Occidental Asset Management LLC lifted its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 17.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,177 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,044 shares during the quarter. Occidental Asset Management LLC’s holdings in Skyworks Solutions were worth $555,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in SWKS. Sigma Planning Corp grew its holdings in Skyworks Solutions by 5.7% during the second quarter. Sigma Planning Corp now owns 4,148 shares of the semiconductor manufacturer’s stock worth $321,000 after acquiring an additional 223 shares during the period. Stephens Inc. AR acquired a new position in Skyworks Solutions during the second quarter worth $213,000. TRUE Private Wealth Advisors acquired a new position in Skyworks Solutions during the second quarter worth $142,000. Amica Retiree Medical Trust grew its holdings in Skyworks Solutions by 127.9% during the second quarter. Amica Retiree Medical Trust now owns 4,007 shares of the semiconductor manufacturer’s stock worth $310,000 after acquiring an additional 2,249 shares during the period. Finally, Sandy Spring Bank grew its holdings in Skyworks Solutions by 3.4% during the second quarter. Sandy Spring Bank now owns 21,649 shares of the semiconductor manufacturer’s stock worth $1,672,000 after acquiring an additional 720 shares during the period. Institutional investors and hedge funds own 81.08% of the company’s stock.
Shares of Skyworks Solutions stock traded down $0.54 during trading hours on Thursday, reaching $75.45. The stock had a trading volume of 98,913 shares, compared to its average volume of 2,300,193. The business’s 50 day simple moving average is $80.72. The firm has a market capitalization of $13.10 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.02. Skyworks Solutions Inc has a 1 year low of $60.12 and a 1 year high of $94.39.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.14. The company had revenue of $767.00 million for the quarter, compared to the consensus estimate of $767.71 million. Skyworks Solutions had a return on equity of 26.60% and a net margin of 26.10%. The company’s quarterly revenue was down 14.2% compared to the same quarter last year. During the same period last year, the business posted $1.64 EPS. As a group, equities analysts expect that Skyworks Solutions Inc will post 5.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th will be paid a $0.44 dividend. The ex-dividend date is Monday, August 26th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.38. Skyworks Solutions’s dividend payout ratio (DPR) is 22.93%.
In other news, Director David J. Aldrich sold 5,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $79.40, for a total value of $397,000.00. Following the completion of the sale, the director now owns 208,032 shares in the company, valued at $16,517,740.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy R. Furey sold 2,500 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $73.51, for a total value of $183,775.00. Following the completion of the sale, the director now owns 24,324 shares of the company’s stock, valued at approximately $1,788,057.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,750 shares of company stock valued at $3,984,835. Insiders own 0.64% of the company’s stock.
SWKS has been the topic of a number of recent analyst reports. Barclays lowered Skyworks Solutions from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $75.00 to $80.00 in a report on Thursday, July 18th. Piper Jaffray Companies lowered their target price on Skyworks Solutions from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, June 5th. Macquarie lowered Skyworks Solutions from an “outperform” rating to a “neutral” rating and set a $92.80 target price on the stock. in a report on Wednesday, April 17th. Citigroup upped their target price on Skyworks Solutions from $81.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Finally, MKM Partners lowered their target price on Skyworks Solutions to $90.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $86.40.
Skyworks Solutions Company Profile
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED 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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