Chardan Capital Markets Initiates Coverage on Skyworks (NASDAQ:SWKS). What May be Next?


Why Has Chardan Capital Markets Given Skyworks (NASDAQ:SWKS) a $100 Price Target

Chardan Capital Markets began its coverage for Skyworks (NASDAQ:SWKS), this morning 17 December. The firm found the stock of SWKS quite attractive and now has a target price of $100 with a key Buy rating.

From a total of 21 analysts covering Skyworks Solutions Inc. (NASDAQ:SWKS) stock, 22 rate it a ”Buy”, 1 a “Sell”, and 2 a ”Hold”. This means that 88% of the ratings are positive. The highest target price is $130 while the lowest target price is $74. The mean of all analyst targets is $110.57 with a 48.27% above today’s ($78.97) stock price. Skyworks Solutions Inc. was the topic of 17 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Drexel Hamilton initiated shares on October 20 with “Buy” rating. Pacific Crest maintained shares with “Overweight” rating and $110 target share price in a report from a September 7. Citigroup initiated SWKS stock in a recent report from October 1 with “Buy” rating. Brean Capital maintained the rating on July 24. Brean Capital has a “Buy” rating and a $120 price target on shares. Finally, Zacks downgraded the stock to “Hold” rating in a report issued on a September 17.

The stock increased 1.53% or $1.19 during the last trading session, striking $78.97. Approximately shares of stock traded hands. Skyworks Solutions Inc (NASDAQ:SWKS) has declined 19.81% since May 14, 2015 and is downtrending. It has underperformed by 17.55% the S&P500.

The overall sentiment of institutions has increased to 0.97 in Q2 2015. Its up 0.03, from 0.94 in 2015Q2. The ratio is positive, as 90 institutions have sold all the shares of Skyworks Solutions Inc that they owned while 252 funds have taken shares off the table. 94 funds have purchased shares for the first time while 237 added to their positions. These institutions now hold 126.60 million shares or 6.17% less than the 134.92 million shares they owned in 2015Q2.

The Fund Mitchell Capital Management Co currently is holding shares equating to 5.08% of its total portfolio in Skyworks Solutions Inc representing a total of 172,768 shares. Another fund,Oakworth Capital Inc., is holding a total of 100,706 shares equating to 4.46% of their holdings. Additionally, Ncm Capital Advisers Inc. has a 15,663 share stake in Skyworks Solutions Inc which represents 3.9% of their total portfolio. The Fund, North Point Portfolio Managers Corp Oh, based out of Ohio, has also built up a stake in the stock, which represents a total of 3.7% of their total portfolio. Finally New Century Investment Management Inc, a fund which is based in the state of Michigan reported a total holdings of 84,859 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 4, 2015, shareholders of Skyworks Solutions Inc have witnessed 0 buys, and a total of 27 selling transactions equating to a net activity of approximately $23.88 million . Aldrich David J sold 5,000 shares worth approximately $401,448. Gammel Peter L sold 2,500 shares worth approximately $209,950. Palette Donald W sold 11,000 shares worth approximately $958,763. Freyman Bruce J sold 816 shares worth approximately $73,440. The company insider Griffin Liam sold 16,250 shares worth $1.50M.

Skyworks Solutions Inc. is engaged in the production of analog semiconductors. The company has a market cap of $14.87 billion. The Firm supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System , industrial, medical, military, wireless networking, smartphone and tablet applications. It has 19.28 P/E ratio. 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.

According to Zacks Investment Research, “Skyworks Solutions, Inc. is the industry’s leading wireless semiconductor company focused on radio frequency (RF) and complete semiconductor system solutions for mobile communications applications.”