Skyworks Solutions Inc (SWKS) Lifted to “Buy” at Vetr Inc.
Skyworks Solutions Inc (NASDAQ:SWKS) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $110.82 price target on the semiconductor manufacturer’s stock. Vetr‘s price objective points to a potential upside of 9.07% from the stock’s previous close.
SWKS has been the subject of several other reports. B. Riley restated a “buy” rating and set a $104.00 price target on shares of Skyworks Solutions in a research note on Sunday, January 22nd. Canaccord Genuity increased their target price on Skyworks Solutions from $96.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, March 6th. Pacific Crest upgraded Skyworks Solutions from a “sector weight” rating to an “overweight” rating and set a $120.00 target price for the company in a research note on Tuesday, April 4th. Cowen and Company increased their target price on Skyworks Solutions from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, January 20th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $105.00 target price (up previously from $100.00) on shares of Skyworks Solutions in a research note on Tuesday, January 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Skyworks Solutions currently has a consensus rating of “Buy” and a consensus price target of $96.21.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded down 0.03% during trading on Tuesday, reaching $101.60. 1,524,616 shares of the company’s stock traded hands. Skyworks Solutions has a one year low of $57.11 and a one year high of $102.64. The stock has a market cap of $18.79 billion, a P/E ratio of 21.50 and a beta of 0.88. The company has a 50 day moving average price of $98.01 and a 200-day moving average price of $85.52.
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In related news, insider David J. Aldrich sold 55,000 shares of Skyworks Solutions stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $91.25, for a total transaction of $5,018,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Laura A. Gasparini sold 3,450 shares of Skyworks Solutions stock in a transaction on Monday, January 30th. The shares were sold at an average price of $91.43, for a total value of $315,433.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,950 shares of company stock valued at $5,481,064. 0.62% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BKS Advisors LLC purchased a new stake in Skyworks Solutions during the third quarter worth about $101,000. Canada Pension Plan Investment Board boosted its stake in Skyworks Solutions by 1,084.1% in the third quarter. Canada Pension Plan Investment Board now owns 1,338 shares of the semiconductor manufacturer’s stock worth $102,000 after buying an additional 1,225 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in Skyworks Solutions by 5.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the semiconductor manufacturer’s stock worth $103,000 after buying an additional 50 shares during the last quarter. Tompkins Financial Corp purchased a new stake in Skyworks Solutions during the first quarter worth about $107,000. Finally, TLP Group LLC purchased a new stake in Skyworks Solutions during the third quarter worth about $133,000. 82.29% of the stock is owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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