David J. Aldrich Sells 5,000 Shares of Skyworks Solutions Inc (SWKS) Stock

Skyworks Solutions Inc (NASDAQ:SWKS) Director David J. Aldrich sold 5,000 shares of the business’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $81.43, for a total transaction of $407,150.00. Following the transaction, the director now owns 205,922 shares in the company, valued at $16,768,228.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

NASDAQ:SWKS traded down $1.18 during mid-day trading on Friday, hitting $90.00. The company’s stock had a trading volume of 1,531,406 shares, compared to its average volume of 1,469,185. Skyworks Solutions Inc has a fifty-two week low of $60.12 and a fifty-two week high of $104.20. The firm has a market capitalization of $15.57 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.37 and a beta of 0.68.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $974.70 million. During the same quarter in the prior year, the business posted $2.00 earnings per share. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. Equities research analysts expect that Skyworks Solutions Inc will post 6.01 earnings per share for the current fiscal year.

Skyworks Solutions announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 15.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

SWKS has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. B. Riley upgraded shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $90.00 in a report on Monday, January 28th. Loop Capital decreased their price objective on shares of Skyworks Solutions to $92.00 and set a “buy” rating for the company in a report on Thursday, January 10th. Canaccord Genuity reiterated a “buy” rating and issued a $84.00 price objective (down from $96.00) on shares of Skyworks Solutions in a report on Wednesday, January 9th. Finally, ValuEngine upgraded shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $92.99.

Institutional investors have recently modified their holdings of the business. JOYN Advisors Inc. grew its stake in Skyworks Solutions by 178.8% during the fourth quarter. JOYN Advisors Inc. now owns 368 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 236 shares during the last quarter. Lindbrook Capital LLC bought a new stake in Skyworks Solutions during the fourth quarter worth about $25,000. Manchester Capital Management LLC bought a new stake in Skyworks Solutions during the fourth quarter worth about $39,000. AdvisorNet Financial Inc grew its stake in Skyworks Solutions by 98.5% during the fourth quarter. AdvisorNet Financial Inc now owns 405 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 201 shares during the last quarter. Finally, Doyle Wealth Management bought a new stake in Skyworks Solutions during the fourth quarter worth about $30,000. 82.55% of the stock is currently owned by hedge funds and other institutional investors.

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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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