Lazard Asset Management LLC raised its holdings in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 21.6% in the 4th quarter, Holdings Channel reports. The firm owned 5,616,559 shares of the semiconductor manufacturer’s stock after purchasing an additional 998,446 shares during the quarter. Skyworks Solutions comprises about 1.0% of Lazard Asset Management LLC’s investment portfolio, making the stock its 28th biggest holding. Lazard Asset Management LLC’s holdings in Skyworks Solutions were worth $533,291,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Financial Engines Advisors L.L.C. bought a new stake in Skyworks Solutions during the third quarter valued at $126,000. Intact Investment Management Inc. bought a new stake in Skyworks Solutions during the third quarter valued at $204,000. Park Avenue Securities LLC bought a new stake in Skyworks Solutions during the third quarter valued at $211,000. Dynamic Technology Lab Private Ltd bought a new stake in Skyworks Solutions during the second quarter valued at $202,000. Finally, Checchi Capital Advisers LLC bought a new stake in Skyworks Solutions during the fourth quarter valued at $224,000. Hedge funds and other institutional investors own 81.06% of the company’s stock.
SWKS has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. BMO Capital Markets upgraded shares of Skyworks Solutions from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 6th. They noted that the move was a valuation call. Morgan Stanley upped their price target on shares of Skyworks Solutions from $86.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 13th. Drexel Hamilton restated a “buy” rating and set a $128.00 price target (up previously from $120.00) on shares of Skyworks Solutions in a research report on Tuesday, November 7th. Finally, BidaskClub lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $115.93.
Skyworks Solutions Inc (NASDAQ:SWKS) opened at $109.25 on Thursday. The company has a market capitalization of $20,127.85, a price-to-earnings ratio of 24.77, a P/E/G ratio of 1.09 and a beta of 0.69. Skyworks Solutions Inc has a 12-month low of $93.05 and a 12-month high of $117.65.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Monday, February 5th. The semiconductor manufacturer reported $2.00 EPS for the quarter, topping the consensus estimate of $1.91 by $0.09. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Skyworks Solutions had a return on equity of 30.21% and a net margin of 21.72%. Skyworks Solutions’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $1.61 earnings per share. equities analysts predict that Skyworks Solutions Inc will post 6.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 22nd will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.17%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 29.03%.
Skyworks Solutions declared that its Board of Directors has initiated a share buyback plan on Monday, February 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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About Skyworks Solutions
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
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