Triton Wealth Management PLLC increased its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 17.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,669 shares of the semiconductor manufacturer’s stock after purchasing an additional 396 shares during the quarter. Triton Wealth Management PLLC’s holdings in Skyworks Solutions were worth $401,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of SWKS. Vigilant Capital Management LLC purchased a new stake in shares of Skyworks Solutions during the third quarter worth approximately $102,000. Bowling Portfolio Management LLC raised its stake in shares of Skyworks Solutions by 50.5% during the third quarter. Bowling Portfolio Management LLC now owns 19,773 shares of the semiconductor manufacturer’s stock worth $2,877,000 after purchasing an additional 6,633 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Skyworks Solutions by 25.2% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 373 shares of the semiconductor manufacturer’s stock worth $54,000 after purchasing an additional 75 shares during the last quarter. FormulaFolio Investments LLC purchased a new stake in shares of Skyworks Solutions during the third quarter worth approximately $247,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Skyworks Solutions during the third quarter worth approximately $218,000. Hedge funds and other institutional investors own 76.89% of the company’s stock.
NASDAQ:SWKS traded down $0.23 during mid-day trading on Friday, hitting $153.15. The stock had a trading volume of 1,110,785 shares, compared to its average volume of 2,245,185. Skyworks Solutions, Inc. has a twelve month low of $67.90 and a twelve month high of $158.61. The stock has a market cap of $25.58 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 2.06 and a beta of 1.23. The company’s 50 day simple moving average is $143.05 and its 200 day simple moving average is $126.18.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Thursday, July 23rd. The semiconductor manufacturer reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.13. Skyworks Solutions had a net margin of 24.13% and a return on equity of 20.73%. The business had revenue of $736.80 million during the quarter, compared to the consensus estimate of $690.06 million. During the same period last year, the business posted $1.35 EPS. Equities analysts anticipate that Skyworks Solutions, Inc. will post 4.91 earnings per share for the current year.
Several equities research analysts have recently commented on the company. Cowen upped their price target on Skyworks Solutions from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, October 1st. KeyCorp upped their price objective on Skyworks Solutions from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Barclays upped their price objective on Skyworks Solutions from $100.00 to $130.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Wells Fargo & Company upped their price objective on Skyworks Solutions from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, Craig Hallum upped their price objective on Skyworks Solutions from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Nine analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $140.08.
In other Skyworks Solutions news, Director David J. Aldrich sold 15,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $144.42, for a total transaction of $2,180,742.00. Following the completion of the sale, the director now directly owns 135,226 shares in the company, valued at $19,529,338.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Liam Griffin sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $142.60, for a total transaction of $356,500.00. Following the sale, the chief executive officer now owns 55,566 shares of the company’s stock, valued at $7,923,711.60. The disclosure for this sale can be found here. Insiders sold a total of 54,225 shares of company stock valued at $7,888,152 over the last quarter. 0.40% of the stock is currently owned by company insiders.
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, as well as wireless radio integrated circuits.
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