Skyworks Solutions (SWKS) has been witnessing volatility in the market for varied reasons. Shares of the company traded down with investor returns trending downwards for the last three years, which drove some short-sellers to consider it a risky 5G stock. Skandinaviska Enskilda Banken AB and Independent Non-Employee Director have sold a significant amount of their shares. However, on the brighter side, the company demonstrated improved relative price strength. Moreover,
Q3 and Q2 2024 Earnings fell in line with estimates, although revenues were down year-over-year. The company also faced a decline in its quarterly revenue due to slowing auto chip demand. Meanwhile,
Goldman Sachs believes SWKS reflects a good hardware stock to buy. Interestingly, the purchase of 20,496 SWKS shares by Coldstream Capital Management and the acquisition of 661,144 shares by Pzena Investment Management indicates positive investor sentiment. Jim Cramer, CNBC's Mad Money host, expressed his admiration for SWKS due to the Apple factor, and Barclays has raised its price target on the company.
Acquisitions are also forecasted as key for the company's long-term growth.
Skyworks Solutions SWKS News Analytics from Fri, 03 Nov 2023 07:00:00 GMT to Fri, 20 Sep 2024 11:33:27 GMT -
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