Skyworks Solutions’ (SWKS) Market Perform Rating Reiterated at Charter Equity

Skyworks Solutions (NASDAQ:SWKS)‘s stock had its “market perform” rating reiterated by research analysts at Charter Equity in a research note issued to investors on Friday.

A number of other equities research analysts also recently weighed in on SWKS. ValuEngine downgraded Skyworks Solutions from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 12th. Morgan Stanley decreased their target price on Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating on the stock in a research report on Monday, August 6th. BidaskClub raised Skyworks Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Zacks Investment Research downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $118.00 target price on shares of Skyworks Solutions in a research report on Tuesday, August 7th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $111.87.

Skyworks Solutions stock opened at $83.40 on Friday. The stock has a market capitalization of $14.79 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.82 and a beta of 0.64. Skyworks Solutions has a 52 week low of $79.27 and a 52 week high of $115.98.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, November 8th. The semiconductor manufacturer reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.02. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Skyworks Solutions had a return on equity of 30.31% and a net margin of 23.78%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. On average, research analysts predict that Skyworks Solutions will post 6.61 EPS for the current fiscal year.

In other Skyworks Solutions news, Director David J. Aldrich sold 5,500 shares of Skyworks Solutions stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $90.48, for a total transaction of $497,640.00. Following the sale, the director now directly owns 147,752 shares of the company’s stock, valued at $13,368,600.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Aldrich sold 10,000 shares of Skyworks Solutions stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $92.89, for a total value of $928,900.00. Following the sale, the director now directly owns 152,252 shares in the company, valued at $14,142,688.28. The disclosure for this sale can be found here. Insiders have sold 34,500 shares of company stock worth $3,126,050 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its stake in shares of Skyworks Solutions by 4.7% in the third quarter. Janus Henderson Group PLC now owns 50,936 shares of the semiconductor manufacturer’s stock valued at $4,621,000 after acquiring an additional 2,278 shares during the last quarter. CQS Cayman LP raised its stake in shares of Skyworks Solutions by 13.6% in the third quarter. CQS Cayman LP now owns 6,250 shares of the semiconductor manufacturer’s stock valued at $567,000 after acquiring an additional 750 shares during the last quarter. Letko Brosseau & Associates Inc. raised its stake in shares of Skyworks Solutions by 278.8% in the third quarter. Letko Brosseau & Associates Inc. now owns 339,402 shares of the semiconductor manufacturer’s stock valued at $30,787,000 after acquiring an additional 249,802 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in shares of Skyworks Solutions by 10.3% in the third quarter. Royal London Asset Management Ltd. now owns 125,566 shares of the semiconductor manufacturer’s stock valued at $11,391,000 after acquiring an additional 11,723 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Skyworks Solutions by 2.7% in the third quarter. Alliancebernstein L.P. now owns 485,939 shares of the semiconductor manufacturer’s stock valued at $44,080,000 after acquiring an additional 12,932 shares during the last quarter. 80.71% of the stock is currently owned by institutional investors.

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, 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 shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

Further Reading: Why investors pay attention to retained earnings

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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