Farmers & Merchants Trust Co of Chambersburg PA lessened its position in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 67.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,060 shares of the semiconductor manufacturer’s stock after selling 8,350 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Skyworks Solutions were worth $335,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Financial Services Inc increased its stake in Skyworks Solutions by 1.5% in the 4th quarter. Strategic Financial Services Inc now owns 55,024 shares of the semiconductor manufacturer’s stock worth $3,688,000 after acquiring an additional 791 shares during the last quarter. Montrusco Bolton Investments Inc. increased its stake in Skyworks Solutions by 1.7% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 135,861 shares of the semiconductor manufacturer’s stock worth $8,997,000 after acquiring an additional 2,252 shares during the last quarter. Nordea Investment Management AB increased its stake in Skyworks Solutions by 13.7% in the 3rd quarter. Nordea Investment Management AB now owns 153,613 shares of the semiconductor manufacturer’s stock worth $13,935,000 after acquiring an additional 18,513 shares during the last quarter. Norinchukin Bank The increased its stake in Skyworks Solutions by 43.5% in the 4th quarter. Norinchukin Bank The now owns 33,026 shares of the semiconductor manufacturer’s stock worth $2,213,000 after acquiring an additional 10,006 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its position in shares of Skyworks Solutions by 6.5% during the 1st quarter. Gateway Investment Advisers LLC now owns 178,524 shares of the semiconductor manufacturer’s stock valued at $14,725,000 after purchasing an additional 10,854 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on SWKS shares. TheStreet upgraded Skyworks Solutions from a “c+” rating to a “b-” rating in a research report on Wednesday, February 27th. MKM Partners dropped their target price on Skyworks Solutions to $85.00 and set a “buy” rating for the company in a report on Wednesday, January 9th. Craig Hallum restated a “buy” rating and set a $90.00 target price (down from $105.00) on shares of Skyworks Solutions in a report on Wednesday, January 9th. Canaccord Genuity restated a “buy” rating and set a $84.00 target price (down from $96.00) on shares of Skyworks Solutions in a report on Wednesday, January 9th. Finally, Loop Capital dropped their target price on Skyworks Solutions to $92.00 and set a “buy” rating for the company in a report on Thursday, January 10th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $93.00.
In other news, CTO Peter L. Gammel sold 2,652 shares of the company’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $68.45, for a total transaction of $181,529.40. Following the transaction, the chief technology officer now owns 15,123 shares of the company’s stock, valued at $1,035,169.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David J. Aldrich sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $81.05, for a total value of $243,150.00. Following the transaction, the director now directly 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 64,501 shares of company stock worth $5,505,448 over the last 90 days. Company insiders own 0.64% of the company’s stock.
Shares of SWKS traded down $1.09 during trading hours on Monday, hitting $89.59. The stock had a trading volume of 16,625 shares, compared to its average volume of 1,577,833. The firm has a market capitalization of $15.62 billion, a P/E ratio of 13.56, a PEG ratio of 1.34 and a beta of 0.68. Skyworks Solutions Inc has a 12 month low of $60.12 and a 12 month high of $104.20.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.12. The company had revenue of $972.00 million for the quarter, compared to the consensus estimate of $974.70 million. Skyworks Solutions had a return on equity of 29.30% and a net margin of 29.91%. Skyworks Solutions’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 earnings per share. On average, research analysts anticipate that Skyworks Solutions Inc will post 6.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, February 26th were given a $0.38 dividend. The ex-dividend date was Monday, February 25th. This represents a $1.52 annualized dividend and a dividend yield of 1.70%. Skyworks Solutions’s payout ratio is 22.93%.
Skyworks Solutions declared that its board has approved a share repurchase plan on Tuesday, February 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 15.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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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, 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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