Vetr Lowers Skyworks Solutions (SWKS) to Buy

Skyworks Solutions (NASDAQ:SWKS) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday, January 3rd. They currently have a $108.40 price target on the semiconductor manufacturer’s stock. Vetr‘s price target would indicate a potential upside of 8.49% from the company’s previous close.

A number of other equities analysts also recently commented on SWKS. Citigroup upgraded Skyworks Solutions from a “sell” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Tuesday, September 5th. Instinet assumed 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. Zacks Investment Research upgraded Skyworks Solutions from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research note on Monday, September 11th. KeyCorp reiterated an “overweight” rating on shares of Skyworks Solutions in a research note on Thursday, September 14th. Finally, Craig Hallum reiterated a “buy” rating on shares of Skyworks Solutions in a research note on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $116.09.

Skyworks Solutions (NASDAQ:SWKS) traded up $1.32 during trading on Wednesday, hitting $99.92. The stock had a trading volume of 1,594,813 shares, compared to its average volume of 2,460,000. The stock has a market cap of $18,360.00, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 1.01 and a beta of 0.83. Skyworks Solutions has a 52 week low of $74.67 and a 52 week high of $117.65.

In other Skyworks Solutions news, SVP Carlos S. Bori sold 2,151 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $107.20, for a total transaction of $230,587.20. Following the completion of the sale, the senior vice president now owns 9,372 shares in the company, valued at approximately $1,004,678.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Laura A. Gasparini sold 12,132 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $110.53, for a total value of $1,340,949.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 161,864 shares of company stock valued at $17,246,539. 0.49% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in Skyworks Solutions by 69.2% during the 3rd quarter. Van ECK Associates Corp now owns 307,568 shares of the semiconductor manufacturer’s stock worth $31,341,000 after buying an additional 125,792 shares during the last quarter. Pinebridge Investments L.P. lifted its holdings in Skyworks Solutions by 88.2% during the 3rd quarter. Pinebridge Investments L.P. now owns 108,618 shares of the semiconductor manufacturer’s stock worth $11,069,000 after buying an additional 50,898 shares during the last quarter. Union Bankshares Corp bought a new position in Skyworks Solutions during the 4th quarter worth approximately $1,912,000. First Interstate Bank lifted its holdings in Skyworks Solutions by 6.3% during the 3rd quarter. First Interstate Bank now owns 79,681 shares of the semiconductor manufacturer’s stock worth $8,120,000 after buying an additional 4,740 shares during the last quarter. Finally, Systematic Financial Management LP bought a new position in Skyworks Solutions during the 3rd quarter worth approximately $1,140,000. 81.55% of the stock is currently owned by institutional investors.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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