Westpac Banking Corp increased its position in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 165.3% during the 2nd quarter, Holdings Channel reports. The firm owned 87,154 shares of the semiconductor manufacturer’s stock after purchasing an additional 54,309 shares during the period. Westpac Banking Corp’s holdings in Skyworks Solutions were worth $8,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cim LLC lifted its stake in Skyworks Solutions by 12.1% during the second quarter. Cim LLC now owns 4,710 shares of the semiconductor manufacturer’s stock worth $455,000 after purchasing an additional 507 shares during the last quarter. Mckinley Capital Management LLC Delaware lifted its stake in Skyworks Solutions by 67.2% during the first quarter. Mckinley Capital Management LLC Delaware now owns 1,478 shares of the semiconductor manufacturer’s stock worth $148,000 after purchasing an additional 594 shares during the last quarter. BancorpSouth Bank lifted its stake in Skyworks Solutions by 8.0% during the first quarter. BancorpSouth Bank now owns 8,651 shares of the semiconductor manufacturer’s stock worth $867,000 after purchasing an additional 638 shares during the last quarter. Avestar Capital LLC lifted its stake in Skyworks Solutions by 6.9% during the first quarter. Avestar Capital LLC now owns 11,508 shares of the semiconductor manufacturer’s stock worth $1,152,000 after purchasing an additional 745 shares during the last quarter. Finally, MUFG Securities EMEA plc increased its position in Skyworks Solutions by 24.6% in the first quarter. MUFG Securities EMEA plc now owns 3,802 shares of the semiconductor manufacturer’s stock worth $381,000 after buying an additional 750 shares during the period. Hedge funds and other institutional investors own 80.15% of the company’s stock.
Several equities research analysts have weighed in on the company. B. Riley increased their target price on Skyworks Solutions from $116.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday. Cowen reaffirmed a “hold” rating and issued a $105.00 target price (up from $100.00) on shares of Skyworks Solutions in a research report on Friday. BMO Capital Markets reaffirmed a “buy” rating and issued a $115.00 target price on shares of Skyworks Solutions in a research report on Friday. Canaccord Genuity reaffirmed a “buy” rating and issued a $115.00 target price on shares of Skyworks Solutions in a research report on Friday. Finally, Zacks Investment Research raised Skyworks Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Four analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the stock. Skyworks Solutions presently has an average rating of “Buy” and a consensus price target of $115.85.
Shares of Skyworks Solutions opened at $96.99 on Friday, according to MarketBeat.com. The firm has a market cap of $18.66 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.22 and a beta of 0.63. Skyworks Solutions Inc has a one year low of $86.13 and a one year high of $117.65.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Thursday, July 19th. The semiconductor manufacturer reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $894.30 million for the quarter, compared to analyst estimates of $889.00 million. Skyworks Solutions had a return on equity of 30.44% and a net margin of 23.78%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $1.57 earnings per share. sell-side analysts predict that Skyworks Solutions Inc will post 6.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 28th. Stockholders of record on Tuesday, August 7th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.32. The ex-dividend date is Monday, August 6th. Skyworks Solutions’s dividend payout ratio (DPR) is 21.40%.
In other news, Director Christine King sold 2,401 shares of the firm’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 directly owns 14,928 shares of the company’s stock, valued at $1,458,017.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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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