Skyworks Solutions (NASDAQ:SWKS) Given Buy Rating at Canaccord Genuity

Skyworks Solutions (NASDAQ:SWKS)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity in a note issued to investors on Wednesday, June 5th, MarketBeat Ratings reports. They currently have a $83.00 price target on the semiconductor manufacturer’s stock, down from their previous price target of $90.00. Canaccord Genuity’s price target would suggest a potential upside of 7.42% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Goldman Sachs Group raised Skyworks Solutions from a “neutral” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Wednesday, February 6th. BidaskClub raised Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Mizuho reissued a “hold” rating and set a $89.00 price target on shares of Skyworks Solutions in a report on Friday, May 3rd. B. Riley raised their price target on Skyworks Solutions from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, February 6th. Finally, TheStreet raised Skyworks Solutions from a “c+” rating to a “b-” rating in a report on Wednesday, February 27th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. Skyworks Solutions has a consensus rating of “Hold” and an average price target of $86.38.

SWKS traded up $0.32 during trading hours on Wednesday, hitting $77.27. 1,251,515 shares of the stock were exchanged, compared to its average volume of 2,081,947. The stock has a 50-day simple moving average of $72.48. Skyworks Solutions has a 12 month low of $60.12 and a 12 month high of $103.95. The firm has a market capitalization of $13.41 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.41 and a beta of 0.91.

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

In related news, insider Liam Griffin sold 18,250 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $92.05, for a total value of $1,679,912.50. Following the transaction, the insider now directly owns 79,913 shares of the company’s stock, valued at approximately $7,355,991.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Peter L. Gammel sold 1,881 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $93.53, for a total value of $175,929.93. Following the completion of the transaction, the chief technology officer now directly owns 9,240 shares in the company, valued at $864,217.20. The disclosure for this sale can be found here. Insiders have sold a total of 121,714 shares of company stock valued at $10,493,640 over the last 90 days. Corporate insiders own 0.64% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Teachers Advisors LLC raised its position in shares of Skyworks Solutions by 25.9% in the 3rd quarter. Teachers Advisors LLC now owns 449,644 shares of the semiconductor manufacturer’s stock worth $40,787,000 after acquiring an additional 92,408 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Skyworks Solutions in the 4th quarter valued at about $832,000. Keybank National Association OH increased its position in Skyworks Solutions by 3.8% in the 4th quarter. Keybank National Association OH now owns 4,992 shares of the semiconductor manufacturer’s stock valued at $335,000 after buying an additional 182 shares in the last quarter. Advisors Asset Management Inc. increased its position in Skyworks Solutions by 42.7% in the 4th quarter. Advisors Asset Management Inc. now owns 4,407 shares of the semiconductor manufacturer’s stock valued at $295,000 after buying an additional 1,319 shares in the last quarter. Finally, TD Asset Management Inc. increased its position in Skyworks Solutions by 5.4% in the 4th quarter. TD Asset Management Inc. now owns 193,557 shares of the semiconductor manufacturer’s stock valued at $12,972,000 after buying an additional 9,871 shares in the last quarter. 81.01% of the stock is currently owned by institutional investors and hedge funds.

About Skyworks Solutions

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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