Skyworks Solutions (NASDAQ:SWKS) had its price target lifted by Cascend Securities from $95.00 to $100.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. Cascend Securities currently has a hold rating on the semiconductor manufacturer’s stock.
Other analysts also recently issued research reports about the company. Cowen upgraded Skyworks Solutions from a market perform rating to an outperform rating and raised their price objective for the stock from $80.00 to $95.00 in a research report on Thursday, October 10th. Canaccord Genuity cut their target price on Skyworks Solutions from $83.00 to $82.00 and set a buy rating for the company in a research report on Thursday, August 8th. Barclays downgraded Skyworks Solutions from an overweight rating to an equal weight rating and raised their target price for the stock from $75.00 to $80.00 in a research report on Thursday, July 18th. Benchmark began coverage on Skyworks Solutions in a research report on Friday, September 20th. They set a buy rating and a $94.00 target price for the company. Finally, Raymond James upgraded Skyworks Solutions from a market perform rating to an outperform rating and set a $90.00 target price for the company in a research report on Thursday, July 18th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company’s stock. Skyworks Solutions currently has a consensus rating of Hold and an average target price of $88.42.
Shares of SWKS stock opened at $87.77 on Thursday. The stock has a 50 day moving average of $80.26 and a two-hundred day moving average of $79.61. Skyworks Solutions has a 12 month low of $60.12 and a 12 month high of $94.39. The company has a market capitalization of $15.03 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.84 and a beta of 1.04.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.14. Skyworks Solutions had a return on equity of 26.60% and a net margin of 26.10%. The company had revenue of $767.00 million during the quarter, compared to the consensus estimate of $767.71 million. During the same quarter last year, the company earned $1.64 EPS. The company’s quarterly revenue was down 14.2% on a year-over-year basis. On average, equities analysts expect that Skyworks Solutions will post 5.72 EPS for the current year.
In related news, Director Timothy R. Furey sold 3,500 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.30, for a total transaction of $291,550.00. Following the completion of the sale, the director now directly owns 20,824 shares of the company’s stock, valued at approximately $1,734,639.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert John Terry sold 3,250 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $79.68, for a total value of $258,960.00. Following the sale, the senior vice president now directly owns 15,326 shares of the company’s stock, valued at $1,221,175.68. The disclosure for this sale can be found here. Insiders have sold a total of 27,749 shares of company stock valued at $2,292,234 over the last ninety days. Insiders own 0.64% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SWKS. Mechanics Bank Trust Department acquired a new stake in shares of Skyworks Solutions in the 3rd quarter valued at $25,000. Next Capital Management LLC increased its stake in shares of Skyworks Solutions by 118.7% in the 2nd quarter. Next Capital Management LLC now owns 339 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 184 shares during the period. Cribstone Capital Management LLC acquired a new stake in shares of Skyworks Solutions in the 2nd quarter valued at $37,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of Skyworks Solutions in the 2nd quarter valued at $37,000. Finally, Griffin Asset Management Inc. acquired a new stake in shares of Skyworks Solutions in the 2nd quarter valued at $42,000. 80.98% of the stock is owned by hedge funds and other institutional investors.
About Skyworks Solutions
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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