Skyworks Solutions, Inc. (SWKS) Stock Rating Lowered by Zacks Investment Research
Skyworks Solutions, Inc. (NASDAQ:SWKS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Skyworks reported strong third-quarter fiscal 2017 results. Both earnings and revenues increased on a year-over-year basis. Strong demand for Wi-Fi, Zigbee and LTE solutions have helped the company to gain traction. Management provided optimistic guidance for the fourth-quarter. We note that Skyworks has outperformed the broader market on a year-to-date basis. Further, strategic design wins in IoT, automotive and 5G markets to remain significant positives for the company in the long haul. However, heavy investments in R&D are escalating operating expenses, which is affecting margins. Significant pricing pressure, technological obsolescence and high concentration risks remain additional headwinds. Additionally the delay in launch of iPhone 8 seems to be a negative for the company.”
A number of other research analysts have also recently commented on SWKS. B. Riley reaffirmed a “buy” rating and set a $120.00 target price on shares of Skyworks Solutions in a research note on Friday, April 28th. Drexel Hamilton upped their target price on Skyworks Solutions from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Craig Hallum upped their target price on Skyworks Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 target price (up previously from $92.00) on shares of Skyworks Solutions in a research note on Friday, April 28th. Finally, Canaccord Genuity upped their target price on Skyworks Solutions from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $110.15.
Skyworks Solutions (NASDAQ:SWKS) traded down 0.76% during mid-day trading on Friday, hitting $101.72. The stock had a trading volume of 404,582 shares. Skyworks Solutions has a 52 week low of $65.76 and a 52 week high of $112.11. The firm has a market cap of $18.69 billion, a PE ratio of 19.52 and a beta of 0.82. The company’s 50 day moving average price is $103.73 and its 200 day moving average price is $100.88.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.05. Skyworks Solutions had a return on equity of 28.67% and a net margin of 27.86%. The business had revenue of $900.80 million for the quarter, compared to the consensus estimate of $890.58 million. During the same period in the prior year, the business posted $1.24 earnings per share. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. Analysts anticipate that Skyworks Solutions will post $6.39 earnings per share for the current year.
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In related news, insider Liam Griffin sold 8,056 shares of Skyworks Solutions stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $105.31, for a total value of $848,377.36. Following the sale, the insider now directly owns 54,310 shares in the company, valued at approximately $5,719,386.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christine King sold 3,500 shares of Skyworks Solutions stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $108.84, for a total value of $380,940.00. Following the completion of the sale, the director now owns 16,436 shares in the company, valued at $1,788,894.24. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.
Large investors have recently bought and sold shares of the company. Invictus RG purchased a new stake in Skyworks Solutions during the first quarter valued at about $101,000. Winslow Evans & Crocker Inc. boosted its stake in Skyworks Solutions by 3.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,085 shares of the semiconductor manufacturer’s stock valued at $104,000 after buying an additional 35 shares during the last quarter. WFG Advisors LP boosted its stake in Skyworks Solutions by 18.6% in the first quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock valued at $113,000 after buying an additional 181 shares during the last quarter. Sun Life Financial INC boosted its stake in Skyworks Solutions by 551.5% in the second quarter. Sun Life Financial INC now owns 1,342 shares of the semiconductor manufacturer’s stock valued at $129,000 after buying an additional 1,136 shares during the last quarter. Finally, TrimTabs Asset Management LLC boosted its stake in Skyworks Solutions by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock valued at $138,000 after buying an additional 664 shares during the last quarter. Institutional investors own 81.26% 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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