Skyworks Solutions Inc. (SWKS) Raised to Buy at Vetr Inc.
Skyworks Solutions Inc. (NASDAQ:SWKS) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $81.34 price objective on the semiconductor manufacturer’s stock. Vetr‘s target price suggests a potential upside of 6.05% from the stock’s previous close.
A number of other analysts also recently issued reports on SWKS. Morgan Stanley initiated coverage on shares of Skyworks Solutions in a report on Monday, June 27th. They set an “underweight” rating and a $61.00 price objective for the company. Pacific Crest reiterated an “equal weight” rating on shares of Skyworks Solutions in a research note on Thursday, September 15th. Credit Agricole SA upgraded shares of 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 research note on Tuesday, August 9th. Charter Equity upgraded shares of Skyworks Solutions from a “market perform” rating to a “buy” rating in a research note on Tuesday, October 4th. Finally, Drexel Hamilton reiterated a “buy” rating on shares of Skyworks Solutions in a research note on Wednesday, July 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company. Skyworks Solutions currently has a consensus rating of “Buy” and an average target price of $83.09.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded down 1.20% during mid-day trading on Monday, hitting $76.70. 1,726,865 shares of the stock were exchanged. Skyworks Solutions has a 52 week low of $54.50 and a 52 week high of $88.52. The stock’s 50-day moving average is $75.13 and its 200-day moving average is $69.57. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of 15.19 and a beta of 1.06.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.03. Skyworks Solutions had a net margin of 29.32% and a return on equity of 29.31%. The company had revenue of $751.70 million for the quarter, compared to analyst estimates of $750.22 million. Analysts forecast that Skyworks Solutions will post $5.53 earnings per share for the current fiscal year.
In other Skyworks Solutions news, Director Timothy R. Furey sold 5,000 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $74.87, for a total transaction of $374,350.00. Following the transaction, the director now directly owns 34,947 shares of the company’s stock, valued at approximately $2,616,481.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Bruce J. Freyman sold 36,272 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $80.00, for a total transaction of $2,901,760.00. Following the transaction, the executive vice president now directly owns 41,675 shares in the company, valued at $3,334,000. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SWKS. Shell Asset Management Co. increased its position in shares of 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. PGGM Investments increased its position in shares of 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. JPMorgan Chase & Co. increased its position in shares of 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 bought a new position in shares of Skyworks Solutions during the first quarter worth about $27,265,000. Finally, HL Financial Services LLC increased its position in shares of Skyworks Solutions by 8.2% in the second quarter. HL Financial Services LLC now owns 46,481 shares of the semiconductor manufacturer’s stock worth $2,941,000 after buying an additional 3,504 shares during the last quarter. 76.67% of the stock is currently owned by institutional investors and hedge funds.
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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