Cascend Securities Boosts Skyworks Solutions (NASDAQ:SWKS) Price Target to $130.00

Skyworks Solutions (NASDAQ:SWKS) had its target price raised by Cascend Securities from $115.00 to $130.00 in a research note issued on Monday, January 6th, MarketBeat reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Cascend Securities’ price objective would suggest a potential upside of 5.85% from the company’s previous close.

SWKS has been the topic of a number of other reports. Craig Hallum increased their price objective on shares of Skyworks Solutions from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. ValuEngine raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Raymond James reiterated an “outperform” rating and set a $110.00 price target (up previously from $90.00) on shares of Skyworks Solutions in a report on Wednesday, November 13th. Cowen reiterated an “outperform” rating and set a $105.00 price target (up previously from $95.00) on shares of Skyworks Solutions in a report on Wednesday, November 13th. They noted that the move was a valuation call. Finally, Mizuho upped their price target on shares of Skyworks Solutions from $76.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $103.87.

Skyworks Solutions stock traded up $2.39 during mid-day trading on Monday, hitting $122.82. The stock had a trading volume of 573,668 shares, compared to its average volume of 1,965,275. The firm has a market capitalization of $20.52 billion, a P/E ratio of 21.51, a P/E/G ratio of 1.48 and a beta of 1.12. The firm’s 50 day moving average is $113.37 and its 200 day moving average is $91.30. Skyworks Solutions has a one year low of $66.29 and a one year high of $125.75.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.02. Skyworks Solutions had a net margin of 25.28% and a return on equity of 24.41%. The company had revenue of $827.00 million during the quarter, compared to the consensus estimate of $824.01 million. During the same quarter in the prior year, the firm posted $1.94 EPS. Skyworks Solutions’s quarterly revenue was down 18.0% compared to the same quarter last year. On average, research analysts predict that Skyworks Solutions will post 5.82 earnings per share for the current year.

In other news, SVP Robert John Terry sold 2,253 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $90.00, for a total value of $202,770.00. Following the completion of the transaction, the senior vice president now directly owns 14,329 shares of the company’s stock, valued at $1,289,610. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David J. Aldrich sold 40,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $97.47, for a total value of $3,898,800.00. Following the completion of the transaction, the director now directly owns 213,032 shares of the company’s stock, valued at $20,764,229.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,694 shares of company stock worth $26,941,663. Corporate insiders own 0.64% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Mechanics Bank Trust Department purchased a new position in Skyworks Solutions in the 3rd quarter worth approximately $25,000. Squar Milner Financial Services LLC raised its holdings in Skyworks Solutions by 492.6% in the 3rd quarter. Squar Milner Financial Services LLC now owns 320 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 266 shares during the last quarter. Allred Capital Management LLC purchased a new position in Skyworks Solutions in the 4th quarter worth approximately $27,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Skyworks Solutions during the 3rd quarter valued at $32,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in Skyworks Solutions during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 83.03% of the company’s stock.

About Skyworks Solutions

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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Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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