Skyworks Solutions Inc (SWKS) Price Target Increased to $115.00 by Analysts at Cowen and Company

Skyworks Solutions Inc (NASDAQ:SWKS) had its target price boosted by Cowen and Company from $110.00 to $115.00 in a research note issued on Tuesday, October 10th, MarketBeat Ratings reports. The firm presently has a “market perform” rating on the semiconductor manufacturer’s stock. Cowen and Company’s price objective suggests a potential upside of 11.30% from the company’s current price.

A number of other research firms have also issued reports on SWKS. Vetr upgraded Skyworks Solutions from a “hold” rating to a “buy” rating and set a $113.68 target price for the company in a research note on Monday, June 12th. Instinet initiated coverage on Skyworks Solutions in a research note on Wednesday, September 6th. They issued a “buy” rating and a $115.00 target price for the company. BidaskClub upgraded Skyworks Solutions from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Argus initiated coverage on Skyworks Solutions in a research note on Thursday, July 6th. They set a “buy” rating and a $120.00 price objective for the company. Finally, Zacks Investment Research lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $112.40.

Shares of Skyworks Solutions (SWKS) traded up 1.13% during trading on Tuesday, reaching $104.49. 390,355 shares of the company’s stock traded hands. The stock has a market cap of $19.20 billion, a P/E ratio of 20.06 and a beta of 0.89. Skyworks Solutions has a one year low of $71.65 and a one year high of $112.11. The company has a 50 day moving average price of $104.82 and a 200-day moving average price of $103.33.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. The company had revenue of $900.80 million for the quarter, compared to the consensus estimate of $890.58 million. Skyworks Solutions had a return on equity of 25.68% and a net margin of 27.33%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the business posted $1.24 EPS. On average, equities research analysts expect that Skyworks Solutions will post $6.39 EPS for the current fiscal year.

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In related news, insider Liam Griffin sold 8,056 shares of Skyworks Solutions stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $105.31, for a total transaction of $848,377.36. Following the completion of the sale, the insider now owns 54,310 shares of the company’s stock, valued at $5,719,386.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christine King sold 3,705 shares of Skyworks Solutions stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total value of $395,768.10. Following the sale, the director now directly owns 16,641 shares of the company’s stock, valued at approximately $1,777,591.62. The disclosure for this sale can be found here. Insiders have sold 28,229 shares of company stock worth $2,921,104 in the last quarter. 0.49% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fulton Bank N.A. lifted its position in shares of Skyworks Solutions by 14.3% during the 3rd quarter. Fulton Bank N.A. now owns 21,813 shares of the semiconductor manufacturer’s stock worth $2,222,000 after purchasing an additional 2,731 shares during the last quarter. Eqis Capital Management Inc. lifted its position in shares of Skyworks Solutions by 10.6% during the 3rd quarter. Eqis Capital Management Inc. now owns 13,226 shares of the semiconductor manufacturer’s stock worth $1,348,000 after purchasing an additional 1,271 shares during the last quarter. Achmea Investment Management B.V. lifted its position in shares of Skyworks Solutions by 10.5% during the 2nd quarter. Achmea Investment Management B.V. now owns 23,163 shares of the semiconductor manufacturer’s stock worth $2,218,000 after purchasing an additional 2,202 shares during the last quarter. Kimelman & Baird LLC lifted its position in shares of Skyworks Solutions by 0.7% during the 2nd quarter. Kimelman & Baird LLC now owns 101,758 shares of the semiconductor manufacturer’s stock worth $9,764,000 after purchasing an additional 675 shares during the last quarter. Finally, WFG Advisors LP lifted its position in shares of Skyworks Solutions by 14.8% during the 2nd quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock worth $127,000 after purchasing an additional 171 shares during the last quarter. 80.82% of the stock is owned by institutional investors and hedge funds.

About Skyworks Solutions

Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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