Legacy Wealth Asset Management LLC acquired a new position in Skyworks Solutions, Inc. (NASDAQ:SWKS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,078 shares of the semiconductor manufacturer’s stock, valued at approximately $623,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SWKS. Cordasco Financial Network purchased a new stake in Skyworks Solutions in the 4th quarter worth about $25,000. Hudock Inc. boosted its stake in Skyworks Solutions by 344.4% in the 4th quarter. Hudock Inc. now owns 240 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 186 shares during the period. Birchcreek Wealth Management LLC bought a new position in Skyworks Solutions in the 4th quarter worth about $38,000. Mcmillion Capital Management Inc. bought a new position in Skyworks Solutions in the 4th quarter worth about $40,000. Finally, Tompkins Financial Corp bought a new position in Skyworks Solutions in the 4th quarter worth about $41,000. 76.32% of the stock is owned by institutional investors.
Shares of Skyworks Solutions stock opened at $187.23 on Thursday. The business’s 50 day simple moving average is $180.03 and its two-hundred day simple moving average is $159.27. The stock has a market capitalization of $30.91 billion, a P/E ratio of 39.09, a price-to-earnings-growth ratio of 1.86 and a beta of 1.21. Skyworks Solutions, Inc. has a one year low of $88.08 and a one year high of $195.82.
Skyworks Solutions declared that its board has initiated a stock buyback plan on Thursday, January 28th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 9th. Shareholders of record on Tuesday, February 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, February 12th. This represents a $2.00 dividend on an annualized basis and a yield of 1.07%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 38.39%.
In other news, CEO Liam Griffin sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $180.35, for a total transaction of $676,312.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by insiders.
SWKS has been the subject of several analyst reports. Citigroup raised their target price on Skyworks Solutions from $137.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, January 25th. Needham & Company LLC raised their target price on Skyworks Solutions from $200.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, January 29th. Morgan Stanley raised their target price on Skyworks Solutions from $155.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Friday, January 29th. B. Riley raised their target price on Skyworks Solutions from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, January 29th. Finally, Raymond James raised their target price on Skyworks Solutions from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, January 29th. Twelve investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Skyworks Solutions has an average rating of “Buy” and an average target price of $175.72.
About Skyworks Solutions
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode 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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