The Vanguard Group, Inc. recently announced the acquisition of new stake in Skyworks Solutions Inc. (NASDAQ:SWKS). The institutional investor has increased its shareholding in the Technology company by 1.19% to 17.59 million shares with purchase of 0.21 million shares. This fresh investment now brings its stake to 11.06% valued currently at $1.96 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 3382.0 to 7.4 million shares. And Victory Capital Management, Inc. has lifted its position by 74.89% or 1.78 million shares – to 4.16 million shares.
With over 2.05 million Skyworks Solutions Inc. (SWKS) shares trading Tuesday and a closing price of $113.23 on the day, the dollar volume was approximately $232.5 million. The shares have shown a positive half year performance of 9.27% and its price on 03/14/23 gained nearly 1.76%. Currently, there are 159.80M common shares owned by the public and among those 158.33M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 29 analysts who have offered their price forecasts for SWKS have a consensus price objective of $126.96. The analysts have set the share’s price value over the next 12 months at a high of $188.00 and a low of $108.00. The average price target is 9.58% above its recent price level and a downside to the estimated low will see the stock lose -4.84% over that period. But an upside of 39.77% will see the stock hit the forecast high price target while median target price for the stock is $125.00.
Insiders at the company have transacted a total of 87 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 45 of these insider trades were purchases, accounting for 171,122 shares. Insider sales of the common stock occurred on 42 occasions, with total insider shares sold totaling 103,371 shares.
The top 3 mutual fund holders in Skyworks Solutions Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 4.91 million shares of the company’s stock, all valued at over $548.13 million. The company bought an additional 41481.0 shares recently to bring their total holdings to about 3.09% of the shares outstanding. Vanguard Mid Cap Index Fund bought 6020.0 shares to see its total holdings expand to 3.73 million shares valued at over $416.18 million and representing 2.35% of the shares outstanding. Vanguard 500 Index Fund bought 8807.0 shares to bring its total holdings to over 3.72 million shares at a value of $414.77 million. Vanguard 500 Index Fund now owns shares totaling to 2.34% of the shares outstanding.
Shares of Skyworks Solutions Inc. (NASDAQ: SWKS) opened at $113.43, up $2.16 from a prior closing price of $111.27. However, the script later moved the day high at 114.33, up 1.76%. The company’s stock has a 5-day price change of 1.06% and 19.79% over the past three months. SWKS shares are trading 24.25% year to date (YTD), with the 12-month market performance down to -11.22% lower. It has a 12-month low price of $76.16 and touched a high of $141.26 over the same period. SWKS has an average intraday trading volume of 2.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.85%, 4.04%, and 13.54% respectively.
Institutional ownership of Skyworks Solutions Inc. (NASDAQ: SWKS) shares accounts for 78.90% of the company’s 159.80M shares outstanding. Mutual fund holders own 37.20%, while other institutional holders and individual stakeholders account for 42.95% and 1.12% respectively.
It has a market capitalization of $18.34B and a beta (3y monthly) value of 1.28. The stock’s trailing 12-month PE ratio is 15.46, while the earnings-per-share (ttm) stands at $7.33. The company has a PEG of 1.03 and a Quick Ratio of 1.70 with the debt-to-equity ratio at 0.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.12% over the week and 2.50% over the month.
Analysts forecast that Skyworks Solutions Inc. (SWKS) will achieve an EPS of $2.03 for the current quarter, $2.08 for the next quarter and $10.78 for 2024. The lowest estimate earnings-per-share for the quarter is $2.01 while analysts give the company a high EPS estimate of $2.09. Comparatively, EPS for the current quarter was $2.63 a year ago. Earnings per share for the fiscal year are expected to decrease by -13.00%, and 15.23% over the next financial year. EPS should grow at an annualized rate of 15.00% over the next five years, compared to 7.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 29 brokerage firm advisors rate Skyworks Solutions Inc. (SWKS) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 13 of the 29 advise that investors “hold,” and 0 rated it as a “Sell.”
Barclays coverage for the Skyworks Solutions Inc. (SWKS) stock in a research note released on January 23, 2023 offered a Overweight rating with a price target of $125. Wells Fargo on their part issued Equal Weight rating on October 11, 2022.
