Palladium Partners LLC Cuts Position in Skyworks Solutions Inc (SWKS)
Palladium Partners LLC decreased its position in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 119,526 shares of the semiconductor manufacturer’s stock after selling 496 shares during the period. Palladium Partners LLC owned 0.06% of Skyworks Solutions worth $11,711,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in SWKS. HL Financial Services LLC boosted its position in shares of Skyworks Solutions by 269.5% in the first quarter. HL Financial Services LLC now owns 46,038 shares of the semiconductor manufacturer’s stock worth $4,511,000 after buying an additional 33,578 shares during the period. Essex Financial Services Inc. acquired a new stake in Skyworks Solutions during the first quarter valued at about $247,000. TrimTabs Asset Management LLC boosted its stake in Skyworks Solutions by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock valued at $138,000 after buying an additional 664 shares during the last quarter. Norinchukin Bank The boosted its stake in Skyworks Solutions by 6.6% in the first quarter. Norinchukin Bank The now owns 12,015 shares of the semiconductor manufacturer’s stock valued at $1,177,000 after buying an additional 743 shares during the last quarter. Finally, Pitcairn Co. boosted its stake in Skyworks Solutions by 3.2% in the first quarter. Pitcairn Co. now owns 14,814 shares of the semiconductor manufacturer’s stock valued at $1,451,000 after buying an additional 462 shares during the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.
Skyworks Solutions Inc (NASDAQ:SWKS) remained flat at $106.04 during midday trading on Friday. The company’s stock had a trading volume of 521,802 shares. The company has a 50 day moving average of $101.90 and a 200 day moving average of $90.13. Skyworks Solutions Inc has a 1-year low of $57.11 and a 1-year high of $107.18. The company has a market cap of $19.57 billion, a price-to-earnings ratio of 21.86 and a beta of 0.88.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Thursday, April 27th. The semiconductor manufacturer reported $1.33 EPS for the quarter, topping the consensus estimate of $1.30 by $0.03. The business had revenue of $851.70 million for the quarter, compared to analysts’ expectations of $840.43 million. Skyworks Solutions had a net margin of 27.40% and a return on equity of 27.80%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. On average, equities analysts expect that Skyworks Solutions Inc will post $6.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 16th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Friday, May 12th. Skyworks Solutions’s dividend payout ratio (DPR) is currently 23.63%.
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Several research firms have weighed in on SWKS. ValuEngine cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. Vetr upgraded shares of Skyworks Solutions from a “buy” rating to a “strong-buy” rating and set a $116.14 target price for the company in a report on Wednesday, May 17th. Zacks Investment Research lowered shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 4th. B. Riley restated a “buy” rating and issued a $120.00 price objective on shares of Skyworks Solutions in a report on Wednesday, May 3rd. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $120.00 price objective (up from $105.00) on shares of Skyworks Solutions in a report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $100.60.
In other Skyworks Solutions news, VP Robert John Terry sold 3,233 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $100.26, for a total value of $324,140.58. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David J. Aldrich sold 47,475 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $102.00, for a total transaction of $4,842,450.00. Following the completion of the transaction, the insider now owns 191,731 shares in the company, valued at $19,556,562. The disclosure for this sale can be found here. Insiders sold a total of 91,458 shares of company stock worth $9,278,031 over the last three months. 0.62% of the stock is currently owned by corporate insiders.
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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