Canandaigua National Bank & Trust Co. Raises Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Canandaigua National Bank & Trust Co. lifted its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKSFree Report) by 288.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 15,850 shares of the semiconductor manufacturer’s stock after acquiring an additional 11,771 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Skyworks Solutions were worth $1,717,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Pzena Investment Management LLC acquired a new position in shares of Skyworks Solutions during the 4th quarter worth approximately $302,309,000. Norges Bank acquired a new position in shares of Skyworks Solutions during the 4th quarter worth approximately $226,266,000. Pacer Advisors Inc. raised its stake in shares of Skyworks Solutions by 40.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,601,879 shares of the semiconductor manufacturer’s stock worth $180,083,000 after buying an additional 465,223 shares during the period. KBC Group NV raised its stake in shares of Skyworks Solutions by 2,156.7% during the 4th quarter. KBC Group NV now owns 440,372 shares of the semiconductor manufacturer’s stock worth $49,506,000 after buying an additional 420,858 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Skyworks Solutions by 42.0% during the 3rd quarter. AQR Capital Management LLC now owns 1,145,660 shares of the semiconductor manufacturer’s stock worth $112,951,000 after buying an additional 338,838 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SWKS shares. JPMorgan Chase & Co. reduced their price objective on Skyworks Solutions from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. KeyCorp cut Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a report on Monday, April 8th. TD Cowen cut Skyworks Solutions from a “buy” rating to a “hold” rating and lowered their price target for the stock from $125.00 to $90.00 in a report on Wednesday, May 1st. Wolfe Research cut Skyworks Solutions from an “outperform” rating to a “peer perform” rating in a report on Thursday, May 9th. Finally, Rosenblatt Securities lowered their target price on Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Skyworks Solutions presently has a consensus rating of “Hold” and a consensus price target of $106.25.

Check Out Our Latest Report on Skyworks Solutions

Insider Activity

In other news, Director Robert A. Schriesheim sold 25,433 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $90.27, for a total value of $2,295,836.91. Following the sale, the director now directly owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Skyworks Solutions news, CEO Liam Griffin bought 11,142 shares of the stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the acquisition, the chief executive officer now owns 104,153 shares of the company’s stock, valued at $9,373,770. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the sale, the director now directly owns 60,881 shares of the company’s stock, valued at approximately $5,495,727.87. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Skyworks Solutions Stock Performance

SWKS stock traded up $0.68 on Tuesday, reaching $106.98. The company’s stock had a trading volume of 717,886 shares, compared to its average volume of 2,389,279. Skyworks Solutions, Inc. has a 52 week low of $85.06 and a 52 week high of $115.69. The company has a market capitalization of $17.16 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 4.89 and a beta of 1.24. The firm has a fifty day moving average of $96.37 and a two-hundred day moving average of $102.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.19 and a quick ratio of 3.81.

Skyworks Solutions (NASDAQ:SWKSGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. As a group, analysts predict that Skyworks Solutions, Inc. will post 5.22 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st were issued a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.54%. Skyworks Solutions’s payout ratio is currently 51.13%.

Skyworks Solutions Company Profile

(Free Report)

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.

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Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

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