PMC shareholders will get $10.50 a share, a 37 percent premium to Mondays close of $7.69 on the Nasdaq. They set a “neutral” rating and a $7.00 price objective on the stock.
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Skyworks Solutions (NASDAQ:SWKS) shares saw an uptick in trading volume on Tuesday, AnalystRatings.NET reports. Bank of America lifted their price objective on shares of Skyworks Solutions from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, June 19th.
Skyworks Solutions (NASDAQ:SWKS) had its target price dropped by Topeka Capital Markets from $120.00 to $100.00 in a report issued on Tuesday, Market Beat.com reports. The company has a market cap of $15,616 million and there are 190,738,000 shares in outstanding. The stock was sold at an average price of $82.67, for a total value of $413,350.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. PMC-Sierra has a 1-year low of $5.65 and a 1-year high of $10.28.
Skyworks also announced that it expects to report sales of $880 million and pro forma net income of $1.52 per share for the fourth quarter of fiscal 2015. The firm had revenue of $810 million for the quarter, compared to analysts’ expectations of $801.21 million. The firm is keeping its $35 price target. The shares have received a hold rating based on the suggestion from 3 analysts in latest recommendations. The business’s quarterly revenue was up 38.0% on a year-over-year basis.
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Excluding any non-recurring acquisition-related charges and amortization of acquired intangibles, Skyworks expects the acquisition to be immediately accretive to non-GAAP earnings post-closing and will finalize estimates of the transaction’s financial impact as well as the accounting for the transaction upon deal close. To put that boost into perspective, Skyworks can look back at trailing earnings of $3.83 per diluted share these days. PMC’s portfolio of semiconductor devices can be used in a variety of uses of storage and communications network infrastructure gear and enable the transporting and storing of digital data in a secure manner. The Company offers custom linear products automotive, broadband, cellular infrastructure, energy management, global positioning system (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications.
