BMO Capital Markets Increases Skyworks Solutions (NASDAQ:SWKS) Price Target to $120.00

Skyworks Solutions (NASDAQ:SWKS) had its target price boosted by BMO Capital Markets to $120.00 in a report published on Tuesday, The Fly reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently commented on SWKS. Raymond James raised Skyworks Solutions from a market perform rating to an outperform rating and set a $90.00 price target for the company in a report on Thursday, July 18th. Craig Hallum upped their price objective on Skyworks Solutions from $85.00 to $90.00 and gave the company a buy rating in a research note on Thursday, August 8th. B. Riley upped their price objective on Skyworks Solutions from $95.00 to $105.00 and gave the company a buy rating in a research note on Friday, November 1st. Benchmark assumed coverage on Skyworks Solutions in a research note on Friday, September 20th. They set a buy rating and a $94.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on Skyworks Solutions from $78.00 to $97.00 and gave the company an equal weight rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $99.92.

SWKS stock traded up $0.67 during trading on Tuesday, reaching $99.42. 2,686,200 shares of the stock traded hands, compared to its average volume of 2,110,890. The firm has a market capitalization of $17.37 billion, a PE ratio of 17.41, a P/E/G ratio of 2.12 and a beta of 1.06. Skyworks Solutions has a 52-week low of $60.12 and a 52-week high of $102.87. The business’s 50 day moving average price is $88.74 and its 200-day moving average price is $80.49.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Monday, December 2nd. Skyworks Solutions’s payout ratio is 30.82%.

In other news, Director David J. Aldrich sold 10,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $99.07, for a total transaction of $990,700.00. Following the sale, the director now directly owns 213,032 shares in the company, valued at approximately $21,105,080.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Liam Griffin sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $99.01, for a total value of $1,980,200.00. Following the sale, the chief executive officer now owns 80,692 shares in the company, valued at $7,989,314.92. The disclosure for this sale can be found here. Insiders have sold a total of 74,884 shares of company stock worth $7,259,277 over the last quarter. Insiders own 0.64% of the company’s stock.

Several institutional investors have recently made changes to their positions in SWKS. Fulton Bank N.A. raised its position in shares of Skyworks Solutions by 5.2% during the 2nd quarter. Fulton Bank N.A. now owns 19,895 shares of the semiconductor manufacturer’s stock worth $1,537,000 after purchasing an additional 982 shares during the period. DNB Asset Management AS raised its position in shares of Skyworks Solutions by 195.3% during the 2nd quarter. DNB Asset Management AS now owns 835,404 shares of the semiconductor manufacturer’s stock worth $64,552,000 after purchasing an additional 552,548 shares during the period. WINTON GROUP Ltd raised its position in shares of Skyworks Solutions by 29.9% during the 2nd quarter. WINTON GROUP Ltd now owns 176,535 shares of the semiconductor manufacturer’s stock worth $13,641,000 after purchasing an additional 40,627 shares during the period. Bangor Savings Bank raised its position in shares of Skyworks Solutions by 3.2% during the 2nd quarter. Bangor Savings Bank now owns 10,701 shares of the semiconductor manufacturer’s stock worth $827,000 after purchasing an additional 333 shares during the period. Finally, Rowland & Co. Investment Counsel ADV grew its holdings in Skyworks Solutions by 22.4% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 13,293 shares of the semiconductor manufacturer’s stock worth $1,030,000 after buying an additional 2,430 shares in the last quarter. Institutional investors and hedge funds own 82.01% 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.

Read More: Stock Symbols and CUSIP Explained

The Fly

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

Receive News & Ratings for Skyworks Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skyworks Solutions and related companies with MarketBeat.com's FREE daily email newsletter.