Synovus Financial Corp Has $2.95 Million Holdings in Skyworks Solutions, Inc. (SWKS)
Synovus Financial Corp boosted its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 60.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 31,098 shares of the semiconductor manufacturer’s stock after acquiring an additional 11,738 shares during the quarter. Synovus Financial Corp’s holdings in Skyworks Solutions were worth $2,953,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Engines Advisors L.L.C. bought a new stake in shares of Skyworks Solutions during the 3rd quarter valued at about $126,000. Intact Investment Management Inc. bought a new stake in shares of Skyworks Solutions during the 3rd quarter valued at about $204,000. Round Table Services LLC bought a new stake in shares of Skyworks Solutions during the 3rd quarter valued at about $204,000. Park Avenue Securities LLC bought a new stake in shares of Skyworks Solutions during the 3rd quarter valued at about $211,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Skyworks Solutions during the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 81.06% of the company’s stock.
Skyworks Solutions, Inc. (SWKS) opened at $106.41 on Wednesday. Skyworks Solutions, Inc. has a 12 month low of $93.02 and a 12 month high of $117.65. The stock has a market capitalization of $19,420.00, a P/E ratio of 24.13, a PEG ratio of 1.03 and a beta of 0.69.
Skyworks Solutions announced that its board has approved a stock buyback program on Monday, February 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 22nd will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 1.20%. Skyworks Solutions’s dividend payout ratio is presently 29.02%.
In related news, insider Peter L. Gammel sold 12,500 shares of Skyworks Solutions stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $103.96, for a total transaction of $1,299,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Carlos S. Bori sold 2,151 shares of Skyworks Solutions stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $107.20, for a total value of $230,587.20. Following the sale, the senior vice president now owns 9,372 shares in the company, valued at $1,004,678.40. The disclosure for this sale can be found here. Insiders have sold 62,248 shares of company stock worth $6,147,652 over the last 90 days. 0.49% of the stock is currently owned by corporate insiders.
A number of equities analysts recently weighed in on SWKS shares. B. Riley reissued a “buy” rating and set a $131.00 price objective on shares of Skyworks Solutions in a report on Tuesday, November 7th. Piper Jaffray Companies reissued a “buy” rating and set a $115.00 price objective on shares of Skyworks Solutions in a report on Wednesday, December 27th. Zacks Investment Research raised Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Friday, November 10th. BidaskClub cut Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Finally, Canaccord Genuity reissued a “buy” rating and set a $115.00 price objective on shares of Skyworks Solutions in a report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $115.93.
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Skyworks Solutions Profile
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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