Narwhal Capital Management Has $1,432,000 Stake in Skyworks Solutions Inc. (SWKS)
Narwhal Capital Management raised its position in Skyworks Solutions Inc. (NASDAQ:SWKS) by 11.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,625 shares of the semiconductor manufacturer’s stock after buying an additional 2,400 shares during the period. Narwhal Capital Management’s holdings in Skyworks Solutions were worth $1,432,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Skyworks Solutions by 568.4% in the first quarter. JPMorgan Chase & Co. now owns 849,066 shares of the semiconductor manufacturer’s stock worth $66,142,000 after buying an additional 1,030,325 shares in the last quarter. Investment Centers of America Inc. increased its stake in Skyworks Solutions by 8.0% in the first quarter. Investment Centers of America Inc. now owns 10,873 shares of the semiconductor manufacturer’s stock worth $847,000 after buying an additional 807 shares in the last quarter. Southpoint Capital Advisors LP purchased a new stake in Skyworks Solutions during the first quarter worth approximately $27,265,000. Legal & General Group Plc increased its stake in Skyworks Solutions by 2.7% in the first quarter. Legal & General Group Plc now owns 775,695 shares of the semiconductor manufacturer’s stock worth $60,427,000 after buying an additional 20,386 shares in the last quarter. Finally, Bancorpsouth Inc. purchased a new stake in Skyworks Solutions during the first quarter worth approximately $260,000. Institutional investors own 76.66% of the company’s stock.
Skyworks Solutions Inc. (NASDAQ:SWKS) traded up 1.35% during trading on Wednesday, reaching $76.74. The company’s stock had a trading volume of 2,551,890 shares. Skyworks Solutions Inc. has a 52-week low of $54.50 and a 52-week high of $89.72. The stock has a market cap of $14.39 billion, a P/E ratio of 15.20 and a beta of 1.15. The firm’s 50-day moving average is $71.47 and its 200-day moving average is $69.32.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. The company earned $751.70 million during the quarter, compared to analysts’ expectations of $750.22 million. Skyworks Solutions had a return on equity of 29.31% and a net margin of 29.32%. Equities research analysts forecast that Skyworks Solutions Inc. will post $5.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 4th were issued a $0.28 dividend. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.46%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 22.18%.
SWKS has been the topic of a number of recent analyst reports. Credit Agricole SA initiated coverage on Skyworks Solutions in a research report on Tuesday, May 24th. They set an “underperform” rating on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $69.00 target price on shares of Skyworks Solutions in a research report on Tuesday, May 31st. Pacific Crest reaffirmed an “overweight” rating and set a $90.00 target price on shares of Skyworks Solutions in a research report on Tuesday, June 7th. Vetr lowered Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $74.14 target price on the stock. in a research report on Tuesday, June 7th. Finally, B. Riley lowered Skyworks Solutions to a “buy” rating in a research report on Monday, June 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $83.04.
In other news, VP Laura A. Gasparini sold 2,650 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $74.84, for a total value of $198,326.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David J. Aldrich sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $59.46, for a total value of $891,900.00. Following the completion of the transaction, the chairman now owns 140,327 shares of the company’s stock, valued at approximately $8,343,843.42. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.
Skyworks Solutions Company Profile
Skyworks Solutions Inc is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Company’s portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics.
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