Skyworks Solutions (NASDAQ:SWKS – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.
SWKS has been the topic of several other research reports. Barclays cut Skyworks Solutions from an “overweight” rating to an “equal weight” rating and set a $115.00 price objective on the stock. in a research note on Thursday, July 20th. Susquehanna increased their price target on Skyworks Solutions from $125.00 to $130.00 and gave the stock a “positive” rating in a research report on Tuesday, August 8th. Wolfe Research assumed coverage on Skyworks Solutions in a report on Wednesday, July 19th. They issued an “outperform” rating and a $135.00 price target on the stock. BNP Paribas downgraded Skyworks Solutions from an “outperform” rating to a “neutral” rating and set a $110.00 price target on the stock. in a report on Wednesday. Finally, KeyCorp reissued an “overweight” rating and issued a $130.00 price target on shares of Skyworks Solutions in a report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $120.88.
Check Out Our Latest Stock Analysis on SWKS
Skyworks Solutions Trading Up 0.1 %
Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last announced its quarterly earnings data on Monday, August 7th. The semiconductor manufacturer reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.30. Skyworks Solutions had a return on equity of 23.89% and a net margin of 20.97%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm posted $2.12 earnings per share. Skyworks Solutions’s revenue for the quarter was down 13.1% compared to the same quarter last year. On average, analysts anticipate that Skyworks Solutions will post 7.45 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Kevin L. Beebe sold 4,851 shares of Skyworks Solutions stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.97, for a total transaction of $504,358.47. Following the transaction, the director now directly owns 51,855 shares in the company, valued at approximately $5,391,364.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Kris Sennesael sold 40,000 shares of Skyworks Solutions stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $106.28, for a total value of $4,251,200.00. Following the transaction, the chief financial officer now directly owns 87,823 shares in the company, valued at approximately $9,333,828.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin L. Beebe sold 4,851 shares of Skyworks Solutions stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.97, for a total value of $504,358.47. Following the completion of the transaction, the director now owns 51,855 shares in the company, valued at $5,391,364.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,962 shares of company stock worth $6,225,401. 0.34% of the stock is owned by company insiders.
Hedge Funds Weigh In On Skyworks Solutions
A number of hedge funds have recently modified their holdings of the stock. Portside Wealth Group LLC acquired a new position in shares of Skyworks Solutions in the 2nd quarter worth $263,000. Western Wealth Management LLC grew its holdings in shares of Skyworks Solutions by 8.1% in the 2nd quarter. Western Wealth Management LLC now owns 12,281 shares of the semiconductor manufacturer’s stock worth $1,359,000 after acquiring an additional 920 shares during the last quarter. Alamar Capital Management LLC boosted its position in shares of Skyworks Solutions by 5.2% in the second quarter. Alamar Capital Management LLC now owns 19,365 shares of the semiconductor manufacturer’s stock worth $2,144,000 after buying an additional 954 shares during the period. Alberta Investment Management Corp boosted its position in shares of Skyworks Solutions by 6.4% in the second quarter. Alberta Investment Management Corp now owns 26,770 shares of the semiconductor manufacturer’s stock worth $2,963,000 after buying an additional 1,600 shares during the period. Finally, Comerica Bank acquired a new stake in shares of Skyworks Solutions in the second quarter worth $307,000. 81.39% of the stock is currently owned by institutional investors and hedge funds.
About Skyworks Solutions
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, clocks and timings, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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