Skyworks Solutions (SWKS) Hits New 1-Year High and Low at $89.56

Skyworks Solutions (NASDAQ:SWKS) shares hit a new 52-week high and low during trading on Monday . The stock traded as low as $89.56 and last traded at $89.26, with a volume of 1201655 shares traded. The stock had previously closed at $91.18.

Several research analysts recently commented on SWKS shares. Piper Jaffray reiterated a “buy” rating and issued a $115.00 target price on shares of Skyworks Solutions in a report on Wednesday, December 27th. BidaskClub lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Vetr lowered shares of Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $108.40 price target on the stock. in a research report on Wednesday, January 3rd. Zacks Investment Research lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Finally, Canaccord Genuity restated a “buy” rating and issued a $115.00 price target on shares of Skyworks Solutions in a research report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Skyworks Solutions currently has an average rating of “Buy” and a consensus target price of $116.89.

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The stock has a market cap of $16,609.84, a price-to-earnings ratio of 14.82, a PEG ratio of 0.90 and a beta of 0.63.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Monday, February 5th. The semiconductor manufacturer reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.09. Skyworks Solutions had a net margin of 21.72% and a return on equity of 30.21%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business earned $1.61 EPS. The firm’s revenue was up 15.0% on a year-over-year basis. equities analysts expect that Skyworks Solutions will post 6.67 earnings per share for the current fiscal year.

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

In other Skyworks Solutions news, insider Peter L. Gammel sold 12,500 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $103.96, for a total value of $1,299,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Peter L. Gammel sold 9,000 shares of the business’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $99.19, for a total transaction of $892,710.00. Following the completion of the transaction, the insider now owns 21,420 shares in the company, valued at $2,124,649.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,250 shares of company stock worth $10,523,768. 0.47% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Skyworks Solutions by 8.9% in the fourth quarter. BlackRock Inc. now owns 13,206,360 shares of the semiconductor manufacturer’s stock valued at $1,253,946,000 after buying an additional 1,076,214 shares in the last quarter. Lazard Asset Management LLC boosted its position in Skyworks Solutions by 21.6% in the fourth quarter. Lazard Asset Management LLC now owns 5,616,559 shares of the semiconductor manufacturer’s stock valued at $533,291,000 after buying an additional 998,446 shares in the last quarter. Vulcan Value Partners LLC boosted its position in Skyworks Solutions by 26.1% in the fourth quarter. Vulcan Value Partners LLC now owns 4,230,322 shares of the semiconductor manufacturer’s stock valued at $401,669,000 after buying an additional 876,101 shares in the last quarter. Geode Capital Management LLC boosted its position in Skyworks Solutions by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,313,298 shares of the semiconductor manufacturer’s stock valued at $219,253,000 after buying an additional 44,823 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its position in Skyworks Solutions by 15.9% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,936,981 shares of the semiconductor manufacturer’s stock valued at $183,916,000 after buying an additional 266,106 shares in the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

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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, 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 shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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