Skyworks Solutions (NASDAQ:SWKS) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Skyworks Solutions (NASDAQ:SWKS) from a hold rating to a buy rating in a report issued on Thursday, BidAskClub reports.

Several other equities research analysts have also commented on SWKS. Macquarie lowered shares of Skyworks Solutions from an outperform rating to a neutral rating and set a $92.80 price objective on the stock. in a research note on Wednesday, April 17th. Piper Jaffray Companies dropped their price objective on shares of Skyworks Solutions from $100.00 to $90.00 and set an overweight rating on the stock in a research note on Wednesday, June 5th. Argus lowered shares of Skyworks Solutions from a buy rating to a hold rating and set a $69.00 price objective on the stock. in a research note on Friday, June 7th. DA Davidson dropped their price objective on shares of Skyworks Solutions to $95.00 and set a buy rating on the stock in a research note on Wednesday, June 5th. Finally, Craig Hallum reissued a buy rating and set a $85.00 price objective (down previously from $105.00) on shares of Skyworks Solutions in a research note on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $86.70.

Shares of NASDAQ SWKS traded down $3.44 during midday trading on Thursday, hitting $79.33. 3,159,265 shares of the company traded hands, compared to its average volume of 2,028,379. Skyworks Solutions has a 12-month low of $60.12 and a 12-month high of $96.25. The firm has a 50-day moving average of $79.83. The company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.63 and a beta of 0.98.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 EPS for the quarter, topping the consensus estimate of $1.43 by $0.04. Skyworks Solutions had a net margin of 29.06% and a return on equity of 28.25%. The business had revenue of $810.40 million for the quarter, compared to analyst estimates of $809.52 million. During the same quarter in the previous year, the firm posted $1.64 earnings per share. Skyworks Solutions’s quarterly revenue was down 11.3% on a year-over-year basis. As a group, analysts expect that Skyworks Solutions will post 5.68 EPS for the current year.

In other news, insider Peter L. Gammel sold 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $73.36, for a total transaction of $165,060.00. Following the completion of the transaction, the insider now directly owns 11,490 shares of the company’s stock, valued at $842,906.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Aldrich sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $83.13, for a total transaction of $415,650.00. Following the transaction, the director now directly owns 203,032 shares of the company’s stock, valued at $16,878,050.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,000 shares of company stock worth $3,768,153. Insiders own 0.64% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SWKS. Garrison Point Advisors LLC increased its stake in shares of Skyworks Solutions by 2.2% in the first quarter. Garrison Point Advisors LLC now owns 5,690 shares of the semiconductor manufacturer’s stock worth $469,000 after purchasing an additional 120 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in Skyworks Solutions by 0.3% during the first quarter. Xact Kapitalforvaltning AB now owns 48,916 shares of the semiconductor manufacturer’s stock valued at $4,035,000 after purchasing an additional 124 shares during the last quarter. Capital Investment Counsel Inc lifted its position in Skyworks Solutions by 0.3% during the first quarter. Capital Investment Counsel Inc now owns 42,646 shares of the semiconductor manufacturer’s stock valued at $3,517,000 after purchasing an additional 135 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Skyworks Solutions by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,958 shares of the semiconductor manufacturer’s stock valued at $533,000 after purchasing an additional 140 shares during the last quarter. Finally, Montag & Caldwell LLC lifted its position in Skyworks Solutions by 4.2% during the first quarter. Montag & Caldwell LLC now owns 3,489 shares of the semiconductor manufacturer’s stock valued at $288,000 after purchasing an additional 140 shares during the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

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, antenna tuners, 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 locked loops, phase shifters, 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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