Skyworks Solutions Inc (NASDAQ:SWKS) Chairman David J. Aldrich sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $106.00, for a total transaction of $3,180,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Skyworks Solutions Inc (NASDAQ:SWKS) opened at $108.23 on Friday. The stock has a market cap of $19,750.00, a P/E ratio of 18.34, a PEG ratio of 1.05 and a beta of 0.69. Skyworks Solutions Inc has a 1 year low of $93.02 and a 1 year high of $117.65.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Monday, February 5th. The semiconductor manufacturer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.09. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Skyworks Solutions had a net margin of 21.72% and a return on equity of 30.21%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 earnings per share. equities analysts expect that Skyworks Solutions Inc will post 6.67 earnings per share for the current fiscal year.
Skyworks Solutions announced that its board has initiated a stock repurchase plan on Monday, February 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Several institutional investors have recently added to or reduced their stakes in SWKS. Financial Engines Advisors L.L.C. bought a new stake in shares of Skyworks Solutions during the third quarter valued at approximately $126,000. Dynamic Technology Lab Private Ltd bought a new stake in Skyworks Solutions in the second quarter worth $202,000. Intact Investment Management Inc. bought a new stake in Skyworks Solutions in the third quarter worth $204,000. Park Avenue Securities LLC bought a new stake in Skyworks Solutions in the third quarter worth $211,000. Finally, Checchi Capital Advisers LLC bought a new stake in Skyworks Solutions in the fourth quarter worth $224,000. Hedge funds and other institutional investors own 81.06% of the company’s stock.
SWKS has been the topic of a number of research reports. Vetr downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $114.92 price objective on the stock. in a report on Monday, October 30th. BMO Capital Markets reissued a “hold” rating and issued a $100.00 price objective on shares of Skyworks Solutions in a report on Monday, November 6th. DA Davidson reissued a “buy” rating and issued a $130.00 price objective on shares of Skyworks Solutions in a report on Tuesday, November 7th. Drexel Hamilton reissued a “buy” rating and issued a $128.00 price objective (up previously from $120.00) on shares of Skyworks Solutions in a report on Tuesday, November 7th. Finally, Needham & Company LLC raised their target price on shares of Skyworks Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $115.93.
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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