Metropolitan Life Insurance Co. NY decreased its position in Skyworks Solutions Inc (NASDAQ:SWKS) by 61.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 36,415 shares of the semiconductor manufacturer’s stock after selling 58,662 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Skyworks Solutions were worth $3,458,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Park Avenue Securities LLC purchased a new stake in shares of Skyworks Solutions during the third quarter worth $211,000. Checchi Capital Advisers LLC purchased a new stake in shares of Skyworks Solutions during the fourth quarter worth $224,000. Granite Springs Asset Management LLC purchased a new stake in shares of Skyworks Solutions during the fourth quarter worth $230,000. Zions Bancorporation increased its position in shares of Skyworks Solutions by 7,738.7% during the third quarter. Zions Bancorporation now owns 2,430 shares of the semiconductor manufacturer’s stock worth $247,000 after acquiring an additional 2,399 shares during the period. Finally, Flaharty Asset Management LLC purchased a new stake in shares of Skyworks Solutions during the fourth quarter worth $248,000. 83.17% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on SWKS. Zacks Investment Research lowered Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Needham & Company LLC reaffirmed a “buy” rating on shares of Skyworks Solutions in a research report on Tuesday, February 6th. Drexel Hamilton reaffirmed a “buy” rating and set a $128.00 price objective on shares of Skyworks Solutions in a research report on Monday, February 5th. BidaskClub lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, Standpoint Research raised Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-five have given a buy rating to the stock. Skyworks Solutions presently has a consensus rating of “Buy” and a consensus target price of $117.09.
In related news, insider Peter L. Gammel sold 7,800 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $100.60, for a total transaction of $784,680.00. Following the completion of the transaction, the insider now directly owns 12,680 shares of the company’s stock, valued at $1,275,608. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carlos S. Bori sold 3,083 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $98.00, for a total transaction of $302,134.00. Following the transaction, the senior vice president now directly owns 12,455 shares of the company’s stock, valued at $1,220,590. The disclosure for this sale can be found here. Insiders have sold 99,133 shares of company stock valued at $10,717,872 in the last quarter. Insiders own 0.49% of the company’s stock.
Shares of SWKS stock opened at $109.07 on Wednesday. Skyworks Solutions Inc has a 12 month low of $93.05 and a 12 month high of $117.65. The firm has a market cap of $19,950.85, a PE ratio of 17.24, a PEG ratio of 1.08 and a beta of 0.55.
Skyworks Solutions (NASDAQ:SWKS) last announced 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 net margin of 21.72% and a return on equity of 30.21%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. research analysts expect that Skyworks Solutions Inc will post 6.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders 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 annualized dividend and a dividend yield of 1.17%. Skyworks Solutions’s dividend payout ratio (DPR) is 29.03%.
Skyworks Solutions declared that its board has initiated a stock repurchase program on Monday, February 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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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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