Skyworks Solutions (NASDAQ:SWKS) had its target price dropped by equities research analysts at Loop Capital to $102.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Loop Capital’s price objective suggests a potential upside of 33.06% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. Craig Hallum restated a “buy” rating and set a $120.00 price objective (up previously from $115.00) on shares of Skyworks Solutions in a report on Friday, July 20th. Oppenheimer lowered their price objective on shares of Skyworks Solutions from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday. Charter Equity restated a “market perform” rating on shares of Skyworks Solutions in a report on Friday. Cowen restated a “hold” rating on shares of Skyworks Solutions in a report on Friday. Finally, BidaskClub downgraded shares of Skyworks Solutions from a “sell” rating to a “strong sell” rating in a report on Friday, August 17th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $107.79.
Skyworks Solutions stock opened at $76.66 on Friday. Skyworks Solutions has a 12-month low of $75.15 and a 12-month high of $115.98. The firm has a market cap of $14.79 billion, a P/E ratio of 11.56, a P/E/G ratio of 0.82 and a beta of 0.64.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.02. Skyworks Solutions had a net margin of 23.78% and a return on equity of 30.31%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the company earned $1.82 EPS. Skyworks Solutions’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Skyworks Solutions will post 7.34 earnings per share for the current fiscal year.
In other news, Director David J. Aldrich sold 10,000 shares of the company’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $91.30, for a total value of $913,000.00. Following the completion of the sale, the director now owns 152,252 shares in the company, valued at approximately $13,900,607.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David J. Aldrich sold 3,000 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $86.25, for a total transaction of $258,750.00. Following the completion of the sale, the director now owns 144,251 shares of the company’s stock, valued at approximately $12,441,648.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,500 shares of company stock valued at $3,126,050. Company insiders own 0.47% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SWKS. Kiwi Wealth Investments Limited Partnership bought a new position in Skyworks Solutions during the second quarter valued at about $3,486,000. Centaurus Financial Inc. bought a new position in Skyworks Solutions during the second quarter valued at about $147,000. grace capital bought a new position in Skyworks Solutions during the second quarter valued at about $435,000. Midas Management Corp grew its position in Skyworks Solutions by 16.7% during the third quarter. Midas Management Corp now owns 31,500 shares of the semiconductor manufacturer’s stock valued at $2,857,000 after buying an additional 4,500 shares during the period. Finally, Hammer Asset Management LLC bought a new position in Skyworks Solutions during the second quarter valued at about $2,606,000. Hedge funds and other institutional investors own 80.71% of the company’s stock.
Skyworks Solutions Company Profile
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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