Quadrant Capital Group LLC grew its stake in Skyworks Solutions Inc (NASDAQ:SWKS) by 334.2% during the first quarter, HoldingsChannel.com reports. The fund owned 825 shares of the semiconductor manufacturer’s stock after acquiring an additional 635 shares during the period. Quadrant Capital Group LLC’s holdings in Skyworks Solutions were worth $63,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Skyworks Solutions by 3.0% in the 4th quarter. BlackRock Inc. now owns 13,271,115 shares of the semiconductor manufacturer’s stock valued at $889,431,000 after acquiring an additional 385,052 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of 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 valued at $41,000 after acquiring an additional 2,689,698 shares during the period. Geode Capital Management LLC raised its stake in shares of Skyworks Solutions by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 2,693,315 shares of the semiconductor manufacturer’s stock valued at $180,234,000 after acquiring an additional 242,983 shares during the period. Northern Trust Corp raised its stake in shares of Skyworks Solutions by 6.1% in the 4th quarter. Northern Trust Corp now owns 2,441,004 shares of the semiconductor manufacturer’s stock valued at $163,596,000 after acquiring an additional 139,555 shares during the period. Finally, LSV Asset Management raised its stake in shares of Skyworks Solutions by 30.1% in the 4th quarter. LSV Asset Management now owns 2,410,600 shares of the semiconductor manufacturer’s stock valued at $161,558,000 after acquiring an additional 558,200 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on SWKS. Zacks Investment Research raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Thursday. Citigroup boosted their price target on shares of Skyworks Solutions from $81.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday. Canaccord Genuity boosted their price target on shares of Skyworks Solutions from $84.00 to $99.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Bank of America reissued an “underperform” rating and issued a $80.00 price target (up from $70.00) on shares of Skyworks Solutions in a research note on Friday, May 3rd. Finally, BMO Capital Markets upped their target price on shares of Skyworks Solutions to $105.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $91.55.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly 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. Skyworks Solutions had a net margin of 29.06% and a return on equity of 28.25%. The company had revenue of $810.40 million during the quarter, compared to analysts’ expectations of $809.52 million. During the same quarter in the previous year, the business posted $1.64 EPS. The firm’s revenue was down 11.3% on a year-over-year basis. Equities analysts forecast that Skyworks Solutions Inc will post 6.01 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, May 20th. Skyworks Solutions’s payout ratio is 22.93%.
Skyworks Solutions announced that its Board of Directors has authorized a share buyback program on Tuesday, February 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 15.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director David J. Aldrich sold 10,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $85.74, for a total transaction of $857,400.00. Following the completion of the sale, the director now owns 210,922 shares in the company, valued at approximately $18,084,452.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David J. Aldrich sold 5,000 shares of the stock in a transaction on Friday, March 29th. The stock was sold at an average price of $81.43, for a total transaction of $407,150.00. Following the sale, the director now owns 205,922 shares of the company’s stock, valued at approximately $16,768,228.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,980 shares of company stock valued at $9,552,511. Company insiders own 0.64% of the company’s stock.
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Skyworks Solutions 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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