CCM Investment Advisers LLC trimmed its position in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 13.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,670 shares of the semiconductor manufacturer’s stock after selling 10,443 shares during the quarter. CCM Investment Advisers LLC’s holdings in Skyworks Solutions were worth $6,330,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Park Avenue Securities LLC purchased a new stake in Skyworks Solutions in the 3rd quarter worth $211,000. Checchi Capital Advisers LLC purchased a new stake in Skyworks Solutions in the 4th quarter worth $224,000. Granite Springs Asset Management LLC purchased a new stake in Skyworks Solutions in the 4th quarter worth $230,000. We Are One Seven LLC purchased a new stake in Skyworks Solutions in the 4th quarter worth $235,000. Finally, Zions Bancorporation increased its holdings in Skyworks Solutions by 7,738.7% in the 3rd quarter. Zions Bancorporation now owns 2,430 shares of the semiconductor manufacturer’s stock worth $247,000 after acquiring an additional 2,399 shares in the last quarter. 83.17% of the stock is owned by hedge funds and other institutional investors.
Skyworks Solutions stock opened at $108.47 on Thursday. The firm has a market cap of $19,950.85, a PE ratio of 24.60, a PEG ratio of 1.08 and a beta of 0.55. Skyworks Solutions Inc has a 1 year low of $93.05 and a 1 year high of $117.65.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Monday, February 5th. The semiconductor manufacturer reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.09. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Skyworks Solutions had a net margin of 21.72% and a return on equity of 30.21%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS. research analysts anticipate that Skyworks Solutions Inc will post 6.67 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 1.18%. Skyworks Solutions’s payout ratio is 29.03%.
Skyworks Solutions declared that its Board of Directors has authorized a stock repurchase plan on Monday, February 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
SWKS has been the subject of several recent analyst reports. BMO Capital Markets raised shares of Skyworks Solutions from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 6th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on shares of Skyworks Solutions from $86.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, December 13th. BidaskClub lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Piper Jaffray Companies reissued a “buy” rating and issued a $115.00 price target on shares of Skyworks Solutions in a report on Wednesday, December 27th. Finally, Vetr lowered shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $105.96 price target for the company. in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Skyworks Solutions presently has a consensus rating of “Buy” and a consensus price target of $117.09.
In other news, insider Peter L. Gammel sold 10,750 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $111.21, for a total transaction of $1,195,507.50. Following the transaction, the insider now owns 18,670 shares of the company’s stock, valued at approximately $2,076,290.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Peter L. Gammel sold 7,800 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $100.60, for a total transaction of $784,680.00. Following the transaction, the insider now directly owns 12,680 shares in the company, valued at approximately $1,275,608. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,050 shares of company stock worth $10,415,738. 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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