Skyworks Solutions Inc (SWKS) Shares Sold by Sciencast Management LP
Sciencast Management LP cut its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 40.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,730 shares of the semiconductor manufacturer’s stock after selling 5,302 shares during the quarter. Sciencast Management LP’s holdings in Skyworks Solutions were worth $756,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of SWKS. American Century Companies Inc. raised its position in Skyworks Solutions by 27.2% during the third quarter. American Century Companies Inc. now owns 190,743 shares of the semiconductor manufacturer’s stock valued at $19,437,000 after purchasing an additional 40,831 shares during the period. Prudential Financial Inc. raised its position in Skyworks Solutions by 3.6% during the third quarter. Prudential Financial Inc. now owns 322,308 shares of the semiconductor manufacturer’s stock valued at $32,843,000 after purchasing an additional 11,110 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in Skyworks Solutions during the third quarter valued at approximately $2,912,000. New York State Common Retirement Fund raised its position in Skyworks Solutions by 1.5% during the third quarter. New York State Common Retirement Fund now owns 431,530 shares of the semiconductor manufacturer’s stock valued at $43,973,000 after purchasing an additional 6,400 shares during the period. Finally, Toronto Dominion Bank raised its position in Skyworks Solutions by 11.5% during the third quarter. Toronto Dominion Bank now owns 69,729 shares of the semiconductor manufacturer’s stock valued at $7,105,000 after purchasing an additional 7,214 shares during the period. Institutional investors and hedge funds own 83.20% of the company’s stock.
Skyworks Solutions Inc (NASDAQ SWKS) opened at $112.26 on Wednesday. Skyworks Solutions Inc has a 52 week low of $93.05 and a 52 week high of $117.65. The stock has a market capitalization of $20,440.00, a P/E ratio of 18.98, a P/E/G ratio of 1.14 and a beta of 0.55.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 22nd will be paid a $0.32 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.14%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 21.69%.
Skyworks Solutions announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
A number of brokerages have issued reports on SWKS. Zacks Investment Research upgraded Skyworks Solutions from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. B. Riley decreased their price objective on Skyworks Solutions from $131.00 to $128.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Drexel Hamilton restated a “buy” rating and set a $128.00 price objective on shares of Skyworks Solutions in a research report on Monday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Skyworks Solutions in a research report on Tuesday, February 6th. Finally, UBS Group upgraded Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Skyworks Solutions currently has an average rating of “Buy” and an average price target of $117.09.
In related news, Chairman David J. Aldrich sold 30,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $106.00, for a total value of $3,180,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Liam Griffin sold 15,059 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $95.09, for a total value of $1,431,960.31. Following the completion of the transaction, the insider now directly owns 62,359 shares in the company, valued at approximately $5,929,717.31. The disclosure for this sale can be found here. In the last three months, insiders sold 103,442 shares of company stock worth $10,954,324. 0.49% of the stock is owned by insiders.
Skyworks Solutions Company 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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