Raymond James Financial Services Advisors Inc. lowered its holdings in Skyworks Solutions Inc (NASDAQ:SWKS) by 58.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,669 shares of the semiconductor manufacturer’s stock after selling 46,722 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Skyworks Solutions were worth $2,257,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nordea Investment Management AB lifted its stake in shares of Skyworks Solutions by 13.7% in the 3rd quarter. Nordea Investment Management AB now owns 153,613 shares of the semiconductor manufacturer’s stock valued at $13,935,000 after purchasing an additional 18,513 shares during the period. Montag & Caldwell LLC lifted its stake in shares of Skyworks Solutions by 17.5% in the 4th quarter. Montag & Caldwell LLC now owns 3,349 shares of the semiconductor manufacturer’s stock valued at $224,000 after purchasing an additional 498 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of Skyworks Solutions by 85.5% in the 3rd quarter. Commonwealth Bank of Australia now owns 49,041 shares of the semiconductor manufacturer’s stock valued at $4,444,000 after purchasing an additional 22,600 shares during the period. Norinchukin Bank The lifted its stake in shares of Skyworks Solutions by 43.5% in the 4th quarter. Norinchukin Bank The now owns 33,026 shares of the semiconductor manufacturer’s stock valued at $2,213,000 after purchasing an additional 10,006 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Skyworks Solutions by 24.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 32,251 shares of the semiconductor manufacturer’s stock valued at $2,926,000 after purchasing an additional 6,350 shares during the period. Institutional investors and hedge funds own 81.15% of the company’s stock.
A number of research firms have recently commented on SWKS. BMO Capital Markets raised their target price on Skyworks Solutions to $94.00 and gave the company a “positive” rating in a research note on Wednesday, February 6th. BidaskClub upgraded Skyworks Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. ValuEngine upgraded Skyworks Solutions from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 6th. UBS Group began coverage on Skyworks Solutions in a research note on Thursday, December 6th. They issued a “neutral” rating and a $70.00 target price for the company. Finally, Susquehanna Bancshares began coverage on Skyworks Solutions in a research note on Friday, December 7th. They issued a “neutral” rating and a $80.00 target price for the company. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $93.00.
Shares of NASDAQ:SWKS opened at $81.43 on Friday. The firm has a market cap of $14.35 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.26 and a beta of 0.69. Skyworks Solutions Inc has a 12-month low of $60.12 and a 12-month high of $112.16.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.12. The business had revenue of $972.00 million during the quarter, compared to analysts’ expectations of $974.70 million. Skyworks Solutions had a return on equity of 29.30% and a net margin of 29.91%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.00 earnings per share. As a group, equities research analysts forecast that Skyworks Solutions Inc will post 5.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Tuesday, February 26th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Monday, February 25th. Skyworks Solutions’s payout ratio is 22.93%.
Skyworks Solutions announced that its board has approved a share buyback program on Tuesday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 15.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
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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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