Redwood Investments LLC Buys Shares of 15,909 Skyworks Solutions, Inc. (SWKS)
Redwood Investments LLC bought a new position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) during the first quarter, Holdings Channel reports. The institutional investor bought 15,909 shares of the semiconductor manufacturer’s stock, valued at approximately $1,559,000.
Several other institutional investors have also modified their holdings of the stock. Winslow Evans & Crocker Inc. increased its position in shares of 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 in the last quarter. Tompkins Financial Corp acquired a new position in shares of Skyworks Solutions during the first quarter worth approximately $107,000. WFG Advisors LP increased its position in shares of Skyworks Solutions by 18.6% in the first quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock worth $113,000 after buying an additional 181 shares in the last quarter. TrimTabs Asset Management LLC increased its position in shares of Skyworks Solutions by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $138,000 after buying an additional 664 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Skyworks Solutions during the first quarter worth approximately $196,000. 81.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Skyworks Solutions, Inc. (NASDAQ SWKS) traded down 0.37% during trading on Friday, hitting $101.90. 1,923,244 shares of the stock traded hands. The company has a market cap of $18.80 billion, a PE ratio of 21.01 and a beta of 0.77. The company has a 50 day moving average of $104.19 and a 200-day moving average of $93.30. Skyworks Solutions, Inc. has a 1-year low of $57.11 and a 1-year high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Thursday, April 27th. The semiconductor manufacturer reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.03. Skyworks Solutions had a net margin of 27.27% and a return on equity of 28.00%. The company had revenue of $851.70 million for the quarter, compared to the consensus estimate of $840.43 million. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts anticipate that Skyworks Solutions, Inc. will post $6.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, May 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.10%. Skyworks Solutions’s payout ratio is presently 23.05%.
SWKS has been the topic of a number of research reports. Barclays PLC raised their target price on shares of Skyworks Solutions to $144.00 in a research note on Monday, March 13th. MKM Partners reissued a “buy” rating and issued a $109.00 target price on shares of Skyworks Solutions in a research note on Wednesday, February 22nd. Canaccord Genuity raised their target price on shares of Skyworks Solutions from $96.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, March 6th. Charter Equity reissued a “buy” rating on shares of Skyworks Solutions in a research note on Monday, March 20th. Finally, Craig Hallum raised their target price on shares of Skyworks Solutions from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, April 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $101.33.
In related news, Director Christine King sold 3,500 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $108.84, for a total value of $380,940.00. Following the sale, the director now directly owns 16,436 shares in the company, valued at approximately $1,788,894.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Liam Griffin sold 18,250 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $101.88, for a total transaction of $1,859,310.00. Following the completion of the sale, the insider now owns 64,466 shares in the company, valued at $6,567,796.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,958 shares of company stock worth $9,658,971. Corporate insiders own 0.49% of the company’s stock.
About Skyworks Solutions
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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