Pacer Advisors Inc. lifted its position in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 155.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 42,898 shares of the semiconductor manufacturer’s stock after purchasing an additional 26,120 shares during the quarter. Pacer Advisors Inc.’s holdings in Skyworks Solutions were worth $3,538,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. JOYN Advisors Inc. grew its position in shares of 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 in the last quarter. Lindbrook Capital LLC bought a new stake in Skyworks Solutions during the fourth quarter valued at $25,000. Manchester Capital Management LLC bought a new stake in Skyworks Solutions during the fourth quarter valued at $39,000. AdvisorNet Financial Inc increased 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 valued at $27,000 after purchasing an additional 201 shares during the last quarter. Finally, Doyle Wealth Management bought a new stake in Skyworks Solutions during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 82.83% of the company’s stock.
Several analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Skyworks Solutions to $94.00 and gave the company a “positive” rating in a research note on Wednesday, February 6th. BidaskClub upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Craig Hallum restated a “buy” rating and set a $105.00 price target (up previously from $90.00) on shares of Skyworks Solutions in a research report on Friday. ValuEngine upgraded shares of Skyworks Solutions from a “strong sell” rating to a “sell” rating in a research report on Friday, January 11th. Finally, DA Davidson reissued a “positive” rating and set a $95.00 target price on shares of Skyworks Solutions in a research note on Thursday, February 7th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $93.31.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.04. The business had revenue of $810.40 million for the quarter, compared to analyst estimates of $809.52 million. Skyworks Solutions had a net margin of 29.91% and a return on equity of 29.30%. The firm’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.64 earnings per share. Equities research analysts predict that Skyworks Solutions Inc will post 6.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be paid a $0.38 dividend. The ex-dividend date is Monday, May 20th. This represents a $1.52 annualized dividend and a yield of 1.74%. Skyworks Solutions’s dividend payout ratio is presently 22.93%.
Skyworks Solutions declared that its board has authorized 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
In other news, CTO Peter L. Gammel sold 1,881 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $93.53, for a total transaction of $175,929.93. Following the transaction, the chief technology officer now owns 9,240 shares in the company, valued at approximately $864,217.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter L. Gammel sold 1,915 shares of the firm’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $83.91, for a total transaction of $160,687.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,980 shares of company stock worth $9,795,661. Company insiders own 0.64% of the company’s stock.
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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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