BMO Capital Markets Lowers Skyworks Solutions (SWKS) Price Target to $100.00

Skyworks Solutions (NASDAQ:SWKS) had its target price lowered by equities researchers at BMO Capital Markets to $100.00 in a research report issued on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the semiconductor manufacturer’s stock. BMO Capital Markets’ price target points to a potential upside of 30.45% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Cowen reissued a “hold” rating and set a $105.00 price objective (up from $100.00) on shares of Skyworks Solutions in a report on Friday, July 20th. DA Davidson cut their price objective on Skyworks Solutions to $125.00 and set a “buy” rating for the company in a report on Friday, July 20th. B. Riley lifted their price objective on Skyworks Solutions from $116.00 to $125.00 and gave the company a “buy” rating in a report on Friday, July 20th. Canaccord Genuity reissued a “buy” rating and set a $115.00 price objective on shares of Skyworks Solutions in a report on Friday, July 20th. Finally, Morgan Stanley cut their price objective on Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating for the company in a report on Monday, August 6th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company. Skyworks Solutions has an average rating of “Hold” and a consensus target price of $107.79.

SWKS opened at $76.66 on Friday. Skyworks Solutions has a fifty-two week low of $75.15 and a fifty-two week high of $115.98. The firm has a market cap of $14.79 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 0.82 and a beta of 0.64.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.02. Skyworks Solutions had a net margin of 23.78% and a return on equity of 30.31%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the company earned $1.82 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Equities analysts forecast that Skyworks Solutions will post 7.34 EPS for the current fiscal year.

In related news, Director David J. Aldrich sold 10,000 shares of Skyworks Solutions stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $91.30, for a total value of $913,000.00. Following the completion of the transaction, the director now directly owns 152,252 shares of the company’s stock, valued at $13,900,607.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David J. Aldrich sold 3,000 shares of Skyworks Solutions stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $86.25, for a total value of $258,750.00. Following the completion of the transaction, the director now directly owns 144,251 shares of the company’s stock, valued at $12,441,648.75. The disclosure for this sale can be found here. Insiders sold 34,500 shares of company stock valued at $3,126,050 over the last ninety days. 0.47% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in SWKS. Catalyst Capital Advisors LLC bought a new position in shares of Skyworks Solutions in the second quarter valued at about $101,000. Quad Cities Investment Group LLC bought a new position in shares of Skyworks Solutions in the second quarter valued at about $102,000. NEXT Financial Group Inc bought a new position in shares of Skyworks Solutions in the third quarter valued at about $108,000. Polaris Greystone Financial Group LLC raised its holdings in shares of Skyworks Solutions by 4,813.3% in the third quarter. Polaris Greystone Financial Group LLC now owns 1,474 shares of the semiconductor manufacturer’s stock valued at $134,000 after buying an additional 1,444 shares during the last quarter. Finally, Peak Capital Management LLC bought a new position in shares of Skyworks Solutions in the second quarter valued at about $136,000. 80.71% of the stock is owned by institutional investors and hedge funds.

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, 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.

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