Skyworks Solutions, Inc. (SWKS) Shares Sold by Grisanti Capital Management LLC
Grisanti Capital Management LLC reduced its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,490 shares of the semiconductor manufacturer’s stock after selling 1,145 shares during the period. Skyworks Solutions comprises approximately 2.4% of Grisanti Capital Management LLC’s portfolio, making the stock its 20th largest position. Grisanti Capital Management LLC’s holdings in Skyworks Solutions were worth $5,612,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SWKS. Cim LLC boosted its position in Skyworks Solutions by 3.6% in the first quarter. Cim LLC now owns 6,118 shares of the semiconductor manufacturer’s stock valued at $599,000 after buying an additional 215 shares in the last quarter. Advisory Services Network LLC acquired a new position in Skyworks Solutions during the first quarter valued at $1,340,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Skyworks Solutions by 3.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,878 shares of the semiconductor manufacturer’s stock valued at $2,927,000 after buying an additional 886 shares in the last quarter. Swiss National Bank boosted its position in Skyworks Solutions by 26.3% in the first quarter. Swiss National Bank now owns 658,400 shares of the semiconductor manufacturer’s stock valued at $64,510,000 after buying an additional 137,100 shares in the last quarter. Finally, Cibc World Markets Corp boosted its position in Skyworks Solutions by 47.4% in the first quarter. Cibc World Markets Corp now owns 20,264 shares of the semiconductor manufacturer’s stock valued at $1,985,000 after buying an additional 6,514 shares in the last quarter. 81.19% of the stock is currently owned by institutional investors and hedge funds.
Skyworks Solutions, Inc. (NASDAQ SWKS) opened at 103.18 on Friday. The firm has a 50-day moving average price of $102.58 and a 200-day moving average price of $100.13. The company has a market capitalization of $18.96 billion, a price-to-earnings ratio of 19.80 and a beta of 0.82. Skyworks Solutions, Inc. has a 52 week low of $65.76 and a 52 week high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.05. Skyworks Solutions had a return on equity of 28.67% and a net margin of 27.86%. The firm had revenue of $900.80 million for the quarter, compared to analysts’ expectations of $890.58 million. During the same period in the previous year, the firm posted $1.24 earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. Analysts anticipate that Skyworks Solutions, Inc. will post $6.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 8th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.24%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, August 4th. Skyworks Solutions’s payout ratio is 24.57%.
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SWKS has been the topic of several research analyst reports. ValuEngine cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. BMO Capital Markets reissued a “hold” rating and issued a $100.00 price objective on shares of Skyworks Solutions in a research report on Friday, July 21st. Canaccord Genuity boosted their price objective on Skyworks Solutions from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Pacific Crest reissued an “overweight” rating on shares of Skyworks Solutions in a research report on Monday, April 24th. Finally, Mizuho reissued a “buy” rating on shares of Skyworks Solutions in a research report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $110.57.
In other news, Director Christine King sold 3,500 shares of Skyworks Solutions stock in a transaction dated Monday, June 5th. The stock was 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 of the company’s stock, valued at $1,788,894.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Liam Griffin sold 8,056 shares of Skyworks Solutions stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $105.31, for a total value of $848,377.36. Following the completion of the sale, the insider now directly owns 54,310 shares in the company, valued at $5,719,386.10. The disclosure for this sale can be found here. 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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