Raymond James Financial Services Advisors Inc. Takes $8.15 Million Position in Skyworks Solutions Inc (NASDAQ:SWKS)

Raymond James Financial Services Advisors Inc. acquired a new position in Skyworks Solutions Inc (NASDAQ:SWKS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 84,308 shares of the semiconductor manufacturer’s stock, valued at approximately $8,149,000.

Several other institutional investors also recently bought and sold shares of SWKS. Cim LLC increased its holdings in shares of Skyworks Solutions by 12.1% during the second quarter. Cim LLC now owns 4,710 shares of the semiconductor manufacturer’s stock valued at $455,000 after acquiring an additional 507 shares in the last quarter. Mckinley Capital Management LLC Delaware increased its holdings in shares of 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 valued at $148,000 after acquiring an additional 594 shares in the last quarter. Wetherby Asset Management Inc. increased its holdings in shares of Skyworks Solutions by 17.8% during the second quarter. Wetherby Asset Management Inc. now owns 4,163 shares of the semiconductor manufacturer’s stock valued at $402,000 after acquiring an additional 630 shares in the last quarter. BancorpSouth Bank increased its holdings in shares of Skyworks Solutions by 8.0% during the first quarter. BancorpSouth Bank now owns 8,651 shares of the semiconductor manufacturer’s stock valued at $867,000 after acquiring an additional 638 shares in the last quarter. Finally, Avestar Capital LLC increased its holdings in shares of Skyworks Solutions by 6.9% during the first quarter. Avestar Capital LLC now owns 11,508 shares of the semiconductor manufacturer’s stock valued at $1,152,000 after acquiring an additional 745 shares in the last quarter. 80.80% of the stock is currently owned by institutional investors.

In other Skyworks Solutions news, Director David J. Aldrich sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $92.89, for a total transaction of $928,900.00. Following the sale, the director now directly owns 152,252 shares of the company’s stock, valued at $14,142,688.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 30,000 shares of company stock worth $2,818,400 over the last quarter. 0.47% of the stock is owned by company insiders.

Several equities research analysts recently issued reports on the company. ValuEngine downgraded Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Craig Hallum reiterated a “buy” rating and set a $115.00 price target (down previously from $125.00) on shares of Skyworks Solutions in a report on Friday, May 4th. Raymond James downgraded Skyworks Solutions from an “outperform” rating to a “market perform” rating in a report on Friday, May 18th. BMO Capital Markets reissued a “buy” rating and issued a $115.00 price objective on shares of Skyworks Solutions in a research report on Friday, July 20th. Finally, KeyCorp cut their price objective on Skyworks Solutions from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, May 4th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $115.26.

SWKS traded down $0.19 on Friday, hitting $91.30. 1,597,800 shares of the company were exchanged, compared to its average volume of 2,113,877. The firm has a market cap of $16.75 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.03 and a beta of 0.56. Skyworks Solutions Inc has a 12 month low of $86.13 and a 12 month high of $117.65.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, July 19th. The semiconductor manufacturer reported $1.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.04. The business had revenue of $894.30 million during the quarter, compared to analysts’ expectations of $889.00 million. Skyworks Solutions had a return on equity of 30.31% and a net margin of 23.78%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.57 earnings per share. equities research analysts anticipate that Skyworks Solutions Inc will post 6.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 28th. Investors of record on Tuesday, August 7th were given a $0.38 dividend. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Monday, August 6th. Skyworks Solutions’s payout ratio is currently 25.42%.

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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Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

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