Skyworks Solutions (NASDAQ:SWKS) Given New $128.00 Price Target at B. Riley

Skyworks Solutions (NASDAQ:SWKS) had its target price lowered by research analysts at B. Riley from $131.00 to $128.00 in a research note issued on Tuesday, February 6th. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. B. Riley’s price objective would indicate a potential upside of 22.31% from the stock’s current price. B. Riley also issued estimates for Skyworks Solutions’ Q2 2018 earnings at $1.47 EPS, Q3 2018 earnings at $1.59 EPS, Q4 2018 earnings at $1.83 EPS, FY2018 earnings at $6.74 EPS, Q1 2019 earnings at $2.04 EPS, Q2 2019 earnings at $1.77 EPS, Q3 2019 earnings at $1.90 EPS, Q4 2019 earnings at $2.19 EPS and FY2019 earnings at $7.90 EPS.

Several other research analysts have also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating on shares of Skyworks Solutions in a report on Tuesday, February 6th. UBS Group upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets upgraded shares of Skyworks Solutions from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 6th. They noted that the move was a valuation call. Drexel Hamilton reiterated a “buy” rating and set a $128.00 price target on shares of Skyworks Solutions in a report on Monday, February 5th. Finally, Vetr cut shares of Skyworks Solutions from a “sell” rating to a “strong sell” rating and set a $91.21 price target for the company. in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $115.93.

Skyworks Solutions (SWKS) opened at $104.65 on Tuesday. The firm has a market cap of $19,100.00, a P/E ratio of 23.73, a P/E/G ratio of 1.03 and a beta of 0.69. Skyworks Solutions has a twelve month low of $91.60 and a twelve month high of $117.65.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Monday, February 5th. The semiconductor manufacturer reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.09. Skyworks Solutions had a net margin of 21.72% and a return on equity of 30.21%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $1.61 earnings per share. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. research analysts forecast that Skyworks Solutions will post 6.67 earnings per share for the current fiscal year.

Skyworks Solutions announced that its board has approved a stock repurchase plan on Monday, February 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

In related news, CTO Peter L. Gammel sold 7,305 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $96.50, for a total value of $704,932.50. Following the completion of the sale, the chief technology officer now owns 16,285 shares in the company, valued at approximately $1,571,502.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Liam Griffin sold 15,059 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $95.09, for a total transaction of $1,431,960.31. Following the completion of the sale, the insider now owns 62,359 shares of the company’s stock, valued at approximately $5,929,717.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,028 shares of company stock valued at $8,275,780. 0.49% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. Financial Engines Advisors L.L.C. purchased a new position in Skyworks Solutions during the 3rd quarter worth $126,000. WFG Advisors LP raised its position in Skyworks Solutions by 14.8% during the 2nd quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock worth $127,000 after buying an additional 171 shares during the last quarter. Intact Investment Management Inc. purchased a new position in Skyworks Solutions during the 3rd quarter worth $204,000. Round Table Services LLC purchased a new position in Skyworks Solutions during the 3rd quarter worth $204,000. Finally, Park Avenue Securities LLC purchased a new position in Skyworks Solutions during the 3rd quarter worth $211,000. Institutional investors own 81.22% of the company’s stock.

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About Skyworks Solutions

Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.

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