Skyworks Solutions (NASDAQ:SWKS) had its target price boosted by stock analysts at Canaccord Genuity from $115.00 to $120.00 in a report released on Tuesday. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Canaccord Genuity’s price target suggests a potential upside of 18.40% from the stock’s previous close.

Several other equities analysts also recently weighed in on SWKS. Mizuho reiterated a “buy” rating and issued a $120.00 target price on shares of Skyworks Solutions in a research note on Monday, October 9th. Cowen lifted their target price on shares of Skyworks Solutions from $110.00 to $115.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 10th. Barclays lifted their target price on shares of Skyworks Solutions from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Vetr downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $114.92 target price for the company. in a research note on Monday, October 30th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $100.00 target price on shares of Skyworks Solutions in a research note on Monday, November 6th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $115.93.

Shares of Skyworks Solutions (NASDAQ SWKS) opened at $101.35 on Tuesday. Skyworks Solutions has a 1-year low of $90.53 and a 1-year high of $117.65. The stock has a market cap of $18,620.00, a PE ratio of 22.98, a P/E/G ratio of 0.98 and a beta of 0.69.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Monday, November 6th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.05. The firm had revenue of $984.60 million during the quarter, compared to the consensus estimate of $980.58 million. Skyworks Solutions had a net margin of 21.72% and a return on equity of 30.17%. analysts forecast that Skyworks Solutions will post 6.66 earnings per share for the current fiscal year.

Skyworks Solutions announced that its Board of Directors has authorized a share buyback program on Monday, February 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

In other news, SVP Carlos S. Bori sold 2,151 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $107.20, for a total value of $230,587.20. Following the completion of the sale, the senior vice president now directly owns 9,372 shares in the company, valued at approximately $1,004,678.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David J. Aldrich sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $110.08, for a total transaction of $4,953,600.00. Following the completion of the sale, the chairman now owns 184,842 shares of the company’s stock, valued at $20,347,407.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,664 shares of company stock valued at $18,031,219. Company insiders own 0.49% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Engines Advisors L.L.C. bought a new stake in shares of Skyworks Solutions in the 3rd quarter worth approximately $126,000. WFG Advisors LP lifted its holdings in shares of Skyworks Solutions by 14.8% in the 2nd quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock worth $127,000 after acquiring an additional 171 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Skyworks Solutions in the 2nd quarter worth approximately $202,000. Round Table Services LLC bought a new stake in shares of Skyworks Solutions in the 3rd quarter worth approximately $204,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Skyworks Solutions in the 3rd quarter worth approximately $204,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

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Skyworks Solutions Company Profile

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.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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