CIBC Asset Management Inc Decreases Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

CIBC Asset Management Inc reduced its position in Skyworks Solutions, Inc. (NASDAQ:SWKSGet Rating) by 28.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,506 shares of the semiconductor manufacturer’s stock after selling 13,568 shares during the quarter. CIBC Asset Management Inc’s holdings in Skyworks Solutions were worth $4,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Pittenger & Anderson Inc. boosted its holdings in shares of Skyworks Solutions by 1,750.0% in the first quarter. Pittenger & Anderson Inc. now owns 185 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 175 shares during the period. IronBridge Private Wealth LLC bought a new position in shares of Skyworks Solutions in the fourth quarter worth $32,000. Financial Management Professionals Inc. boosted its holdings in shares of Skyworks Solutions by 1,845.5% in the first quarter. Financial Management Professionals Inc. now owns 214 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 203 shares during the period. Bank of New Hampshire bought a new position in shares of Skyworks Solutions in the first quarter worth $30,000. Finally, Holloway Wealth Management LLC boosted its holdings in shares of Skyworks Solutions by 119.0% in the first quarter. Holloway Wealth Management LLC now owns 230 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 125 shares during the period. 72.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SWKS shares. B. Riley raised their price target on Skyworks Solutions to $120.00 in a report on Friday. Mizuho dropped their price objective on Skyworks Solutions from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Piper Sandler dropped their price objective on Skyworks Solutions from $190.00 to $145.00 in a research note on Tuesday, May 3rd. KeyCorp dropped their price objective on Skyworks Solutions from $160.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Finally, Susquehanna dropped their price objective on Skyworks Solutions from $160.00 to $135.00 in a research note on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $142.45.

Skyworks Solutions Stock Down 0.8 %

SWKS opened at $112.66 on Friday. The company has a market cap of $18.13 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.07 and a beta of 1.20. The business’s 50-day moving average price is $100.98 and its 200-day moving average price is $117.64. The company has a current ratio of 3.98, a quick ratio of 2.65 and a debt-to-equity ratio of 0.42. Skyworks Solutions, Inc. has a 12 month low of $88.76 and a 12 month high of $186.97.

Skyworks Solutions (NASDAQ:SWKSGet Rating) last released its quarterly earnings data on Thursday, August 4th. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.05 by $0.39. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Skyworks Solutions had a return on equity of 30.60% and a net margin of 25.98%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.96 earnings per share. On average, equities analysts expect that Skyworks Solutions, Inc. will post 9.8 EPS for the current year.

Skyworks Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.20%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.56. Skyworks Solutions’s payout ratio is currently 27.22%.

About Skyworks Solutions

(Get Rating)

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

See Also

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

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