Skyworks Solutions (NASDAQ:SWKS) Price Target Cut to $102.00 by Analysts at Canaccord Genuity

Skyworks Solutions (NASDAQ:SWKS) had its target price dropped by stock analysts at Canaccord Genuity from $115.00 to $102.00 in a research report issued on Friday, November 9th, The Fly reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Canaccord Genuity’s target price would suggest a potential upside of 38.85% from the company’s current price.

SWKS has been the topic of a number of other reports. ValuEngine lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Barclays reduced their target price on shares of Skyworks Solutions from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, October 23rd. Morgan Stanley reduced their target price on shares of Skyworks Solutions from $80.00 to $79.00 and set an “underweight” rating on the stock in a report on Wednesday, October 3rd. Craig Hallum reduced their target price on shares of Skyworks Solutions from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 9th. Finally, BidaskClub raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $104.84.

Shares of Skyworks Solutions stock traded up $0.69 during midday trading on Friday, hitting $73.46. 2,530,831 shares of the company traded hands, compared to its average volume of 2,171,885. The firm has a market capitalization of $12.92 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.89 and a beta of 0.61. Skyworks Solutions has a 12 month low of $68.58 and a 12 month high of $115.98.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.02. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Skyworks Solutions had a net margin of 23.74% and a return on equity of 30.59%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 EPS. As a group, equities research analysts predict that Skyworks Solutions will post 6.74 EPS for the current year.

In other news, Director David J. Aldrich sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $90.48, for a total value of $497,640.00. Following the transaction, the director now owns 147,752 shares in the company, valued at approximately $13,368,600.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Aldrich sold 3,000 shares of the business’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $88.78, for a total transaction of $266,340.00. Following the transaction, the director now owns 145,252 shares in the company, valued at approximately $12,895,472.56. The disclosure for this sale can be found here. Insiders sold a total of 24,500 shares of company stock worth $2,197,150 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SWKS. Capital International Investors acquired a new position in shares of Skyworks Solutions during the 3rd quarter valued at $326,736,000. LSV Asset Management lifted its position in shares of Skyworks Solutions by 3,665.0% during the 3rd quarter. LSV Asset Management now owns 1,852,400 shares of the semiconductor manufacturer’s stock valued at $168,031,000 after acquiring an additional 1,803,200 shares during the period. Vulcan Value Partners LLC lifted its position in shares of Skyworks Solutions by 21.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 6,581,779 shares of the semiconductor manufacturer’s stock valued at $636,129,000 after acquiring an additional 1,179,670 shares during the period. First Trust Advisors LP lifted its position in shares of Skyworks Solutions by 31.1% during the 3rd quarter. First Trust Advisors LP now owns 1,391,837 shares of the semiconductor manufacturer’s stock valued at $126,254,000 after acquiring an additional 330,404 shares during the period. Finally, Eaton Vance Management lifted its position in shares of Skyworks Solutions by 1,024.3% during the 3rd quarter. Eaton Vance Management now owns 327,857 shares of the semiconductor manufacturer’s stock valued at $29,740,000 after acquiring an additional 298,695 shares during the period. Institutional investors own 80.68% 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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Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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