Skyworks Solutions (NASDAQ:SWKS) Upgraded to Buy at Bank of America

Skyworks Solutions (NASDAQ:SWKS) was upgraded by analysts at Bank of America from an “underperform” rating to a “buy” rating in a research report issued to clients and investors on Monday, The Fly reports.

Several other research firms have also commented on SWKS. Loop Capital upped their target price on Skyworks Solutions to $120.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. ValuEngine raised Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Craig Hallum boosted their price objective on Skyworks Solutions from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. BidaskClub upgraded Skyworks Solutions from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Raymond James restated an “outperform” rating and set a $110.00 price objective (up from $90.00) on shares of Skyworks Solutions in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Skyworks Solutions currently has a consensus rating of “Buy” and a consensus price target of $95.95.

NASDAQ SWKS opened at $101.36 on Monday. Skyworks Solutions has a one year low of $60.12 and a one year high of $102.87. The company has a 50-day simple moving average of $96.06 and a 200-day simple moving average of $82.14. The firm has a market capitalization of $17.27 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data 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 firm had revenue of $827.00 million for the quarter, compared to analyst estimates of $824.01 million. During the same quarter in the prior year, the business earned $1.94 earnings per share. Skyworks Solutions’s quarterly revenue was down 18.0% on a year-over-year basis. Equities research analysts expect that Skyworks Solutions will post 5.84 earnings per share for the current year.

In other news, Director David J. Aldrich sold 40,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were 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 in the company, valued at $20,764,229.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert John Terry sold 1,483 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $100.00, for a total transaction of $148,300.00. Following the completion of the transaction, the senior vice president now owns 15,132 shares of the company’s stock, valued at $1,513,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,884 shares of company stock worth $13,793,397. Company insiders own 0.64% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Mechanics Bank Trust Department bought a new position in Skyworks Solutions during the 3rd quarter valued at $25,000. Squar Milner Financial Services LLC increased its position in shares of Skyworks Solutions by 492.6% during the 3rd quarter. Squar Milner Financial Services LLC now owns 320 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 266 shares during the period. Next Capital Management LLC raised its stake in shares of Skyworks Solutions by 118.7% in the 2nd quarter. Next Capital Management LLC now owns 339 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 184 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Skyworks Solutions in the third quarter valued at $32,000. Finally, Stonebridge Capital Advisors LLC acquired a new stake in shares of Skyworks Solutions in the second quarter valued at $37,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

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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