Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Bought by Denali Advisors LLC

Denali Advisors LLC grew its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 49.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,808 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,600 shares during the quarter. Denali Advisors LLC’s holdings in Skyworks Solutions were worth $512,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Duality Advisers LP acquired a new stake in Skyworks Solutions during the 1st quarter valued at $1,517,000. State of Tennessee Treasury Department boosted its stake in shares of Skyworks Solutions by 152.8% during the fourth quarter. State of Tennessee Treasury Department now owns 118,960 shares of the semiconductor manufacturer’s stock valued at $13,373,000 after acquiring an additional 71,899 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Skyworks Solutions during the 4th quarter worth about $10,053,000. Brookstone Capital Management acquired a new position in Skyworks Solutions in the 1st quarter valued at about $262,000. Finally, FIL Ltd lifted its holdings in Skyworks Solutions by 2.4% in the 4th quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after purchasing an additional 64,389 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SWKS shares. Barclays boosted their price objective on shares of Skyworks Solutions from $85.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group upgraded Skyworks Solutions to a “hold” rating in a report on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Bank of America upped their target price on Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, July 31st. Finally, Craig Hallum increased their target price on Skyworks Solutions from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $113.94.

Skyworks Solutions Stock Down 0.5 %

Shares of NASDAQ SWKS opened at $96.75 on Wednesday. The stock has a fifty day moving average price of $107.71 and a 200 day moving average price of $103.17. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 12-month low of $85.06 and a 12-month high of $120.86. The company has a market cap of $15.45 billion, a P/E ratio of 18.19, a P/E/G ratio of 4.56 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. The business had revenue of $905.50 million during the quarter, compared to analyst estimates of $900.41 million. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.50 earnings per share. Research analysts anticipate that Skyworks Solutions, Inc. will post 5.21 EPS for the current fiscal year.

Skyworks Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were paid a $0.70 dividend. The ex-dividend date was Tuesday, August 20th. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 2.89%. Skyworks Solutions’s dividend payout ratio is 52.63%.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, SVP Reza Kasnavi sold 1,843 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $107.47, for a total value of $198,067.21. Following the transaction, the senior vice president now owns 17,455 shares in the company, valued at approximately $1,875,888.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total transaction of $54,240.00. Following the completion of the sale, the vice president now owns 9,112 shares in the company, valued at approximately $1,093,440. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Reza Kasnavi sold 1,843 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the transaction, the senior vice president now directly owns 17,455 shares in the company, valued at $1,875,888.85. The disclosure for this sale can be found here. In the last three months, insiders sold 12,068 shares of company stock valued at $1,252,490. Corporate insiders own 0.34% of the company’s stock.

About Skyworks Solutions

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, 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, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.