The Vanguard Group, Inc. has recently announced that it has increased stake in Skyworks Solutions Inc. (NASDAQ:SWKS) by 0.84%. After grabbing 17.38 million shares, the institutional investor is now in possession of 0.14 million shares of the Technology Company. The new investment brought the stake of investor firm to 10.83% having worth around $1.49 billion. Moreover, SSgA Funds Management, Inc. increased its share by 0.11 million to have a control over 7.4 million shares. And Vulcan Value Partners LLC raised its holdings to 12435.0 shares by acquiring 4.65 million shares or 2.90% of the stake.
Skyworks Solutions Inc. (SWKS) concluded trading on 12/08/22 at a closing price of $95.17, with 1.84 million shares of worth about $175.37 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -8.02% during that period and on Thursday the price saw a gain of about 3.49%. Currently the company’s common shares owned by public are about 159.70M shares, out of which, 159.58M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 29 analysts are covering the SWKS stock and their offered price forecasts bring an average price target of $109.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $160.00 and could fall to a lowest price of $85.00. The stock’s current price level is 12.03% above of average price target set by the analysts, while a rise to estimated low would result in loss of -11.96% for the stock. However, touching the estimated high of $160.00 would mean a gain of 40.52% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 96 times over the past 12 months. They bought 170,675 shares in 44 of the transactions. In 52 selling transactions, insiders dumped 148,655 shares.
Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Skyworks Solutions Inc. Vanguard Total Stock Market Index is currently holding 4.82 million shares of worth totaling $414.48 million. The company recently came buying 21187.0 shares which brought its stake up to 3.00% of the company’s outstanding shares. Vanguard Mid Cap Index Fund bought 43962.0 shares, after which its hold over company’s outstanding shares expand to 2.34%, leaving 3.75 million shares with the mutual fund that have a worth of about $322.35 million. Vanguard 500 Index Fund, after buying 3.67 million shares, have now control over 2.29% of the stake in the company. It holds 35476.0 shares of worth $315.76 million.
Skyworks Solutions Inc. (NASDAQ: SWKS) started trading at $92.64, above $0.68 from concluding price of the previous day. However, the stock later moved at a day high price of 95.45, or with a gain of 3.49%. Stock saw a price change of 0.21% in past 5 days and over the past one month there was a price change of 7.34%. Year-to-date (YTD), SWKS shares are showing a performance of -38.66% which decreased to -40.55% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $76.16 but also hit the highest price of $164.47 during that period. The average intraday trading volume for Skyworks Solutions Inc. shares is 2.07 million. The stock is currently trading 2.09% above its 20-day simple moving average (SMA20), while that difference is up 7.24% for SMA50 and it goes to -9.51% lower than SMA200.
The Vanguard Group, Inc. acquired 17.38 million shares of Skyworks Solutions Inc. having value of about $1.49 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.14 million shares in the company valued at close to $13778522.26, or have control over 0.84% stake in the company. Skyworks Solutions Inc. (NASDAQ: SWKS) currently have 159.70M outstanding shares and institutions hold larger chunk of about 78.90% of that. Holding of mutual funds in the company is about 36.87% while other institutional holders and individual stake holders have control over 42.17% and 1.11% of the stake respectively.
The stock has a current market capitalization of $15.41B and its 3Y-monthly beta is at 1.21. PE ratio of stock for trailing 12 months is 12.21, while it has posted earnings per share of $7.80 in the same period. Its PEG reads 1.26 and has Quick Ratio of 1.60 while making debt-to-equity ratio of 0.40. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SWKS, volatility over the week remained 2.58% while standing at 3.02% over the month.
Analysts are in expectations that Skyworks Solutions Inc. (SWKS) stock would likely to be making an EPS of $2.9 in the current quarter, while forecast for next quarter EPS is $3.14 and it is $11.42 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.75 which is $2.96 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.62 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -13.00% while it is estimated to increase by 13.29% in next year. EPS is likely to grow at an annualized rate of 9.65% for next 5-years, compared to annual growth of 7.60% made by the stock over the past 5-years.
Analysts at 29 brokerage firms have issued recommendations for the Skyworks Solutions Inc. (SWKS)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 29 Wall Street analysts, 14 recommended a “Buy” rating, while 12 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Credit Suisse on November 16, 2022 offering an Outperform rating for the stock and assigned a target price of $125 to it. On October 11, 2022, Wells Fargo Downgrade their recommendations, while on September 13, 2022, Exane BNP Paribas Initiated their ratings for the stock with a price target of $120. Stock get an Underperform rating from BofA Securities on June 29, 2022.
