Montag & Caldwell LLC Cuts Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)
Montag & Caldwell LLC cut its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 59.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,322 shares of the semiconductor manufacturer’s stock after selling 3,440 shares during the period. Montag & Caldwell LLC’s holdings in Skyworks Solutions were worth $223,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in SWKS. Macquarie Group Ltd. increased its position in Skyworks Solutions by 100.0% in the fourth quarter. Macquarie Group Ltd. now owns 10,400 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 5,200 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Skyworks Solutions by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 56,653 shares of the semiconductor manufacturer’s stock worth $5,550,000 after buying an additional 700 shares during the last quarter. Winslow Evans & Crocker Inc. increased its position in Skyworks Solutions by 5.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the semiconductor manufacturer’s stock worth $103,000 after buying an additional 50 shares during the last quarter. BKD Wealth Advisors LLC bought a new position in Skyworks Solutions during the first quarter worth about $311,000. Finally, Tompkins Financial Corp bought a new position in Skyworks Solutions during the first quarter worth about $107,000. 81.19% of the stock is owned by institutional investors.
Shares of Skyworks Solutions, Inc. (SWKS) opened at 103.18 on Friday. The company has a 50-day moving average of $102.58 and a 200 day moving average of $100.13. The stock has a market cap of $18.96 billion, a PE ratio of 19.80 and a beta of 0.82. Skyworks Solutions, Inc. has a one year low of $65.76 and a one year high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.05. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The business had revenue of $900.80 million for the quarter, compared to analyst estimates of $890.58 million. During the same quarter in the prior year, the business posted $1.24 EPS. Skyworks Solutions’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, analysts predict that Skyworks Solutions, Inc. will post $6.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 8th will be paid a dividend of $0.32 per share. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, August 4th. This represents a $1.28 dividend on an annualized basis and a yield of 1.24%. Skyworks Solutions’s dividend payout ratio is presently 24.57%.
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A number of equities analysts recently issued reports on SWKS shares. Barclays PLC increased their price target on shares of Skyworks Solutions from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 18th. Vetr downgraded shares of Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $112.92 price target for the company. in a research note on Thursday, April 20th. Pacific Crest reissued an “overweight” rating on shares of Skyworks Solutions in a research note on Monday, April 24th. B. Riley reissued a “buy” rating and issued a $120.00 price target on shares of Skyworks Solutions in a research note on Friday, April 28th. Finally, Drexel Hamilton increased their price target on shares of Skyworks Solutions from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $110.57.
In other Skyworks Solutions news, insider Liam Griffin sold 8,056 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $105.31, for a total transaction of $848,377.36. Following the transaction, the insider now owns 54,310 shares in the company, valued at approximately $5,719,386.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine King sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $108.84, for a total transaction of $380,940.00. Following the transaction, the director now owns 16,436 shares in the company, valued at approximately $1,788,894.24. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.
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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