23rd. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $100.00 price target on shares of Skyworks Solutions in a research report on Friday, September 16th. Brean Capital reissued a “buy” rating on shares of Skyworks Solutions in a research report on Wednesday, September 21st. Finally, Drexel Hamilton reissued a “buy” rating and issued a $90.00 price target on shares of Skyworks Solutions in a research report on Tuesday, August 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $82.96.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded up 1.73% during mid-day trading on Tuesday, hitting $76.63. The company had a trading volume of 1,454,980 shares. Skyworks Solutions has a 52-week low of $54.50 and a 52-week high of $88.52. The firm has a market capitalization of $14.37 billion, a price-to-earnings ratio of 15.18 and a beta of 1.06. The firm has a 50-day moving average price of $73.39 and a 200 day moving average price of $69.42.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.03. The business earned $751.70 million during the quarter, compared to analysts’ expectations of $750.22 million. Skyworks Solutions had a net margin of 29.32% and a return on equity of 29.31%. Analysts expect that Skyworks Solutions will post $5.53 earnings per share for the current year.
In other news, Director Timothy R. Furey sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $74.87, for a total value of $374,350.00. Following the transaction, the director now directly owns 34,947 shares in the company, valued at approximately $2,616,481.89. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bruce J. Freyman sold 3,221 shares of the firm’s 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 disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. PGGM Investments increased 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 worth $36,474,000 after buying an additional 310,401 shares during the last quarter. Shell Asset Management Co. increased 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 worth $1,447,000 after buying an additional 9,213 shares during the last quarter. JPMorgan Chase & Co. increased 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 worth $66,142,000 after buying an additional 1,030,325 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in Skyworks Solutions during the first quarter worth about $27,265,000. Finally, Calvert Investment Management Inc. increased its position in Skyworks Solutions by 5.0% in the second quarter. Calvert Investment Management Inc. now owns 10,114 shares of the semiconductor manufacturer’s stock worth $640,000 after buying an additional 480 shares during the last quarter. Institutional investors own 76.66% of the company’s stock.
Skyworks Solutions Company Profile
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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