Skyworks Solutions Inc (SWKS) was Downgraded by Citigroup to ” Sell” while Lowering the Price Target of the company shares to $ 65 from a previous price target of $69.50 . Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Jun 9, 2016.
Many Wall Street Analysts have commented on Skyworks Solutions Inc. Skyworks Solutions Inc was Initiated by Credit Agricole to “Underperform” on May 25, 2016. Shares were Reiterated by Mizuho on Apr 29, 2016 to “Buy” and Lowered the Price Target to $ 99 from a previous price target of $105 .Shares were Reiterated by Cowen on Apr 29, 2016 to “Market Perform” and Lowered the Price Target to $ 76 from a previous price target of $78 .
On the company’s financial health, Skyworks Solutions Inc reported $1.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.24. The company had revenue of $775.10 million for the quarter, compared to analysts expectations of $775.49 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS.
Skyworks Solutions Inc opened for trading at $66.39 and hit $68.96 on the upside on Tuesday, eventually ending the session at $68.67, with a gain of 3.87% or 2.56 points. The heightened volatility saw the trading volume jump to 30,66,195 shares. Company has a market cap of $13,064 M.
In a different news, on Jun 2, 2016, David J Aldrich (Executive Chairman) sold 15,000 shares at $66.79 per share price. According to the SEC, on May 18, 2016, Peter L Gammel (Chief Technology Officer) sold 22,015 shares at $63.85 per share price. On Apr 15, 2016, Liam Griffin (President) sold 2,500 shares at $75.28 per share price, according to the Form-4 filing with the securities and exchange commission.
Skyworks Solutions Inc. is engaged in the production of analog semiconductors. The Company supports automotive broadband wireless infrastructure energy management Global Positioning System (GPS) industrial medical military wireless networking smartphone and tablet applications. The Company’s portfolio includes amplifiers attenuators circulators demodulators detectors diodes directional couplers front-end modules hybrids infrastructure radio frequency (RF) subsystems isolators lighting and display solutions mixers modulators optocouplers optoisolators phase shifters phase locked loops (PLLs) synthesizers voltage controlled oscillator power dividers (VCOs) power dividers/combiners power management devices receivers switches and technical ceramics. The Company’s products include Front-end Modules and Amplifiers Wireless Infrastructure Power Management Precision Analog Components WiFi Connectivity and Smart Energy.