Skyworks Solutions’ (SWKS) “Sell” Rating Reaffirmed at Citigroup Inc.
Skyworks Solutions, Inc. (NASDAQ:SWKS)‘s stock had its “sell” rating reissued by equities researchers at Citigroup Inc. in a research note issued to investors on Monday. They presently have a $90.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $84.00. Citigroup Inc.’s price objective points to a potential downside of 14.98% from the company’s current price.
SWKS has been the topic of several other research reports. Vetr cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $101.62 target price on the stock. in a report on Monday, April 3rd. ValuEngine cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Craig Hallum lifted their price target on shares of Skyworks Solutions from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, April 4th. Canaccord Genuity lifted their price target on shares of Skyworks Solutions from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $100.00 price target on shares of Skyworks Solutions in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $107.86.
Skyworks Solutions (SWKS) traded down 1.50% during midday trading on Monday, hitting $105.86. 3,085,820 shares of the stock were exchanged. The company’s 50 day moving average is $102.89 and its 200-day moving average is $97.40. Skyworks Solutions has a 1-year low of $62.40 and a 1-year high of $112.11. The stock has a market cap of $19.50 billion, a PE ratio of 20.32 and a beta of 0.81.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.05. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The firm had revenue of $900.80 million for the quarter, compared to analysts’ expectations of $890.58 million. During the same quarter last year, the business earned $1.24 earnings per share. The business’s revenue was up 19.8% on a year-over-year basis. On average, analysts expect that Skyworks Solutions will post $6.38 earnings per share for the current year.
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In other Skyworks Solutions news, insider Liam Griffin sold 21,000 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $100.25, for a total transaction of $2,105,250.00. Following the completion of the sale, the insider now directly owns 74,782 shares in the company, valued at approximately $7,496,895.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert John Terry sold 3,233 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $100.26, for a total value of $324,140.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,458 shares of company stock valued at $9,512,091. Corporate insiders own 0.49% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SWKS. Invictus RG bought a new position in shares of Skyworks Solutions during the first quarter worth about $101,000. Winslow Evans & Crocker Inc. increased its position in shares of 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 period. Tompkins Financial Corp bought a new position in shares of Skyworks Solutions during the first quarter worth about $107,000. WFG Advisors LP increased its position in shares of Skyworks Solutions by 18.6% in the first quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock worth $113,000 after buying an additional 181 shares during the period. Finally, TrimTabs Asset Management LLC increased its position in shares of Skyworks Solutions by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $138,000 after buying an additional 664 shares during the period. Institutional investors own 81.24% 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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