Skyworks Solutions, Inc. (SWKS) Stock Rating Reaffirmed by Craig Hallum

Skyworks Solutions, Inc. (NASDAQ:SWKS)‘s stock had its “buy” rating reiterated by research analysts at Craig Hallum in a research report issued on Wednesday.

Several other research firms have also recently weighed in on SWKS. Vetr upgraded Skyworks Solutions from a “hold” rating to a “buy” rating and set a $113.68 price target on the stock in a report on Monday, June 12th. Instinet started coverage on Skyworks Solutions in a report on Wednesday, September 6th. They set a “buy” rating and a $115.00 price target on the stock. BidaskClub upgraded Skyworks Solutions from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Argus started coverage on Skyworks Solutions in a report on Thursday, July 6th. They set a “buy” rating and a $120.00 price target on the stock. Finally, Zacks Investment Research cut Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $111.83.

Skyworks Solutions (SWKS) opened at 107.05 on Wednesday. Skyworks Solutions has a 52-week low of $71.65 and a 52-week high of $112.11. The firm’s 50-day moving average is $104.33 and its 200-day moving average is $102.04. The firm has a market capitalization of $19.67 billion, a P/E ratio of 20.55 and a beta of 0.81.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.05. The company had revenue of $900.80 million for the quarter, compared to analysts’ expectations of $890.58 million. Skyworks Solutions had a return on equity of 28.67% and a net margin of 27.86%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 earnings per share. On average, equities analysts expect that Skyworks Solutions will post $6.39 earnings per share for the current year.

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In other news, Director Christine King sold 3,705 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $106.82, for a total transaction of $395,768.10. Following the transaction, the director now directly owns 16,641 shares of the company’s stock, valued at $1,777,591.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Liam Griffin sold 2,610 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $99.98, for a total value of $260,947.80. Following the transaction, the insider now directly owns 50,408 shares in the company, valued at $5,039,791.84. The disclosure for this sale can be found here. Insiders have sold 14,371 shares of company stock worth $1,505,093 over the last ninety days. 0.49% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Achmea Investment Management B.V. raised its position in Skyworks Solutions by 10.5% in the 2nd quarter. Achmea Investment Management B.V. now owns 23,163 shares of the semiconductor manufacturer’s stock valued at $2,218,000 after buying an additional 2,202 shares during the last quarter. Kimelman & Baird LLC raised its position in Skyworks Solutions by 0.7% in the 2nd quarter. Kimelman & Baird LLC now owns 101,758 shares of the semiconductor manufacturer’s stock valued at $9,764,000 after buying an additional 675 shares during the last quarter. WFG Advisors LP raised its position in Skyworks Solutions by 14.8% in the 2nd quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock valued at $127,000 after buying an additional 171 shares during the last quarter. Toronto Dominion Bank raised its position in Skyworks Solutions by 25.2% in the 2nd quarter. Toronto Dominion Bank now owns 62,515 shares of the semiconductor manufacturer’s stock valued at $5,997,000 after buying an additional 12,602 shares during the last quarter. Finally, Oak Associates Ltd. OH raised its position in Skyworks Solutions by 17.5% in the 2nd quarter. Oak Associates Ltd. OH now owns 110,137 shares of the semiconductor manufacturer’s stock valued at $10,568,000 after buying an additional 16,407 shares during the last quarter. 80.86% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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