Commerce Bank cut its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 5.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,349 shares of the semiconductor manufacturer’s stock after selling 325 shares during the period. Commerce Bank’s holdings in Skyworks Solutions were worth $513,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in SWKS. BlackRock Inc. lifted its holdings in Skyworks Solutions by 3,071.2% during the 1st quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock valued at $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 1st quarter worth approximately $205,388,000. Boston Partners bought a new position in shares of Skyworks Solutions during the 1st quarter worth approximately $82,702,000. AQR Capital Management LLC raised its stake in shares of Skyworks Solutions by 138.9% during the 1st quarter. AQR Capital Management LLC now owns 1,406,274 shares of the semiconductor manufacturer’s stock worth $137,787,000 after acquiring an additional 817,721 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Skyworks Solutions by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 17,823,006 shares of the semiconductor manufacturer’s stock worth $1,746,298,000 after acquiring an additional 466,480 shares in the last quarter. Institutional investors own 80.86% of the company’s stock.
SWKS has been the topic of several recent research reports. Craig Hallum reaffirmed a “buy” rating on shares of Skyworks Solutions in a report on Wednesday. KeyCorp restated an “overweight” rating on shares of Skyworks Solutions in a research report on Thursday. Zacks Investment Research upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research report on Monday. Instinet assumed coverage on shares of Skyworks Solutions in a report on Wednesday, September 6th. They issued a “buy” rating and a $115.00 price objective for the company. Finally, Citigroup Inc. raised shares of Skyworks Solutions from a “sell” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $111.83.
Skyworks Solutions, Inc. (NASDAQ:SWKS) traded up 1.16% during mid-day trading on Friday, reaching $108.32. The company’s stock had a trading volume of 573,673 shares. Skyworks Solutions, Inc. has a 52-week low of $71.65 and a 52-week high of $112.11. The stock has a market cap of $19.90 billion, a PE ratio of 20.79 and a beta of 0.81. The company has a 50 day moving average of $104.33 and a 200-day moving average of $102.04.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.05. The business had revenue of $900.80 million for the quarter, compared to analyst estimates of $890.58 million. Skyworks Solutions had a return on equity of 28.67% and a net margin of 27.86%. Skyworks Solutions’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.24 earnings per share. Equities analysts forecast that Skyworks Solutions, Inc. will post $6.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 8th were paid a $0.32 dividend. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, August 4th. This represents a $1.28 annualized dividend and a yield of 1.20%. Skyworks Solutions’s dividend payout ratio is currently 24.57%.
In other Skyworks Solutions news, insider Liam Griffin sold 8,056 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $105.31, for a total value of $848,377.36. Following the sale, the insider now owns 54,310 shares in the company, valued at $5,719,386.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christine King sold 3,705 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total value of $395,768.10. Following the completion of the sale, the director now owns 16,641 shares in the company, valued at approximately $1,777,591.62. The disclosure for this sale can be found here. Insiders sold 14,371 shares of company stock worth $1,505,093 in the last 90 days. Corporate 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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