Canaccord Genuity reissued their buy rating on shares of Skyworks Solutions Inc. (NASDAQ:SWKS) in a research report released on Friday morning. The firm currently has a $92.00 target price on the semiconductor manufacturer’s stock.
Several other equities analysts also recently weighed in on the company. Morgan Stanley initiated coverage on Skyworks Solutions in a research report on Monday, June 27th. They set an underweight rating and a $61.00 target price on the stock. Pacific Crest reiterated an equal weight rating on shares of Skyworks Solutions in a research report on Thursday, September 15th. Credit Agricole SA upgraded Skyworks Solutions from an underperform rating to an outperform rating and lifted their target price for the company from $73.00 to $77.00 in a research report on Tuesday, August 9th. Vetr downgraded Skyworks Solutions from a buy rating to a hold rating and set a $72.91 price objective on the stock. in a research report on Wednesday, August 17th. Finally, Brean Capital restated a buy rating on shares of Skyworks Solutions in a research report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $82.91.
Skyworks Solutions (NASDAQ:SWKS) opened at 74.27 on Friday. Skyworks Solutions has a 12 month low of $54.50 and a 12 month high of $88.52. The stock’s 50 day moving average price is $72.72 and its 200 day moving average price is $69.44. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 14.71 and a beta of 1.15.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. The company had revenue of $751.70 million for the quarter, compared to the consensus estimate of $750.22 million. Skyworks Solutions had a return on equity of 29.31% and a net margin of 29.32%. Equities research analysts anticipate that Skyworks Solutions will post $5.53 earnings per share for the current fiscal year.
In other Skyworks Solutions news, VP Mark V. B. Tremallo sold 7,692 shares of the company’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $75.64, for a total transaction of $581,822.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Laura A. Gasparini sold 2,650 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $74.84, for a total value of $198,326.00. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. raised its stake in Skyworks Solutions by 260.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the semiconductor manufacturer’s stock worth $114,000 after buying an additional 1,300 shares in the last quarter. Bellwether Investment Group LLC acquired a new stake in shares of Skyworks Solutions during the second quarter valued at approximately $125,000. Synovus Financial Corp raised its stake in shares of Skyworks Solutions by 16.0% in the second quarter. Synovus Financial Corp now owns 2,282 shares of the semiconductor manufacturer’s stock valued at $143,000 after buying an additional 315 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Skyworks Solutions by 39.7% in the second quarter. Checchi Capital Advisers LLC now owns 2,369 shares of the semiconductor manufacturer’s stock valued at $150,000 after buying an additional 673 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in shares of Skyworks Solutions by 101.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,585 shares of the semiconductor manufacturer’s stock valued at $164,000 after buying an additional 1,302 shares in the last quarter. Institutional investors own 76.66% of the company’s stock.
About Skyworks Solutions
Skyworks Solutions Inc is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Company’s portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics.
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