Kinneret Advisory LLC Invests $146,000 in Skyworks Solutions Inc (SWKS)
Kinneret Advisory LLC acquired a new position in shares of Skyworks Solutions Inc (NASDAQ:SWKS) in the 4th quarter, HoldingsChannel reports. The firm acquired 2,179 shares of the semiconductor manufacturer’s stock, valued at approximately $146,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Montrusco Bolton Investments Inc. lifted its position in Skyworks Solutions by 1.7% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 135,861 shares of the semiconductor manufacturer’s stock worth $8,997,000 after purchasing an additional 2,252 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Skyworks Solutions by 13.7% in the third quarter. Nordea Investment Management AB now owns 153,613 shares of the semiconductor manufacturer’s stock worth $13,935,000 after acquiring an additional 18,513 shares during the last quarter. Montag & Caldwell LLC lifted its holdings in shares of Skyworks Solutions by 17.5% in the fourth quarter. Montag & Caldwell LLC now owns 3,349 shares of the semiconductor manufacturer’s stock worth $224,000 after acquiring an additional 498 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Skyworks Solutions by 85.5% in the third quarter. Commonwealth Bank of Australia now owns 49,041 shares of the semiconductor manufacturer’s stock worth $4,444,000 after acquiring an additional 22,600 shares during the last quarter. Finally, Norinchukin Bank The lifted its holdings in shares of Skyworks Solutions by 43.5% in the fourth quarter. Norinchukin Bank The now owns 33,026 shares of the semiconductor manufacturer’s stock worth $2,213,000 after acquiring an additional 10,006 shares during the last quarter. 81.15% of the stock is owned by institutional investors and hedge funds.
SWKS has been the subject of a number of research reports. TheStreet raised shares of Skyworks Solutions from a “c+” rating to a “b-” rating in a report on Wednesday, February 27th. B. Riley reissued a “neutral” rating and issued a $80.00 target price (down previously from $89.00) on shares of Skyworks Solutions in a report on Wednesday, January 9th. BidaskClub raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Morgan Stanley dropped their target price on shares of Skyworks Solutions from $74.00 to $71.00 and set an “equal weight” rating for the company in a report on Monday, January 7th. Finally, ValuEngine raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. Skyworks Solutions presently has a consensus rating of “Hold” and a consensus target price of $93.00.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.12. Skyworks Solutions had a return on equity of 29.30% and a net margin of 29.91%. The company had revenue of $972.00 million during the quarter, compared to the consensus estimate of $974.70 million. During the same quarter in the prior year, the firm posted $2.00 earnings per share. The firm’s revenue was down 7.6% compared to the same quarter last year. Analysts expect that Skyworks Solutions Inc will post 5.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 19th. Stockholders of record on Tuesday, February 26th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, February 25th. Skyworks Solutions’s dividend payout ratio is currently 22.93%.
Skyworks Solutions announced that its board has authorized a share repurchase plan on Tuesday, February 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 15.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other Skyworks Solutions news, insider Peter L. Gammel sold 1,915 shares of the stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $83.91, for a total transaction of $160,687.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David J. Aldrich sold 3,000 shares of the stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $81.05, for a total transaction of $243,150.00. Following the sale, the director now directly owns 203,922 shares of the company’s stock, valued at approximately $16,527,878.10. The disclosure for this sale can be found here. Insiders have sold a total of 7,567 shares of company stock valued at $585,367 in the last three months. Insiders own 0.47% of the company’s stock.
Skyworks Solutions Company Profile
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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