Cerity Partners LLC trimmed its stake in Skyworks Solutions Inc (NASDAQ:SWKS) by 23.3% during the 4th quarter, Holdings Channel reports. The firm owned 10,786 shares of the semiconductor manufacturer’s stock after selling 3,280 shares during the quarter. Cerity Partners LLC’s holdings in Skyworks Solutions were worth $723,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Keybank National Association OH increased its position in shares of Skyworks Solutions by 3.8% in the fourth quarter. Keybank National Association OH now owns 4,992 shares of the semiconductor manufacturer’s stock worth $335,000 after purchasing an additional 182 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Skyworks Solutions by 5.1% in the fourth quarter. Alps Advisors Inc. now owns 6,242 shares of the semiconductor manufacturer’s stock worth $418,000 after purchasing an additional 301 shares during the last quarter. First Hawaiian Bank increased its position in shares of Skyworks Solutions by 251.9% in the fourth quarter. First Hawaiian Bank now owns 475 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 340 shares during the last quarter. Greylin Investment Mangement Inc. increased its position in shares of Skyworks Solutions by 3.3% in the fourth quarter. Greylin Investment Mangement Inc. now owns 11,892 shares of the semiconductor manufacturer’s stock worth $797,000 after purchasing an additional 375 shares during the last quarter. Finally, BKD Wealth Advisors LLC increased its position in shares of Skyworks Solutions by 11.1% in the fourth quarter. BKD Wealth Advisors LLC now owns 3,939 shares of the semiconductor manufacturer’s stock worth $264,000 after purchasing an additional 395 shares during the last quarter. Institutional investors own 83.52% of the company’s stock.
In other news, CTO Peter L. Gammel sold 2,652 shares of the firm’s stock in a transaction that occurred on Wednesday, January 16th. The shares were sold at an average price of $68.45, for a total value of $181,529.40. Following the transaction, the chief technology officer now owns 15,123 shares in the company, valued at $1,035,169.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Aldrich sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $81.05, for a total transaction of $243,150.00. Following the completion of the transaction, the director now owns 203,922 shares in the company, valued at approximately $16,527,878.10. The disclosure for this sale can be found here. Insiders sold 7,567 shares of company stock worth $585,367 in the last 90 days. Company insiders own 0.47% of the company’s stock.
SWKS has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Skyworks Solutions from $120.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 23rd. BidaskClub cut shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Bank of America cut shares of Skyworks Solutions from a “buy” rating to a “neutral” rating in a research report on Friday, November 9th. B. Riley cut shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $89.00 in a research report on Friday, November 9th. Finally, Cowen reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Friday, November 9th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $93.00.
Shares of Skyworks Solutions stock opened at $83.38 on Friday. Skyworks Solutions Inc has a 52-week low of $60.12 and a 52-week high of $115.98. The company has a market capitalization of $14.51 billion, a PE ratio of 12.58, a PEG ratio of 1.27 and a beta of 0.73.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.12. Skyworks Solutions had a net margin of 29.91% and a return on equity of 29.30%. The firm had revenue of $972.00 million for the quarter, compared to analysts’ expectations of $974.70 million. During the same quarter last year, the business earned $2.00 earnings per share. The business’s revenue was down 7.6% on a year-over-year basis. On average, research analysts forecast that Skyworks Solutions Inc will post 5.98 EPS for the current fiscal year.
Skyworks Solutions announced that its Board of Directors has approved a share repurchase program on Tuesday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 15.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 19th. Stockholders of record on Tuesday, February 26th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, February 25th. Skyworks Solutions’s dividend payout ratio is 22.93%.
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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, antenna tuners, 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 locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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