Zurcher Kantonalbank Zurich Cantonalbank Has $13.50 Million Stake in Skyworks Solutions, Inc. (SWKS)
Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 49.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 140,724 shares of the semiconductor manufacturer’s stock after selling 136,552 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Skyworks Solutions worth $13,502,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Skyworks Solutions by 3,071.2% in the first quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock worth $1,181,019,000 after buying an additional 11,673,555 shares during the period. Winslow Capital Management LLC purchased a new stake in shares of Skyworks Solutions during the first quarter worth about $205,388,000. Boston Partners purchased a new stake in shares of Skyworks Solutions during the first quarter worth about $82,702,000. AQR Capital Management LLC boosted its stake in shares of Skyworks Solutions by 138.9% in the first quarter. AQR Capital Management LLC now owns 1,406,274 shares of the semiconductor manufacturer’s stock worth $137,787,000 after buying an additional 817,721 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Skyworks Solutions by 2.7% in the first quarter. Vanguard Group Inc. now owns 17,823,006 shares of the semiconductor manufacturer’s stock worth $1,746,298,000 after buying an additional 466,480 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.
Skyworks Solutions, Inc. (NASDAQ SWKS) opened at 100.70 on Tuesday. Skyworks Solutions, Inc. has a 1-year low of $65.76 and a 1-year high of $112.11. The stock has a market cap of $18.50 billion, a P/E ratio of 19.33 and a beta of 0.82. The company has a 50-day moving average of $103.85 and a 200 day moving average of $100.95.
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, topping analysts’ consensus estimates 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 analyst estimates of $890.58 million. During the same period last year, the company earned $1.24 EPS. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. Analysts predict that Skyworks Solutions, Inc. will post $6.39 EPS for the current year.
The firm 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 $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.27%. 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. Skyworks Solutions’s dividend payout ratio (DPR) is presently 24.57%.
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SWKS has been the subject of a number of analyst reports. ValuEngine cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Vetr raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating and set a $113.68 price objective for the company in a research note on Monday, June 12th. BMO Capital Markets reissued a “hold” rating and issued a $100.00 price objective on shares of Skyworks Solutions in a research note on Friday, July 21st. Pacific Crest reissued an “overweight” rating and issued a $120.00 price objective on shares of Skyworks Solutions in a research note on Wednesday, June 21st. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $120.00 price objective (up from $105.00) on shares of Skyworks Solutions in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $110.18.
In other news, 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 transaction, the insider now directly owns 54,310 shares of the company’s stock, valued at approximately $5,719,386.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine King sold 3,500 shares of Skyworks Solutions stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $108.84, for a total value of $380,940.00. Following the completion of the transaction, the director now directly owns 16,436 shares in the company, valued at $1,788,894.24. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.
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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