Skyworks Solutions Inc. (SWKS) Downgraded by Vetr Inc. to “Hold”
Skyworks Solutions Inc. (NASDAQ:SWKS) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They currently have a $78.02 price objective on the semiconductor manufacturer’s stock. Vetr‘s target price points to a potential upside of 2.47% from the company’s current price.
Other analysts also recently issued reports about the stock. B. Riley restated a “buy” rating and set a $93.00 price target on shares of Skyworks Solutions in a research report on Monday, July 25th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $100.00 price target on shares of Skyworks Solutions in a research report on Friday, July 15th. Credit Agricole SA upgraded shares of Skyworks Solutions from an “underperform” rating to an “outperform” rating and boosted their price target for the stock from $73.00 to $77.00 in a research report on Tuesday, August 9th. Pacific Crest restated an “equal weight” rating and set a $70.00 price target on shares of Skyworks Solutions in a research report on Monday, July 25th. Finally, Mizuho cut shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $99.00 to $68.00 in a research note on Friday, July 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $82.96.
Skyworks Solutions (NASDAQ:SWKS) opened at 76.14 on Monday. The company’s 50 day moving average is $73.17 and its 200 day moving average is $69.49. The stock has a market cap of $14.28 billion, a P/E ratio of 15.08 and a beta of 1.15. Skyworks Solutions has a 52 week low of $54.50 and a 52 week high of $88.52.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. Skyworks Solutions had a net margin of 29.32% and a return on equity of 29.31%. The company had revenue of $751.70 million for the quarter, compared to the consensus estimate of $750.22 million. Equities analysts predict that Skyworks Solutions will post $5.53 earnings per share for the current year.
In other Skyworks Solutions news, Chairman David J. Aldrich sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $59.46, for a total value of $891,900.00. Following the sale, the chairman now owns 140,327 shares of the company’s stock, valued at approximately $8,343,843.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark V. B. Tremallo sold 7,692 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $75.64, for a total transaction of $581,822.88. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.
Large investors have recently made changes to their positions in the stock. 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 valued at $114,000 after buying an additional 1,300 shares during the last quarter. Bellwether Investment Group LLC purchased a new stake in Skyworks Solutions during the second quarter valued at $125,000. Synovus Financial Corp raised its stake in 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 during the last quarter. Checchi Capital Advisers LLC raised its stake in 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 during the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in 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 during the last quarter. 76.66% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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