BMO Capital Markets Increases Skyworks Solutions (SWKS) Price Target to $94.00

Skyworks Solutions (NASDAQ:SWKS) had its price objective hoisted by analysts at BMO Capital Markets to $94.00 in a report released on Wednesday, The Fly reports. The brokerage presently has a “positive” rating on the semiconductor manufacturer’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 9.56% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Cowen increased their price target on Skyworks Solutions from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Wednesday. B. Riley increased their price target on Skyworks Solutions from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday. Goldman Sachs Group upgraded Skyworks Solutions from a “neutral” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Wednesday. BidaskClub downgraded Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Finally, UBS Group began coverage on Skyworks Solutions in a report on Thursday, December 6th. They issued a “neutral” rating and a $70.00 price target on the stock. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. Skyworks Solutions currently has an average rating of “Hold” and an average target price of $93.70.

SWKS stock traded up $9.83 during midday trading on Wednesday, reaching $85.79. 4,971,583 shares of the company traded hands, compared to its average volume of 1,835,106. Skyworks Solutions has a 52-week low of $60.12 and a 52-week high of $115.98. The company has a market cap of $13.03 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.08 and a beta of 0.73.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.12. Skyworks Solutions had a return on equity of 30.59% and a net margin of 23.74%. The firm had revenue of $972.00 million for the quarter, compared to the consensus estimate of $974.70 million. During the same period in the prior year, the business posted $2.00 earnings per share. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. Equities research analysts expect that Skyworks Solutions will post 6.29 earnings per share for the current fiscal year.

Skyworks Solutions declared that its board has approved a stock repurchase program on Tuesday, February 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 15.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

In other Skyworks Solutions news, CTO Peter L. Gammel sold 2,652 shares of the firm’s stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $68.45, for a total transaction of $181,529.40. Following the transaction, the chief technology officer now directly owns 15,123 shares in the company, valued at approximately $1,035,169.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC bought a new stake in Skyworks Solutions during the 4th quarter valued at $39,000. First Hawaiian Bank boosted its position in Skyworks Solutions by 251.9% during the 4th quarter. First Hawaiian Bank now owns 475 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 340 shares in the last quarter. Legacy Bridge LLC bought a new stake in Skyworks Solutions during the 4th quarter valued at $65,000. Capital Investment Advisory Services LLC bought a new stake in Skyworks Solutions during the 4th quarter valued at $67,000. Finally, NEXT Financial Group Inc acquired a new stake in shares of Skyworks Solutions in the 3rd quarter worth $108,000. Institutional investors own 82.26% 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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