SeaCrest Wealth Management LLC Sells 472 Shares of Skyworks Solutions Inc (NASDAQ:SWKS)

SeaCrest Wealth Management LLC lowered its stake in Skyworks Solutions Inc (NASDAQ:SWKS) by 8.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,131 shares of the semiconductor manufacturer’s stock after selling 472 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Skyworks Solutions were worth $396,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Davy Asset Management Ltd purchased a new position in shares of Skyworks Solutions during the second quarter valued at approximately $252,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Skyworks Solutions by 26.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 157,918 shares of the semiconductor manufacturer’s stock valued at $12,201,000 after buying an additional 32,936 shares during the period. Crossvault Capital Management LLC purchased a new position in shares of Skyworks Solutions during the second quarter valued at approximately $2,629,000. Commonwealth Equity Services LLC increased its stake in shares of Skyworks Solutions by 10.4% during the second quarter. Commonwealth Equity Services LLC now owns 67,489 shares of the semiconductor manufacturer’s stock valued at $5,214,000 after buying an additional 6,341 shares during the period. Finally, Regal Wealth Group Inc. increased its stake in shares of Skyworks Solutions by 4.4% during the second quarter. Regal Wealth Group Inc. now owns 14,578 shares of the semiconductor manufacturer’s stock valued at $1,126,000 after buying an additional 613 shares during the period. Hedge funds and other institutional investors own 81.17% of the company’s stock.

In other news, insider Peter L. Gammel sold 2,250 shares of Skyworks Solutions stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $73.36, for a total value of $165,060.00. Following the transaction, the insider now directly owns 11,490 shares in the company, valued at approximately $842,906.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David J. Aldrich sold 5,000 shares of Skyworks Solutions stock in a transaction on Friday, May 10th. The shares were sold at an average price of $83.13, for a total value of $415,650.00. Following the completion of the transaction, the director now owns 203,032 shares in the company, valued at $16,878,050.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,000 shares of company stock valued at $3,768,153. 0.64% of the stock is currently owned by corporate insiders.

Several research firms have recently issued reports on SWKS. MKM Partners reduced their target price on Skyworks Solutions to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Cascend Securities raised Skyworks Solutions from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Monday, June 10th. Bank of America reaffirmed 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. Citigroup upped their price target on Skyworks Solutions from $81.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $83.00 price target (down from $90.00) on shares of Skyworks Solutions in a research note on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $86.70.

Shares of SWKS stock traded down $3.30 on Friday, reaching $79.47. 99,173 shares of the company’s stock were exchanged, compared to its average volume of 1,409,091. Skyworks Solutions Inc has a 52 week low of $60.12 and a 52 week high of $96.25. The company has a market cap of $14.00 billion, a PE ratio of 11.99, a PEG ratio of 1.63 and a beta of 0.98. The business has a fifty day moving average of $79.71.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.04. The business 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 28.25% and a net margin of 29.06%. Skyworks Solutions’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 EPS. Research analysts expect that Skyworks Solutions Inc will post 5.68 EPS for the current fiscal year.

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

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