OLD Mission Capital LLC bought a new position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,586 shares of the semiconductor manufacturer’s stock, valued at approximately $391,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SWKS. Vanguard Group Inc. lifted its position in shares of Skyworks Solutions by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 18,027,044 shares of the semiconductor manufacturer’s stock valued at $2,402,644,000 after acquiring an additional 94,095 shares during the last quarter. Lazard Asset Management LLC increased its stake in Skyworks Solutions by 6.7% in the 2nd quarter. Lazard Asset Management LLC now owns 3,074,202 shares of the semiconductor manufacturer’s stock worth $284,793,000 after purchasing an additional 193,274 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Skyworks Solutions by 245.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,378,800 shares of the semiconductor manufacturer’s stock worth $202,841,000 after buying an additional 1,689,850 shares during the period. London Co. of Virginia lifted its stake in Skyworks Solutions by 57.7% during the second quarter. London Co. of Virginia now owns 1,788,067 shares of the semiconductor manufacturer’s stock valued at $165,647,000 after buying an additional 654,164 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Skyworks Solutions by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,528,580 shares of the semiconductor manufacturer’s stock worth $130,401,000 after buying an additional 47,080 shares during the period. 75.37% of the stock is currently owned by institutional investors.
Insider Activity
In related news, SVP Robert John Terry sold 3,500 shares of the business’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $100.60, for a total transaction of $352,100.00. Following the transaction, the senior vice president now owns 11,187 shares of the company’s stock, valued at $1,125,412.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Robert John Terry sold 3,500 shares of Skyworks Solutions stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $100.60, for a total transaction of $352,100.00. Following the sale, the senior vice president now directly owns 11,187 shares of the company’s stock, valued at $1,125,412.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Karilee A. Durham sold 2,716 shares of the business’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $110.00, for a total value of $298,760.00. Following the transaction, the senior vice president now owns 13,428 shares in the company, valued at $1,477,080. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,216 shares of company stock valued at $1,010,950. 0.31% of the stock is owned by company insiders.
Skyworks Solutions Stock Performance
Skyworks Solutions (NASDAQ:SWKS – Get Rating) last issued its quarterly earnings results on Monday, February 6th. The semiconductor manufacturer reported $2.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.59. Skyworks Solutions had a return on equity of 28.65% and a net margin of 22.33%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business posted $2.90 earnings per share. The firm’s revenue was down 12.0% compared to the same quarter last year. As a group, analysts expect that Skyworks Solutions, Inc. will post 8.33 earnings per share for the current year.
Skyworks Solutions announced that its board has authorized a share buyback program on Monday, February 6th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 11.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Skyworks Solutions Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 21st. Stockholders of record on Tuesday, February 28th will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, February 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.21%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 33.83%.
Analyst Ratings Changes
Several equities research analysts recently commented on SWKS shares. Barclays upgraded shares of Skyworks Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $95.00 to $125.00 in a research report on Monday, January 23rd. Craig Hallum upped their price target on Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, February 7th. KGI Securities upgraded Skyworks Solutions from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 30th. Piper Sandler upped their target price on Skyworks Solutions from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, February 7th. Finally, Mizuho reissued a “buy” rating and issued a $135.00 price target on shares of Skyworks Solutions in a research report on Tuesday, February 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.26.
Skyworks Solutions Company Profile
Skyworks Solutions, Inc engages in the design, development, and manufacture of proprietary semiconductor products. Its products include amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, receivers, switches, and technical ceramics.
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