Skyworks Solutions (SWKS) Price Target Raised to $120.00 at Canaccord Genuity

Skyworks Solutions (NASDAQ:SWKS) had its price objective lifted by Canaccord Genuity from $115.00 to $120.00 in a research note issued to investors on Tuesday. They currently have a buy rating on the semiconductor manufacturer’s stock.

Other equities research analysts have also issued reports about the stock. Bank of America boosted their price objective on shares of Skyworks Solutions from $120.00 to $125.00 in a report on Tuesday, November 7th. Vetr upgraded shares of Skyworks Solutions from a hold rating to a buy rating and set a $118.57 price objective for the company in a report on Tuesday, November 7th. Mizuho restated a buy rating on shares of Skyworks Solutions in a report on Tuesday, November 7th. B. Riley restated a buy rating and issued a $131.00 price objective on shares of Skyworks Solutions in a report on Tuesday, November 7th. Finally, Needham & Company LLC boosted their price objective on shares of Skyworks Solutions from $110.00 to $120.00 and gave the stock a buy rating in a report on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, four have given a hold rating and twenty-four have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $115.93.

Shares of Skyworks Solutions (NASDAQ:SWKS) opened at $102.64 on Tuesday. Skyworks Solutions has a 1 year low of $90.53 and a 1 year high of $117.65. The stock has a market cap of $18,860.00, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 1.01 and a beta of 0.69.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Monday, February 5th. The semiconductor manufacturer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.09. Skyworks Solutions had a net margin of 21.72% and a return on equity of 30.21%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business posted $1.61 earnings per share. Skyworks Solutions’s revenue for the quarter was up 15.0% on a year-over-year basis. equities analysts expect that Skyworks Solutions will post 6.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 22nd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Wednesday, February 21st. Skyworks Solutions’s payout ratio is currently 29.02%.

Skyworks Solutions declared that its Board of Directors has initiated a share buyback plan on Monday, February 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In other Skyworks Solutions news, CEO Liam Griffin sold 11,285 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $109.68, for a total transaction of $1,237,738.80. Following the transaction, the chief executive officer now directly owns 57,332 shares of the company’s stock, valued at approximately $6,288,173.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Peter L. Gammel sold 7,800 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $100.60, for a total transaction of $784,680.00. Following the transaction, the insider now directly owns 12,680 shares in the company, valued at $1,275,608. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,523 shares of company stock worth $16,684,175. Insiders own 0.49% of the company’s stock.

A number of institutional investors have recently modified their holdings of SWKS. BlackRock Inc. grew its position in shares of Skyworks Solutions by 8.9% in the 4th quarter. BlackRock Inc. now owns 13,206,360 shares of the semiconductor manufacturer’s stock worth $1,253,946,000 after buying an additional 1,076,214 shares during the period. Manning & Napier Advisors LLC grew its position in shares of Skyworks Solutions by 9.3% in the 3rd quarter. Manning & Napier Advisors LLC now owns 2,190,222 shares of the semiconductor manufacturer’s stock worth $223,182,000 after buying an additional 186,077 shares during the period. Old Mutual Global Investors UK Ltd. grew its position in shares of Skyworks Solutions by 15.9% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,936,981 shares of the semiconductor manufacturer’s stock worth $183,916,000 after buying an additional 266,106 shares during the period. APG Asset Management N.V. grew its position in shares of Skyworks Solutions by 17.2% in the 4th quarter. APG Asset Management N.V. now owns 1,508,526 shares of the semiconductor manufacturer’s stock worth $119,283,000 after buying an additional 221,587 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in shares of Skyworks Solutions by 9.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,154,621 shares of the semiconductor manufacturer’s stock worth $109,631,000 after buying an additional 104,083 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.

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Skyworks Solutions Company Profile

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.

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