Sheets Smith Wealth Management boosted its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,396 shares of the semiconductor manufacturer’s stock after buying an additional 2,721 shares during the period. Sheets Smith Wealth Management’s holdings in Skyworks Solutions were worth $2,149,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SWKS. BlackRock Inc. increased its position in Skyworks Solutions by 3,071.2% in the first quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock worth $1,181,019,000 after buying an additional 11,673,555 shares in the last quarter. Winslow Capital Management LLC bought a new position in shares of Skyworks Solutions during the first quarter worth $205,388,000. Boston Partners bought a new position in shares of Skyworks Solutions during the first quarter worth $82,702,000. AQR Capital Management LLC increased its position in shares of Skyworks Solutions by 138.9% in the first quarter. AQR Capital Management LLC now owns 1,406,274 shares of the semiconductor manufacturer’s stock worth $137,787,000 after buying an additional 817,721 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Skyworks Solutions by 2.7% in the first quarter. Vanguard Group Inc. now owns 17,823,006 shares of the semiconductor manufacturer’s stock worth $1,746,298,000 after buying an additional 466,480 shares during the period. 81.27% of the stock is currently owned by hedge funds and other institutional investors.
Skyworks Solutions, Inc. (SWKS) traded down 0.1397% during midday trading on Friday, reaching $107.4896. The company’s stock had a trading volume of 2,685,371 shares. The firm’s 50-day moving average price is $102.89 and its 200-day moving average price is $97.40. Skyworks Solutions, Inc. has a 52 week low of $62.40 and a 52 week high of $112.11. The stock has a market capitalization of $19.83 billion, a PE ratio of 22.1582 and a beta of 0.81.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. The business had revenue of $900.80 million during the quarter, compared to the consensus estimate of $890.58 million. Skyworks Solutions had a return on equity of 28.00% and a net margin of 27.27%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 EPS. On average, analysts anticipate that Skyworks Solutions, Inc. will post $6.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 8th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.19%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.28. Skyworks Solutions’s dividend payout ratio is presently 23.05%.
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Several equities research analysts have commented on the stock. B. Riley reaffirmed a “buy” rating and set a $120.00 price objective on shares of Skyworks Solutions in a report on Friday, April 28th. Barclays PLC reiterated an “overweight” rating on shares of Skyworks Solutions in a research report on Friday. Mizuho upped their price target on Skyworks Solutions from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Craig Hallum upped their price objective on shares of Skyworks Solutions from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Cowen and Company restated a “market perform” rating and issued a $110.00 price objective on shares of Skyworks Solutions in a research report on Friday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $104.53.
In related news, insider David J. Aldrich sold 47,475 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $102.00, for a total value of $4,842,450.00. Following the completion of the sale, the insider now directly owns 191,731 shares in the company, valued at approximately $19,556,562. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christine King sold 3,500 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $108.84, for a total value of $380,940.00. Following the completion of the sale, the director now owns 16,436 shares of the company’s stock, valued at $1,788,894.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,458 shares of company stock valued at $9,512,091. Insiders own 0.49% of the company’s stock.
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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