Skyworks Solutions (NASDAQ:SWKS)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Tuesday, February 6th.
The analysts wrote, “SWKS F1Q18 results exceeded expectations but the company provided lower than expected F2Q18 guidance driven by a decrease in flagship handset units. While near term demand in the company’s Mobile business is experiencing a decrease in order volume by a marquee customer and seasonal headwinds, we remain positive on the company’s setup into F2H18 due to strong design win traction on marquee 2018 platforms and a favorable back drop of new opportunities for SWKS’s low-band PADs and receive diversity (DRx) module products. While we are lowering our forward revenue estimates, our forward NG EPS estimates increase to reflect a lower effective tax rate. We maintain our Buy and $120 price target based on 14.5x our CY19 NG EPS estimate.””
A number of other research analysts have also recently commented on SWKS. Zacks Investment Research cut shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. UBS Group upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, February 6th. Vetr upgraded shares of Skyworks Solutions from a “buy” rating to a “strong-buy” rating and set a $119.64 target price on the stock in a report on Wednesday, November 29th. BMO Capital Markets upgraded shares of Skyworks Solutions from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 6th. They noted that the move was a valuation call. Finally, Bank of America raised their target price on shares of Skyworks Solutions from $120.00 to $125.00 in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $115.93.
Shares of Skyworks Solutions (SWKS) opened at $104.10 on Tuesday. Skyworks Solutions has a fifty-two week low of $90.53 and a fifty-two week high of $117.65. The stock has a market cap of $18,730.04, a PE ratio of 16.19, a PEG ratio of 1.02 and a beta of 0.69.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Monday, February 5th. The semiconductor manufacturer reported $2.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.09. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Skyworks Solutions had a net margin of 21.72% and a return on equity of 30.21%. Skyworks Solutions’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 earnings per share. analysts anticipate that Skyworks Solutions will post 6.67 EPS for the current fiscal year.
Skyworks Solutions declared that its board has approved a share buyback program on Monday, February 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
In related news, 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 value of $4,953,600.00. Following the transaction, the chairman now directly owns 184,842 shares of the company’s stock, valued at approximately $20,347,407.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Peter L. Gammel sold 7,800 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $100.60, for a total value of $784,680.00. Following the sale, the insider now directly owns 12,680 shares in the company, valued at $1,275,608. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,405 shares of company stock worth $14,462,209. 0.49% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Union Bankshares Corp purchased a new stake in shares of Skyworks Solutions during the 4th quarter worth approximately $1,912,000. Cullen Frost Bankers Inc. increased its position in shares of Skyworks Solutions by 9.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 148,581 shares of the semiconductor manufacturer’s stock valued at $14,108,000 after purchasing an additional 12,828 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Skyworks Solutions by 69.2% during the 3rd quarter. Van ECK Associates Corp now owns 307,568 shares of the semiconductor manufacturer’s stock valued at $31,341,000 after purchasing an additional 125,792 shares during the last quarter. Pinebridge Investments L.P. increased its position in shares of Skyworks Solutions by 88.2% during the 3rd quarter. Pinebridge Investments L.P. now owns 108,618 shares of the semiconductor manufacturer’s stock valued at $11,069,000 after purchasing an additional 50,898 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its position in shares of Skyworks Solutions by 18.2% during the 4th quarter. Gateway Investment Advisers LLC now owns 170,791 shares of the semiconductor manufacturer’s stock valued at $16,217,000 after purchasing an additional 26,237 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.
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About Skyworks Solutions
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.
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