Barclays PLC Raises Skyworks Solutions, Inc. (SWKS) Price Target to $120.00
Skyworks Solutions, Inc. (NASDAQ:SWKS) had its price objective lifted by Barclays PLC from $110.00 to $120.00 in a research report report published on Wednesday morning. Barclays PLC currently has an overweight rating on the semiconductor manufacturer’s stock.
A number of other analysts have also weighed in on the company. Cowen and Company upped their price objective on Skyworks Solutions from $110.00 to $115.00 and gave the stock a market perform rating in a research report on Tuesday, October 10th. Mizuho reiterated a buy rating and set a $120.00 target price on shares of Skyworks Solutions in a research note on Monday, October 9th. Instinet reiterated a buy rating and set a $115.00 target price on shares of Skyworks Solutions in a research note on Tuesday, September 26th. Craig Hallum reiterated a buy rating on shares of Skyworks Solutions in a research note on Thursday, September 21st. Finally, Zacks Investment Research downgraded shares of Skyworks Solutions from a buy rating to a hold rating in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $112.40.
Shares of Skyworks Solutions (SWKS) traded up 1.77% during mid-day trading on Wednesday, reaching $105.15. The company’s stock had a trading volume of 1,821,575 shares. The stock has a 50 day moving average of $104.81 and a 200-day moving average of $103.38. The stock has a market cap of $19.32 billion, a P/E ratio of 20.18 and a beta of 0.89. Skyworks Solutions has a one year low of $71.65 and a one year high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, topping 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 analyst estimates of $890.58 million. During the same quarter in the prior year, the company earned $1.24 earnings per share. The company’s revenue was up 19.8% on a year-over-year basis. On average, equities research analysts expect that Skyworks Solutions will post $6.39 EPS for the current fiscal year.
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In related news, insider Liam Griffin sold 13,858 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $102.18, for a total transaction of $1,416,010.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine King sold 3,705 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $106.82, for a total transaction of $395,768.10. Following the transaction, the director now directly owns 16,641 shares of the company’s stock, valued at $1,777,591.62. The disclosure for this sale can be found here. Insiders have sold 28,229 shares of company stock valued at $2,921,104 over the last three months. 0.49% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Invictus RG purchased a new position in Skyworks Solutions in the first quarter valued at about $101,000. Winslow Evans & Crocker Inc. increased its holdings 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 in the last quarter. WFG Advisors LP increased its holdings in Skyworks Solutions by 14.8% in the second quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock valued at $127,000 after buying an additional 171 shares in the last quarter. Sun Life Financial INC increased its holdings 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 in the last quarter. Finally, Pathstone Family Office LLC purchased a new position in Skyworks Solutions in the first quarter valued at about $177,000. 80.82% of the stock is owned by 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.
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