Skyworks Solutions (NASDAQ:SWKS) Upgraded at Cowen

Skyworks Solutions (NASDAQ:SWKS) was upgraded by equities research analysts at Cowen from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, MarketBeat reports. The brokerage presently has a $95.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $80.00. Cowen’s price objective points to a potential upside of 11.24% from the stock’s current price.

Several other research analysts also recently weighed in on SWKS. BMO Capital Markets dropped their price target on Skyworks Solutions from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Benchmark assumed coverage on Skyworks Solutions in a research note on Friday, September 20th. They issued a “buy” rating and a $94.00 price target for the company. Raymond James upgraded Skyworks Solutions from a “market perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Thursday, July 18th. Zacks Investment Research downgraded Skyworks Solutions from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 7th. Finally, Craig Hallum upped their price target on Skyworks Solutions from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $87.21.

SWKS stock opened at $85.40 on Thursday. Skyworks Solutions has a 1-year low of $60.12 and a 1-year high of $94.39. The company has a market capitalization of $13.86 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.70 and a beta of 1.04. The business has a 50 day simple moving average of $78.58 and a two-hundred day simple moving average of $79.46.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.14. Skyworks Solutions had a return on equity of 26.60% and a net margin of 26.10%. The business had revenue of $767.00 million during the quarter, compared to the consensus estimate of $767.71 million. During the same period in the prior year, the company posted $1.64 EPS. The firm’s revenue for the quarter was down 14.2% compared to the same quarter last year. On average, equities analysts predict that Skyworks Solutions will post 5.72 EPS for the current fiscal year.

In other news, SVP Robert John Terry sold 3,250 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $79.68, for a total transaction of $258,960.00. Following the completion of the transaction, the senior vice president now directly owns 15,326 shares in the company, valued at approximately $1,221,175.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David J. Aldrich sold 10,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $85.88, for a total value of $858,800.00. Following the sale, the director now owns 213,032 shares in the company, valued at approximately $18,295,188.16. The disclosure for this sale can be found here. Insiders have sold a total of 32,749 shares of company stock valued at $2,701,484 over the last quarter. Corporate insiders own 0.64% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Skyworks Solutions by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 18,657,776 shares of the semiconductor manufacturer’s stock valued at $1,441,686,000 after buying an additional 93,644 shares during the period. BlackRock Inc. raised its holdings in Skyworks Solutions by 4.1% during the 2nd quarter. BlackRock Inc. now owns 13,205,789 shares of the semiconductor manufacturer’s stock valued at $1,020,412,000 after buying an additional 519,218 shares during the period. AQR Capital Management LLC raised its holdings in Skyworks Solutions by 26.4% during the 2nd quarter. AQR Capital Management LLC now owns 3,708,676 shares of the semiconductor manufacturer’s stock valued at $286,347,000 after buying an additional 775,470 shares during the period. FMR LLC raised its holdings in Skyworks Solutions by 63.8% during the 1st quarter. FMR LLC now owns 3,517,246 shares of the semiconductor manufacturer’s stock valued at $290,102,000 after buying an additional 1,370,337 shares during the period. Finally, Invesco Ltd. raised its holdings in Skyworks Solutions by 2.2% during the 2nd quarter. Invesco Ltd. now owns 2,737,563 shares of the semiconductor manufacturer’s stock valued at $211,532,000 after buying an additional 58,070 shares during the period. Institutional investors own 80.55% 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, 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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