Brokerages Set Skyworks Solutions (SWKS) Price Target at $117.01

Shares of Skyworks Solutions (NASDAQ:SWKS) have been given a consensus rating of “Buy” by the thirty ratings firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $117.01.

SWKS has been the topic of a number of recent analyst reports. Piper Jaffray reiterated a “buy” rating and issued a $115.00 target price on shares of Skyworks Solutions in a research report on Wednesday, December 27th. BidaskClub cut Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Vetr cut Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $108.40 target price on the stock. in a research report on Wednesday, January 3rd. Zacks Investment Research cut Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Finally, Canaccord Genuity reissued a “buy” rating and set a $115.00 price target on shares of Skyworks Solutions in a research note on Wednesday, January 24th.

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Skyworks Solutions stock traded down $2.70 during midday trading on Wednesday, reaching $91.18. The company’s stock had a trading volume of 5,064,647 shares, compared to its average volume of 1,727,458. Skyworks Solutions has a 52 week low of $90.38 and a 52 week high of $117.65. The stock has a market cap of $17,101.69, a PE ratio of 15.25, a P/E/G ratio of 0.93 and a beta of 0.63.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Monday, February 5th. The semiconductor manufacturer reported $2.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.09. Skyworks Solutions had a return on equity of 30.21% and a net margin of 21.72%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $1.61 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. research analysts forecast that Skyworks Solutions will post 6.67 earnings per share for the current year.

Skyworks Solutions declared that its board has approved a share buyback program on Monday, February 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

In other Skyworks Solutions news, insider Peter L. Gammel sold 9,000 shares of Skyworks Solutions stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $99.19, for a total value of $892,710.00. Following the completion of the sale, the insider now directly owns 21,420 shares in the company, valued at $2,124,649.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Peter L. Gammel sold 12,500 shares of Skyworks Solutions stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $103.96, for a total value of $1,299,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,250 shares of company stock worth $10,523,768. 0.47% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of SWKS. Janney Montgomery Scott LLC increased its holdings in Skyworks Solutions by 3.3% in the third quarter. Janney Montgomery Scott LLC now owns 19,566 shares of the semiconductor manufacturer’s stock worth $1,994,000 after purchasing an additional 626 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Skyworks Solutions in the third quarter worth approximately $375,000. Parametric Portfolio Associates LLC increased its holdings in Skyworks Solutions by 2.0% in the third quarter. Parametric Portfolio Associates LLC now owns 542,917 shares of the semiconductor manufacturer’s stock worth $55,323,000 after purchasing an additional 10,809 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in Skyworks Solutions in the fourth quarter worth approximately $940,000. Finally, Polianta Ltd increased its holdings in Skyworks Solutions by 8.8% in the fourth quarter. Polianta Ltd now owns 12,300 shares of the semiconductor manufacturer’s stock worth $1,167,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 83.32% of the company’s stock.

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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.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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