Oakbrook Investments LLC Buys New Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)
Oakbrook Investments LLC purchased a new position in Skyworks Solutions, Inc. (NASDAQ:SWKS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,975 shares of the semiconductor manufacturer’s stock, valued at approximately $669,000.
Other institutional investors also recently made changes to their positions in the company. Cim LLC boosted its position in shares of Skyworks Solutions by 3.6% in the first quarter. Cim LLC now owns 6,118 shares of the semiconductor manufacturer’s stock worth $599,000 after buying an additional 215 shares during the period. USA Financial Portformulas Corp acquired a new stake in shares of Skyworks Solutions during the fourth quarter worth $1,369,000. Advisory Services Network LLC acquired a new stake in shares of Skyworks Solutions during the first quarter worth $1,340,000. Contravisory Investment Management Inc. acquired a new stake in shares of Skyworks Solutions during the first quarter worth $6,378,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Skyworks Solutions by 3.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,878 shares of the semiconductor manufacturer’s stock worth $2,927,000 after buying an additional 886 shares in the last quarter. 81.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of Skyworks Solutions, Inc. (SWKS) remained flat at $102.21 during mid-day trading on Friday. The stock had a trading volume of 1,139,401 shares. The company has a market cap of $18.78 billion, a price-to-earnings ratio of 19.62 and a beta of 0.82. Skyworks Solutions, Inc. has a 1-year low of $65.76 and a 1-year high of $112.11. The stock has a 50-day moving average of $103.25 and a 200-day moving average of $100.57.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.05. Skyworks Solutions had a return on equity of 28.67% and a net margin of 27.86%. The firm had revenue of $900.80 million during the quarter, compared to analyst estimates of $890.58 million. During the same quarter in the previous year, the business earned $1.24 EPS. Skyworks Solutions’s revenue for the quarter was up 19.8% compared to the same quarter last year. Analysts anticipate that Skyworks Solutions, Inc. will post $6.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 8th will be paid a dividend of $0.32 per share. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, August 4th. Skyworks Solutions’s payout ratio is 24.57%.
A number of equities research analysts have recently weighed in on SWKS shares. ValuEngine lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. BMO Capital Markets reiterated a “hold” rating and issued a $100.00 price objective on shares of Skyworks Solutions in a research report on Friday, July 21st. Canaccord Genuity lifted their price objective on Skyworks Solutions from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Pacific Crest reiterated an “overweight” rating on shares of Skyworks Solutions in a research report on Monday, April 24th. Finally, Mizuho reiterated a “buy” rating on shares of Skyworks Solutions in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. Skyworks Solutions presently has a consensus rating of “Buy” and a consensus target price of $110.43.
In other news, insider Liam Griffin sold 8,056 shares of the business’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 transaction of $848,377.36. Following the transaction, the insider now directly owns 54,310 shares in the company, valued at approximately $5,719,386.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Christine King sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $108.84, for a total value of $380,940.00. Following the transaction, the director now owns 16,436 shares in the company, valued at $1,788,894.24. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by 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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