First Citizens Bank & Trust Co. cut its stake in Skyworks Solutions Inc. (NASDAQ:SWKS) by 24.0% during the second quarter, Holdings Channel reports. The fund owned 6,468 shares of the semiconductor manufacturer’s stock after selling 2,040 shares during the period. First Citizens Bank & Trust Co.’s holdings in Skyworks Solutions were worth $410,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SWKS. Shell Asset Management Co. increased its position in Skyworks Solutions by 67.5% in the second quarter. Shell Asset Management Co. now owns 22,867 shares of the semiconductor manufacturer’s stock valued at $1,447,000 after buying an additional 9,213 shares during the last quarter. PGGM Investments increased its position in Skyworks Solutions by 116.7% in the second quarter. PGGM Investments now owns 576,392 shares of the semiconductor manufacturer’s stock valued at $36,474,000 after buying an additional 310,401 shares during the last quarter. JPMorgan Chase & Co. increased its position in Skyworks Solutions by 568.4% in the first quarter. JPMorgan Chase & Co. now owns 849,066 shares of the semiconductor manufacturer’s stock valued at $66,142,000 after buying an additional 1,030,325 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in Skyworks Solutions during the first quarter valued at $27,265,000. Finally, HL Financial Services LLC increased its position in Skyworks Solutions by 8.2% in the second quarter. HL Financial Services LLC now owns 46,481 shares of the semiconductor manufacturer’s stock valued at $2,941,000 after buying an additional 3,504 shares during the last quarter. Institutional investors and hedge funds own 76.67% of the company’s stock.
Shares of Skyworks Solutions Inc. (NASDAQ:SWKS) traded down 1.20% during midday trading on Monday, reaching $76.70. The company’s stock had a trading volume of 1,726,865 shares. The stock’s 50-day moving average price is $75.13 and its 200-day moving average price is $69.57. The company has a market cap of $14.38 billion, a P/E ratio of 15.19 and a beta of 1.06. Skyworks Solutions Inc. has a 12-month low of $54.50 and a 12-month high of $88.52.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. The firm had revenue of $751.70 million for the quarter, compared to the consensus estimate of $750.22 million. Skyworks Solutions had a return on equity of 29.31% and a net margin of 29.32%. On average, analysts expect that Skyworks Solutions Inc. will post $5.53 EPS for the current fiscal year.
SWKS has been the subject of several recent analyst reports. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $100.00 price target on shares of Skyworks Solutions in a research note on Friday, September 16th. Brean Capital restated a “buy” rating on shares of Skyworks Solutions in a research note on Wednesday, September 21st. Pacific Crest reiterated an “equal weight” rating on shares of Skyworks Solutions in a research report on Thursday, September 15th. Vetr upgraded Skyworks Solutions from a “sell” rating to a “hold” rating and set a $80.30 target price for the company in a research report on Tuesday, October 11th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $90.00 target price on shares of Skyworks Solutions in a research report on Tuesday, August 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $83.05.
In related news, VP Laura A. Gasparini sold 2,650 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $74.84, for a total value of $198,326.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Bruce J. Freyman sold 36,272 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $80.00, for a total value of $2,901,760.00. Following the completion of the sale, the executive vice president now owns 41,675 shares in the company, valued at approximately $3,334,000. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.
Skyworks Solutions Company Profile
Skyworks Solutions Inc is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Company’s portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics.
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