Retirement Systems of Alabama boosted its holdings in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 410.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 421,053 shares of the semiconductor manufacturer’s stock after purchasing an additional 338,513 shares during the period. Retirement Systems of Alabama owned about 0.24% of Skyworks Solutions worth $34,728,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. GAM Holding AG bought a new position in shares of Skyworks Solutions in the third quarter valued at approximately $228,000. First Republic Investment Management Inc. increased its holdings in shares of Skyworks Solutions by 82.7% in the third quarter. First Republic Investment Management Inc. now owns 13,923 shares of the semiconductor manufacturer’s stock valued at $1,263,000 after purchasing an additional 6,302 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Skyworks Solutions by 14.7% in the third quarter. LPL Financial LLC now owns 41,212 shares of the semiconductor manufacturer’s stock valued at $3,738,000 after purchasing an additional 5,278 shares in the last quarter. Cypress Capital Group acquired a new stake in shares of Skyworks Solutions in the third quarter valued at approximately $226,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Skyworks Solutions by 2.5% in the third quarter. Mackenzie Financial Corp now owns 119,352 shares of the semiconductor manufacturer’s stock valued at $10,826,000 after purchasing an additional 2,943 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.
A number of brokerages recently weighed in on SWKS. BidaskClub raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Investment Research raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. TheStreet raised shares of Skyworks Solutions from a “c+” rating to a “b-” rating in a report on Wednesday, February 27th. DA Davidson reaffirmed a “positive” rating and set a $95.00 target price on shares of Skyworks Solutions in a report on Thursday, February 7th. Finally, ValuEngine raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. Skyworks Solutions currently has a consensus rating of “Hold” and a consensus price target of $93.00.
In related news, insider Liam Griffin sold 19,083 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $85.12, for a total value of $1,624,344.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Peter L. Gammel sold 2,652 shares of the business’s stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $68.45, for a total transaction of $181,529.40. Following the completion of the sale, the chief technology officer now directly owns 15,123 shares in the company, valued at $1,035,169.35. The disclosure for this sale can be found here. Insiders sold a total of 64,501 shares of company stock worth $5,505,448 over the last ninety days. 0.64% of the stock is currently owned by insiders.
Shares of NASDAQ SWKS traded down $0.95 during midday trading on Monday, reaching $89.73. 45,683 shares of the stock were exchanged, compared to its average volume of 1,577,833. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 13.51, a P/E/G 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 announced its quarterly earnings results on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.12. The company had revenue of $972.00 million for the quarter, compared to analysts’ expectations of $974.70 million. Skyworks Solutions had a net margin of 29.91% and a return on equity of 29.30%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm posted $2.00 earnings per share. As a group, analysts forecast that Skyworks Solutions Inc will post 6.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors 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 yield of 1.69%. Skyworks Solutions’s dividend payout ratio is currently 22.93%.
Skyworks Solutions announced that its board has approved a stock repurchase plan on Tuesday, February 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 15.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management 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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