Needham & Company LLC Reiterates “Buy” Rating for Skyworks Solutions, Inc. (SWKS)

Skyworks Solutions, Inc. (NASDAQ:SWKS)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued to clients and investors on Sunday. They presently have a $110.00 target price on the semiconductor manufacturer’s stock. Needham & Company LLC’s price target would suggest a potential upside of 0.41% from the stock’s previous close.

Other analysts have also issued reports about the stock. B. Riley reissued a “buy” rating and set a $120.00 target price on shares of Skyworks Solutions in a research note on Monday, July 17th. BidaskClub raised shares of Skyworks Solutions from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Vetr lowered shares of Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $116.12 target price for the company. in a research note on Monday, July 17th. Cowen and Company reissued a “market perform” rating and set a $110.00 target price on shares of Skyworks Solutions in a research note on Friday, July 21st. Finally, Barclays PLC reissued an “overweight” rating on shares of Skyworks Solutions in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Skyworks Solutions has an average rating of “Buy” and an average price target of $111.90.

Shares of Skyworks Solutions (NASDAQ:SWKS) opened at 109.55 on Friday. Skyworks Solutions has a 52-week low of $71.65 and a 52-week high of $112.11. The stock has a market capitalization of $20.13 billion, a PE ratio of 21.03 and a beta of 0.81. The stock has a 50 day moving average of $104.40 and a 200 day moving average of $102.14.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.05. The firm had revenue of $900.80 million during the quarter, compared to analyst estimates of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The business’s revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 earnings per share. Analysts forecast that Skyworks Solutions will post $6.39 earnings per share for the current year.

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

Hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its stake in shares of Skyworks Solutions by 134.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 28,755 shares of the semiconductor manufacturer’s stock worth $2,759,000 after acquiring an additional 16,467 shares during the last quarter. Cibc World Markets Corp increased its stake in shares of Skyworks Solutions by 47.4% in the 1st quarter. Cibc World Markets Corp now owns 20,264 shares of the semiconductor manufacturer’s stock worth $1,985,000 after acquiring an additional 6,514 shares during the last quarter. Shelton Capital Management increased its stake in shares of Skyworks Solutions by 60.1% in the 1st quarter. Shelton Capital Management now owns 38,286 shares of the semiconductor manufacturer’s stock worth $3,751,000 after acquiring an additional 14,365 shares during the last quarter. Sit Investment Associates Inc. increased its stake in shares of Skyworks Solutions by 1.6% in the 2nd quarter. Sit Investment Associates Inc. now owns 278,730 shares of the semiconductor manufacturer’s stock worth $26,744,000 after acquiring an additional 4,375 shares during the last quarter. Finally, Chicago Equity Partners LLC increased its stake in shares of Skyworks Solutions by 337.8% in the 2nd quarter. Chicago Equity Partners LLC now owns 37,020 shares of the semiconductor manufacturer’s stock worth $3,552,000 after acquiring an additional 28,565 shares during the last quarter. Institutional investors own 80.86% of the company’s stock.

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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