Pendal Group Ltd cut its position in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 46.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,351 shares of the semiconductor manufacturer’s stock after selling 84,981 shares during the period. Pendal Group Ltd owned approximately 0.05% of Skyworks Solutions worth $8,831,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Catalyst Capital Advisors LLC purchased a new stake in Skyworks Solutions during the second quarter valued at approximately $101,000. Quad Cities Investment Group LLC purchased a new stake in Skyworks Solutions during the second quarter valued at approximately $102,000. NEXT Financial Group Inc purchased a new stake in Skyworks Solutions during the third quarter valued at approximately $108,000. Polaris Greystone Financial Group LLC raised its position in Skyworks Solutions by 4,813.3% during the third quarter. Polaris Greystone Financial Group LLC now owns 1,474 shares of the semiconductor manufacturer’s stock valued at $134,000 after purchasing an additional 1,444 shares during the period. Finally, Peak Capital Management LLC purchased a new stake in Skyworks Solutions during the second quarter valued at approximately $136,000. 80.71% of the stock is owned by institutional investors.
SWKS has been the topic of a number of recent research reports. Cowen restated a “hold” rating and set a $105.00 price objective (up from $100.00) on shares of Skyworks Solutions in a research report on Friday, July 20th. Morgan Stanley upped their price objective on Skyworks Solutions from $85.00 to $87.00 and gave the company an “underweight” rating in a research report on Friday, July 20th. Needham & Company LLC upped their price objective on Skyworks Solutions from $110.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Craig Hallum reiterated a “buy” rating and issued a $120.00 price target (up from $115.00) on shares of Skyworks Solutions in a report on Friday, July 20th. Finally, B. Riley increased their price objective on Skyworks Solutions from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 20th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $114.10.
In other Skyworks Solutions news, Director David J. Aldrich sold 5,500 shares of Skyworks Solutions stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $90.48, for a total transaction of $497,640.00. Following the completion of the transaction, the director now owns 147,752 shares in the company, valued at approximately $13,368,600.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David J. Aldrich sold 3,000 shares of Skyworks Solutions stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $86.25, for a total value of $258,750.00. Following the transaction, the director now owns 144,251 shares of the company’s stock, valued at approximately $12,441,648.75. The disclosure for this sale can be found here. Insiders sold a total of 44,500 shares of company stock valued at $4,056,350 in the last 90 days. 0.47% of the stock is currently owned by company insiders.
Shares of Skyworks Solutions stock traded down $0.36 during trading on Wednesday, reaching $82.28. The company’s stock had a trading volume of 15,948 shares, compared to its average volume of 1,814,092. The stock has a market capitalization of $15.26 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.85 and a beta of 0.64. Skyworks Solutions Inc has a 1-year low of $79.27 and a 1-year high of $115.98.
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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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