Skyworks Solutions Inc. (NASDAQ:SWKS)’s share price gapped up before the market opened on Friday . The stock had previously closed at $60.57, but opened at $60.89. Skyworks Solutions shares last traded at $62.91, with a volume of 1,241,690 shares trading hands.

Several brokerages recently issued reports on SWKS. Drexel Hamilton reissued a “buy” rating on shares of Skyworks Solutions in a report on Wednesday. Mizuho downgraded shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and cut their price target for the company from $99.00 to $68.00 in a report on Friday, July 1st. Zacks Investment Research raised shares of Skyworks Solutions from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 29th. Morgan Stanley began coverage on shares of Skyworks Solutions in a report on Monday, June 27th. They set an “underweight” rating and a $61.00 price target for the company. Finally, Vetr raised shares of Skyworks Solutions from a “buy” rating to a “strong-buy” rating and set a $72.85 price target for the company in a report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $88.16.

The company has a market cap of $11.97 billion and a PE ratio of 12.24. The company’s 50-day moving average is $64.62 and its 200-day moving average is $68.21.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, April 28th. The semiconductor manufacturer reported $1.25 EPS for the quarter, topping the consensus estimate of $1.24 by $0.01. The company had revenue of $775.10 million for the quarter, compared to analyst estimates of $775.39 million. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. Analysts predict that Skyworks Solutions Inc. will post $5.48 EPS for the current year.

In other news, CEO David J. Aldrich sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $74.48, for a total transaction of $1,117,200.00. Following the completion of the sale, the chief executive officer now owns 193,811 shares of the company’s stock, valued at approximately $14,435,043.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Peter L. Gammel sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, April 15th. The stock was sold at an average price of $76.64, for a total transaction of $114,960.00. Following the sale, the chief technology officer now directly owns 34,581 shares of the company’s stock, valued at approximately $2,650,287.84. The disclosure for this sale can be found here.

Several hedge funds recently made changes to their positions in the company. GAM Holding AG increased its stake in shares of Skyworks Solutions by 7.6% in the fourth quarter. GAM Holding AG now owns 42,571 shares of the semiconductor manufacturer’s stock valued at $3,271,000 after buying an additional 3,006 shares during the period. Johnson Financial Group Inc. increased its stake in Skyworks Solutions by 18.7% in the fourth quarter. Johnson Financial Group Inc. now owns 14,715 shares of the semiconductor manufacturer’s stock valued at $1,131,000 after buying an additional 2,316 shares during the last quarter. Krasney Financial LLC increased its stake in Skyworks Solutions by 3.4% in the fourth quarter. Krasney Financial LLC now owns 105,605 shares of the semiconductor manufacturer’s stock valued at $8,114,000 after buying an additional 3,502 shares during the last quarter. Sigma Investment Counselors Inc. increased its stake in Skyworks Solutions by 0.5% in the fourth quarter. Sigma Investment Counselors Inc. now owns 28,353 shares of the semiconductor manufacturer’s stock valued at $2,178,000 after buying an additional 140 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in Skyworks Solutions by 302.7% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 703,943 shares of the semiconductor manufacturer’s stock valued at $54,083,000 after buying an additional 529,129 shares during the last quarter.

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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