Comerica Bank cut its position in shares of Skyworks Solutions (NASDAQ:SWKS) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,582 shares of the semiconductor manufacturer’s stock after selling 1,615 shares during the period. Comerica Bank’s holdings in Skyworks Solutions were worth $5,124,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its stake in shares of Skyworks Solutions by 9.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 148,581 shares of the semiconductor manufacturer’s stock worth $14,108,000 after purchasing an additional 12,828 shares during the period. Gateway Investment Advisers LLC lifted its holdings in Skyworks Solutions by 18.2% during the 4th quarter. Gateway Investment Advisers LLC now owns 170,791 shares of the semiconductor manufacturer’s stock valued at $16,217,000 after buying an additional 26,237 shares in the last quarter. Liberty Capital Management Inc. lifted its holdings in Skyworks Solutions by 8.4% during the 4th quarter. Liberty Capital Management Inc. now owns 17,782 shares of the semiconductor manufacturer’s stock valued at $1,800,000 after buying an additional 1,383 shares in the last quarter. Oakworth Capital Inc. lifted its holdings in Skyworks Solutions by 7.7% during the 4th quarter. Oakworth Capital Inc. now owns 87,006 shares of the semiconductor manufacturer’s stock valued at $9,113,000 after buying an additional 6,233 shares in the last quarter. Finally, Harvey Capital Management Inc. bought a new stake in Skyworks Solutions during the 4th quarter valued at about $3,376,000. 82.09% of the stock is owned by hedge funds and other institutional investors.
NASDAQ SWKS opened at $99.02 on Tuesday. The company has a market cap of $17.66 billion, a P/E ratio of 16.56, a PEG ratio of 1.20 and a beta of 0.66. Skyworks Solutions has a 52 week low of $97.93 and a 52 week high of $100.15.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, May 3rd. The semiconductor manufacturer reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $913.40 million during the quarter, compared to analyst estimates of $911.02 million. Skyworks Solutions had a net margin of 22.69% and a return on equity of 30.35%. Skyworks Solutions’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.45 EPS. analysts forecast that Skyworks Solutions will post 6.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Tuesday, May 22nd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, May 21st. This represents a $1.28 annualized dividend and a dividend yield of 1.29%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 21.40%.
Skyworks Solutions declared that its board has approved 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 reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of brokerages recently weighed in on SWKS. Needham & Company LLC reiterated a “buy” rating on shares of Skyworks Solutions in a report on Tuesday, February 6th. Zacks Investment Research lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. Robert W. Baird began coverage on shares of Skyworks Solutions in a report on Wednesday, May 2nd. They set an “outperform” rating and a $125.00 price objective for the company. Drexel Hamilton reiterated a “buy” rating and set a $128.00 price objective on shares of Skyworks Solutions in a report on Monday, February 5th. Finally, Standpoint Research upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. Skyworks Solutions currently has a consensus rating of “Buy” and a consensus price target of $114.97.
In related news, Chairman David J. Aldrich sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $106.00, for a total transaction of $3,180,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter L. Gammel sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $103.96, for a total transaction of $1,299,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,651 shares of company stock valued at $10,758,273. 0.47% of the stock is currently owned by company insiders.
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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