Skyworks Solutions, Inc. (SWKS) Stock Rating Upgraded by Zacks Investment Research
Skyworks Solutions, Inc. (NASDAQ:SWKS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “Skyworks ended fiscal 2017 on a strong note. The company reported impressive fourth-quarter results as both earnings and revenues increased on a year-over-year basis. The strong results reflected the company’s growing clout in the connectivity solutions and 5G market. The emergence of connected homes, autonomous vehicles, artificial intelligence (AI), augmented reality, wearables and network infrastructure presents significant growth opportunity for Skyworks’ connectivity solutions. We note that Skyworks has outperformed the broader market on a year-to-date basis. However, heavy investments in research & development are escalating operating expenses, which will continue to drag down margins. Moreover, significant pricing pressure and high concentration risks are other headwinds.”
Other research analysts have also recently issued reports about the stock. Bank of America Corporation boosted their price objective on shares of Skyworks Solutions from $120.00 to $125.00 in a report on Tuesday, November 7th. B. Riley reissued a “buy” rating and set a $120.00 price objective on shares of Skyworks Solutions in a report on Monday, July 17th. Vetr cut shares of Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $116.12 price objective for the company. in a report on Monday, July 17th. Craig Hallum boosted their price objective on shares of Skyworks Solutions from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Mizuho boosted their price objective on shares of Skyworks Solutions from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $115.68.
Skyworks Solutions (NASDAQ SWKS) traded down $0.71 on Friday, hitting $110.41. 1,921,600 shares of the stock traded hands, compared to its average volume of 2,490,996. Skyworks Solutions has a 1 year low of $71.65 and a 1 year high of $117.65. The stock has a market capitalization of $20,286.73, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90.
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In other Skyworks Solutions news, insider Liam Griffin sold 2,610 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $99.98, for a total transaction of $260,947.80. Following the completion of the transaction, the insider now owns 50,408 shares in the company, valued at $5,039,791.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine King sold 3,705 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total transaction of $395,768.10. Following the transaction, the director now owns 16,641 shares of the company’s stock, valued at approximately $1,777,591.62. The disclosure for this sale can be found here. Insiders have sold 20,173 shares of company stock valued at $2,072,726 in the last quarter. 0.49% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in SWKS. Zeke Capital Advisors LLC bought a new stake in shares of Skyworks Solutions in the 3rd quarter worth about $297,000. Schroder Investment Management Group lifted its holdings in shares of Skyworks Solutions by 98.0% in the 3rd quarter. Schroder Investment Management Group now owns 487,824 shares of the semiconductor manufacturer’s stock worth $49,388,000 after acquiring an additional 241,491 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Skyworks Solutions by 9.0% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,943 shares of the semiconductor manufacturer’s stock worth $1,523,000 after acquiring an additional 1,234 shares during the last quarter. Trexquant Investment LP lifted its holdings in shares of Skyworks Solutions by 49.3% in the 3rd quarter. Trexquant Investment LP now owns 6,121 shares of the semiconductor manufacturer’s stock worth $624,000 after acquiring an additional 2,021 shares during the last quarter. Finally, Achmea Investment Management B.V. lifted its holdings in shares of Skyworks Solutions by 3.7% in the 3rd quarter. Achmea Investment Management B.V. now owns 24,017 shares of the semiconductor manufacturer’s stock worth $2,444,000 after acquiring an additional 854 shares during the last quarter. Institutional investors and hedge funds own 80.81% 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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