Skyworks Solutions (NASDAQ:SWKS) CFO Donald Palette sold 37,528 shares of the stock on the open market in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $25.50, for a total value of $956,964.00. Following the completion of the sale, the chief financial officer now directly owns 84,485 shares in the company. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
SWKS has been the subject of a number of recent research reports. Analysts at Raymond James downgraded shares of Skyworks Solutions from a “strong-buy” rating to an “outperform” rating in a research note to investors on Thursday, August 22nd. Separately, analysts at Canaccord Genuity raised their price target on shares of Skyworks Solutions to $30.00 in a research note to investors on Friday, August 9th. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Skyworks Solutions in a research note to investors on Wednesday, July 24th. They now have a $25.00 price target on the stock.
Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Skyworks Solutions currently has a consensus rating of “Buy” and an average price target of $29.85.
Skyworks Solutions (NASDAQ:SWKS) traded down 2.16% during mid-day trading on Friday, hitting $25.36. 3,239,674 shares of the company’s stock traded hands. Skyworks Solutions has a 52-week low of $19.21 and a 52-week high of $26.10. The stock has a 50-day moving average of $24.13 and a 200-day moving average of $22.69. The company has a market cap of $4.761 billion and a P/E ratio of 19.65. Skyworks Solutions also was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 3,235 put options on the stock. This represents an increase of approximately 196% compared to the average volume of 1,093 put options.
Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, July 18th. The company reported $0.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.53 by $0.01. The company had revenue of $436.10 million for the quarter, compared to the consensus estimate of $435.40 million. During the same quarter last year, the company posted $0.45 earnings per share. Skyworks Solutions’s revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that Skyworks Solutions will post $2.19 earnings per share for the current fiscal year.
Skyworks Solutions, Inc (NASDAQ:SWKS) offers analog and mixed signal semiconductors.
This article (Insider Selling: Donald Palette Unloads 37,528 Shares of Skyworks Solutions Stock (SWKS)) was originally developed by and is property of American Banking News.
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