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.
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.
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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.
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