Country Club Trust Company n.a. lowered its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 31.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,762 shares of the semiconductor manufacturer’s stock after selling 1,249 shares during the period. Country Club Trust Company n.a.’s holdings in Skyworks Solutions were worth $228,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Capital International Investors acquired a new stake in Skyworks Solutions in the 3rd quarter worth about $326,736,000. Oregon Public Employees Retirement Fund boosted its stake in Skyworks Solutions by 6,143.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,733,478 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 2,689,698 shares during the last quarter. Norges Bank acquired a new stake in Skyworks Solutions in the 4th quarter worth about $121,517,000. Congress Asset Management Co. MA raised its holdings in shares of Skyworks Solutions by 1,249.8% in the 4th quarter. Congress Asset Management Co. MA now owns 978,386 shares of the semiconductor manufacturer’s stock worth $65,571,000 after purchasing an additional 905,902 shares during the period. Finally, DNB Asset Management AS raised its holdings in shares of Skyworks Solutions by 2,998.1% in the 4th quarter. DNB Asset Management AS now owns 781,216 shares of the semiconductor manufacturer’s stock worth $52,357,000 after purchasing an additional 756,000 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the company. Macquarie downgraded Skyworks Solutions from an “outperform” rating to a “neutral” rating and set a $92.80 price objective on the stock. in a report on Wednesday, April 17th. Craig Hallum restated a “buy” rating and issued a $105.00 price objective (up from $90.00) on shares of Skyworks Solutions in a report on Friday. Mizuho restated a “hold” rating and issued a $89.00 price objective on shares of Skyworks Solutions in a report on Friday. Cowen restated a “market perform” rating and issued a $95.00 price objective (up from $80.00) on shares of Skyworks Solutions in a report on Friday. Finally, BMO Capital Markets raised their price objective on Skyworks Solutions to $105.00 and gave the stock an “outperform” rating in a report on Friday. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. Skyworks Solutions has a consensus rating of “Hold” and an average target price of $93.31.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 EPS for the quarter, topping the consensus estimate of $1.43 by $0.04. The company had revenue of $810.40 million during the quarter, compared to analyst estimates of $809.52 million. Skyworks Solutions had a return on equity of 29.30% and a net margin of 29.91%. The business’s revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. As a group, sell-side analysts forecast that Skyworks Solutions Inc will post 6.01 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be given a $0.38 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.52 annualized dividend and a dividend yield of 1.74%. Skyworks Solutions’s payout ratio is 22.93%.
Skyworks Solutions announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 15.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Peter L. Gammel sold 1,915 shares of the business’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $83.91, for a total value of $160,687.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David J. Aldrich sold 3,000 shares of the business’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $81.05, for a total value of $243,150.00. Following the completion of the sale, 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. In the last quarter, insiders sold 111,980 shares of company stock valued at $9,795,661. Insiders own 0.64% of the company’s stock.
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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