Wedbush Securities Inc. Decreases Position in Skyworks Solutions, Inc. (SWKS)
Wedbush Securities Inc. lowered its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,151 shares of the semiconductor manufacturer’s stock after selling 15 shares during the period. Wedbush Securities Inc.’s holdings in Skyworks Solutions were worth $206,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Skyworks Solutions during the first quarter valued at $1,340,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position 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 valued at $2,927,000 after buying an additional 886 shares during the period. Swiss National Bank raised its position in shares of Skyworks Solutions by 26.3% in the first quarter. Swiss National Bank now owns 658,400 shares of the semiconductor manufacturer’s stock valued at $64,510,000 after buying an additional 137,100 shares during the period. Cibc World Markets Corp raised its position in Skyworks Solutions by 47.4% in the first quarter. Cibc World Markets Corp now owns 20,264 shares of the semiconductor manufacturer’s stock worth $1,985,000 after buying an additional 6,514 shares during the last quarter. Finally, Shelton Capital Management raised its position in Skyworks Solutions by 60.1% in the first quarter. Shelton Capital Management now owns 38,286 shares of the semiconductor manufacturer’s stock worth $3,751,000 after buying an additional 14,365 shares during the last quarter. 81.26% of the stock is owned by institutional investors and hedge funds.
Skyworks Solutions, Inc. (NASDAQ:SWKS) opened at 101.01 on Tuesday. The stock has a 50 day moving average price of $103.40 and a 200 day moving average price of $100.77. Skyworks Solutions, Inc. has a 12-month low of $65.76 and a 12-month high of $112.11. The stock has a market cap of $18.56 billion, a P/E ratio of 19.39 and a beta of 0.82.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.05. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The firm had revenue of $900.80 million during the quarter, compared to the consensus estimate of $890.58 million. During the same quarter last year, the firm earned $1.24 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, analysts forecast that Skyworks Solutions, Inc. will post $6.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 8th will be issued a $0.32 dividend. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, August 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.27%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 24.57%.
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SWKS has been the subject of a number of analyst reports. Charter Equity reaffirmed a “buy” rating on shares of Skyworks Solutions in a report on Saturday, April 29th. Mizuho reaffirmed a “buy” rating on shares of Skyworks Solutions in a report on Friday, April 28th. Canaccord Genuity raised their price target on Skyworks Solutions from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 price target (up from $92.00) on shares of Skyworks Solutions in a report on Friday, April 28th. Finally, Craig Hallum raised their price target on Skyworks Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $110.15.
In related news, Director Christine King sold 3,500 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $108.84, for a total value of $380,940.00. Following the completion of the transaction, the director now owns 16,436 shares of the company’s stock, valued at approximately $1,788,894.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Liam Griffin sold 8,056 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $105.31, for a total transaction of $848,377.36. Following the completion of the transaction, the insider now directly owns 54,310 shares of the company’s stock, valued at approximately $5,719,386.10. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company 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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