Gotham Asset Management LLC boosted its position in Skyworks Solutions Inc (NASDAQ:SWKS) by 38.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 395,211 shares of the semiconductor manufacturer’s stock after buying an additional 109,284 shares during the period. Gotham Asset Management LLC’s holdings in Skyworks Solutions were worth $37,525,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan boosted its position in Skyworks Solutions by 88.6% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 8,960 shares of the semiconductor manufacturer’s stock valued at $851,000 after buying an additional 4,210 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Skyworks Solutions by 4.7% in the fourth quarter. Macquarie Group Ltd. now owns 25,220 shares of the semiconductor manufacturer’s stock valued at $3,500,000 after acquiring an additional 1,140 shares during the period. Vident Investment Advisory LLC lifted its holdings in Skyworks Solutions by 8.2% in the fourth quarter. Vident Investment Advisory LLC now owns 27,584 shares of the semiconductor manufacturer’s stock valued at $2,619,000 after acquiring an additional 2,087 shares during the period. Platinum Investment Management Ltd. lifted its holdings in Skyworks Solutions by 0.4% in the fourth quarter. Platinum Investment Management Ltd. now owns 1,113,760 shares of the semiconductor manufacturer’s stock valued at $105,751,000 after acquiring an additional 4,900 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in Skyworks Solutions by 34.9% in the fourth quarter. Verition Fund Management LLC now owns 18,802 shares of the semiconductor manufacturer’s stock valued at $1,785,000 after acquiring an additional 4,868 shares during the period. Hedge funds and other institutional investors own 83.17% of the company’s stock.
In related news, insider Peter L. Gammel sold 10,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $111.21, for a total transaction of $1,195,507.50. Following the transaction, the insider now owns 18,670 shares in the company, valued at approximately $2,076,290.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David J. Aldrich sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $113.03, for a total value of $3,956,050.00. Following the transaction, the insider now owns 177,252 shares in the company, valued at approximately $20,034,793.56. The disclosure for this sale can be found here. Insiders have sold a total of 99,133 shares of company stock worth $10,717,872 in the last 90 days. 0.49% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on SWKS shares. BMO Capital Markets raised Skyworks Solutions from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 6th. They noted that the move was a valuation call. Morgan Stanley upped their target price on Skyworks Solutions from $86.00 to $88.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 13th. BidaskClub downgraded Skyworks Solutions from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Piper Jaffray Companies restated a “buy” rating and issued a $115.00 target price on shares of Skyworks Solutions in a report on Wednesday, December 27th. Finally, Vetr cut Skyworks Solutions from a “buy” rating to a “hold” rating and set a $105.96 target price for the company. in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Skyworks Solutions currently has a consensus rating of “Buy” and a consensus price target of $117.09.
Shares of Skyworks Solutions stock opened at $109.12 on Monday. Skyworks Solutions Inc has a 12-month low of $93.05 and a 12-month high of $117.65. The firm has a market capitalization of $20,188.07, a PE ratio of 25.09, a PEG ratio of 1.10 and a beta of 0.55.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Monday, February 5th. The semiconductor manufacturer reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.09. Skyworks Solutions had a return on equity of 30.21% and a net margin of 21.72%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned $1.61 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. research analysts anticipate that Skyworks Solutions Inc will post 6.67 earnings per share for the current year.
Skyworks Solutions declared that its Board of Directors has authorized a stock repurchase plan on Monday, February 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, February 22nd were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.17%. Skyworks Solutions’s dividend payout ratio is presently 29.03%.
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Skyworks Solutions Company Profile
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
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