Needham & Company LLC Lowers Skyworks Solutions (SWKS) Price Target to $77.00

Skyworks Solutions (NASDAQ:SWKS) had its target price cut by equities researchers at Needham & Company LLC to $77.00 in a research report issued on Thursday, January 3rd, The Fly reports. The firm currently has a “sell” rating on the semiconductor manufacturer’s stock. Needham & Company LLC’s price target would indicate a potential upside of 9.97% from the stock’s current price. The analysts noted that the move was a valuation call.

A number of other brokerages have also weighed in on SWKS. TheStreet lowered shares of Skyworks Solutions from a “b-” rating to a “c+” rating in a research note on Friday, November 30th. Canaccord Genuity cut their price objective on shares of Skyworks Solutions from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, November 9th. Citigroup downgraded shares of Skyworks Solutions from a “buy” rating to a “neutral” rating in a report on Monday, November 12th. Oppenheimer cut their price objective on shares of Skyworks Solutions from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, November 9th. Finally, Charter Equity reiterated a “market perform” rating on shares of Skyworks Solutions in a report on Friday, November 9th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $94.62.

Shares of SWKS stock opened at $70.02 on Thursday. The firm has a market cap of $12.02 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.92 and a beta of 0.66. Skyworks Solutions has a 12-month low of $60.12 and a 12-month high of $115.98.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Thursday, November 8th. The semiconductor manufacturer reported $1.94 EPS for the quarter, beating the consensus estimate of $1.92 by $0.02. Skyworks Solutions had a net margin of 23.74% and a return on equity of 30.59%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the company earned $1.82 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Skyworks Solutions will post 6.67 EPS for the current year.

In other Skyworks Solutions news, Director David J. Aldrich sold 3,000 shares of Skyworks Solutions stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $86.25, for a total value of $258,750.00. Following the transaction, the director now directly owns 144,251 shares in the company, valued at $12,441,648.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.47% of the company’s stock.

Several institutional investors have recently modified their holdings of SWKS. First Hawaiian Bank boosted its holdings in Skyworks Solutions by 251.9% during the fourth quarter. First Hawaiian Bank now owns 475 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 340 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Skyworks Solutions by 12.9% in the fourth quarter. State of Alaska Department of Revenue now owns 42,732 shares of the semiconductor manufacturer’s stock valued at $2,862,000 after purchasing an additional 4,879 shares in the last quarter. Cerebellum GP LLC lifted its holdings in shares of Skyworks Solutions by 85.5% in the fourth quarter. Cerebellum GP LLC now owns 3,770 shares of the semiconductor manufacturer’s stock valued at $253,000 after purchasing an additional 1,738 shares in the last quarter. Kempner Capital Management Inc. purchased a new stake in shares of Skyworks Solutions in the fourth quarter valued at about $3,272,000. Finally, Fulton Bank N.A. lifted its holdings in shares of Skyworks Solutions by 3.8% in the fourth quarter. Fulton Bank N.A. now owns 19,058 shares of the semiconductor manufacturer’s stock valued at $1,277,000 after purchasing an additional 695 shares in the last quarter. Institutional investors and hedge funds own 80.53% of the company’s stock.

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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