Tredje AP fonden raised its stake in Skyworks Solutions (NASDAQ:SWKS) by 50.3% in the first quarter, HoldingsChannel.com reports. The firm owned 18,130 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,070 shares during the period. Tredje AP fonden’s holdings in Skyworks Solutions were worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of SWKS. Signaturefd LLC bought a new stake in Skyworks Solutions in the 1st quarter valued at $100,000. Mckinley Capital Management LLC Delaware boosted its holdings in Skyworks Solutions by 67.2% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 1,478 shares of the semiconductor manufacturer’s stock valued at $148,000 after purchasing an additional 594 shares during the period. Dearborn Partners LLC bought a new stake in Skyworks Solutions in the 1st quarter valued at $208,000. Shufro Rose & Co. LLC bought a new stake in Skyworks Solutions in the 1st quarter valued at $211,000. Finally, Checchi Capital Advisers LLC bought a new stake in Skyworks Solutions in the 4th quarter valued at $224,000. 80.31% of the stock is owned by hedge funds and other institutional investors.
In related news, insider David J. Aldrich sold 35,000 shares of the business’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $113.03, for a total transaction of $3,956,050.00. Following the transaction, the insider now directly owns 177,252 shares in the company, valued at $20,034,793.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Christine King sold 2,401 shares of the business’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $97.67, for a total transaction of $234,505.67. Following the transaction, the director now owns 14,928 shares in the company, valued at $1,458,017.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,151 shares of company stock worth $9,458,773. 0.47% of the stock is owned by corporate insiders.
A number of analysts have weighed in on SWKS shares. BidaskClub downgraded shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, April 3rd. BMO Capital Markets raised shares of 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. Longbow Research started coverage on shares of Skyworks Solutions in a report on Wednesday, May 16th. They issued a “buy” rating and a $120.00 price target for the company. KeyCorp reduced their price target on shares of Skyworks Solutions from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, May 4th. Finally, Mizuho downgraded shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and set a $110.00 price objective for the company. in a report on Tuesday, April 24th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $115.16.
Skyworks Solutions opened at $98.49 on Monday, according to MarketBeat. Skyworks Solutions has a 12-month low of $86.13 and a 12-month high of $117.65. The company has a market capitalization of $17.93 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.22 and a beta of 0.66.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Thursday, May 3rd. The semiconductor manufacturer reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.04. The business had revenue of $913.40 million for the quarter, compared to the consensus estimate of $911.02 million. Skyworks Solutions had a net margin of 22.69% and a return on equity of 30.35%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 earnings per share. sell-side analysts predict that Skyworks Solutions will post 6.41 EPS for the current fiscal year.
Skyworks Solutions declared that its board has approved a stock buyback 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 typically an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Tuesday, May 22nd will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, May 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.30%. Skyworks Solutions’s payout ratio is 21.40%.
Skyworks Solutions Company Profile
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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