Crestline Management LP Takes Position in Skyworks Solutions (SWKS)

Crestline Management LP purchased a new stake in Skyworks Solutions (NASDAQ:SWKS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,452 shares of the semiconductor manufacturer’s stock, valued at approximately $992,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC acquired a new stake in Skyworks Solutions during the third quarter valued at approximately $211,000. Checchi Capital Advisers LLC bought a new position in shares of Skyworks Solutions in the fourth quarter valued at approximately $224,000. Granite Springs Asset Management LLC bought a new position in shares of Skyworks Solutions in the fourth quarter valued at approximately $230,000. Zions Bancorporation raised its stake in shares of Skyworks Solutions by 7,738.7% in the third quarter. Zions Bancorporation now owns 2,430 shares of the semiconductor manufacturer’s stock valued at $247,000 after acquiring an additional 2,399 shares during the last quarter. Finally, Flaharty Asset Management LLC bought a new position in shares of Skyworks Solutions in the fourth quarter valued at approximately $248,000. 83.20% of the stock is currently owned by institutional investors and hedge funds.

How to Become a New Pot Stock Millionaire

Several research analysts have commented on SWKS shares. Standpoint Research raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. ValuEngine upgraded Skyworks Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Vetr cut Skyworks Solutions from a “sell” rating to a “strong sell” rating and set a $91.21 price objective for the company. in a research note on Wednesday, February 7th. BidaskClub raised Skyworks Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, February 13th. Finally, B. Riley cut their price target on Skyworks Solutions from $131.00 to $128.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Skyworks Solutions currently has a consensus rating of “Buy” and a consensus target price of $116.89.

Shares of NASDAQ SWKS traded down $3.24 during trading on Friday, reaching $95.56. The company had a trading volume of 1,765,596 shares, compared to its average volume of 1,844,600. The stock has a market cap of $17,997.94, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 0.98 and a beta of 0.63. Skyworks Solutions has a twelve month low of $93.05 and a twelve month high of $117.65.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Monday, February 5th. The semiconductor manufacturer reported $2.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.09. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. Skyworks Solutions had a return on equity of 30.21% and a net margin of 21.72%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 earnings per share. analysts forecast that Skyworks Solutions will post 6.67 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, February 22nd were paid a $0.32 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.34%. Skyworks Solutions’s payout ratio is currently 21.40%.

Skyworks Solutions announced that its Board of Directors has approved a stock buyback program on Monday, February 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In other Skyworks Solutions news, insider David J. Aldrich sold 35,000 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $113.03, for a total transaction of $3,956,050.00. Following the completion of the sale, the insider now directly owns 177,252 shares in the company, valued at $20,034,793.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter L. Gammel sold 7,800 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $100.60, for a total value of $784,680.00. Following the sale, the insider now owns 12,680 shares of the company’s stock, valued at $1,275,608. The disclosure for this sale can be found here. Insiders sold 96,050 shares of company stock valued at $10,415,738 over the last quarter. Insiders own 0.49% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/04/07/10452-shares-in-skyworks-solutions-inc-swks-acquired-by-crestline-management-lp.html.

About Skyworks Solutions

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

Receive News & Ratings for Skyworks Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skyworks Solutions and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply