Parametric Portfolio Associates LLC increased its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 2.3% during the third quarter, HoldingsChannel.com reports. The firm owned 481,851 shares of the semiconductor manufacturer’s stock after buying an additional 10,921 shares during the period. Parametric Portfolio Associates LLC’s holdings in Skyworks Solutions were worth $38,187,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Mechanics Bank Trust Department purchased a new stake in shares of Skyworks Solutions in the third quarter worth about $25,000. Squar Milner Financial Services LLC lifted its stake in Skyworks Solutions by 492.6% in the 3rd quarter. Squar Milner Financial Services LLC now owns 320 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 266 shares in the last quarter. Next Capital Management LLC boosted its holdings in Skyworks Solutions by 118.7% in the 2nd quarter. Next Capital Management LLC now owns 339 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 184 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Skyworks Solutions in the 3rd quarter valued at $32,000. Finally, Stonebridge Capital Advisors LLC bought a new position in Skyworks Solutions in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 82.99% of the company’s stock.
Shares of NASDAQ SWKS opened at $98.36 on Tuesday. The stock’s 50-day moving average is $94.96 and its 200 day moving average is $81.63. The stock has a market cap of $16.76 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 1.43 and a beta of 1.05. Skyworks Solutions Inc has a 1-year low of $60.12 and a 1-year high of $102.87.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Skyworks Solutions had a return on equity of 24.41% and a net margin of 25.28%. The business had revenue of $827.00 million during the quarter, compared to analyst estimates of $824.01 million. During the same quarter in the prior year, the firm earned $1.94 earnings per share. Skyworks Solutions’s revenue for the quarter was down 18.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Skyworks Solutions Inc will post 5.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a $0.44 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.79%. Skyworks Solutions’s payout ratio is 30.82%.
In related news, Director David J. Aldrich sold 40,000 shares of Skyworks Solutions stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $97.47, for a total value of $3,898,800.00. Following the transaction, the director now owns 213,032 shares in the company, valued at approximately $20,764,229.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Robert John Terry sold 1,483 shares of Skyworks Solutions stock in a transaction on Friday, November 8th. The stock was sold at an average price of $100.00, for a total transaction of $148,300.00. Following the completion of the transaction, the senior vice president now owns 15,132 shares in the company, valued at approximately $1,513,200. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,884 shares of company stock valued at $12,804,697. Company insiders own 0.64% of the company’s stock.
SWKS has been the topic of a number of recent analyst reports. Cascend Securities increased their price objective on Skyworks Solutions from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Needham & Company LLC lifted their price objective on Skyworks Solutions from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. ValuEngine upgraded Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Craig Hallum upped their target price on Skyworks Solutions from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Canaccord Genuity cut Skyworks Solutions from a “buy” rating to a “hold” rating and raised their price target for the company from $82.00 to $102.00 in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. Skyworks Solutions has an average rating of “Hold” and a consensus price target of $95.36.
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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