Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Acquired by Royal Bank of Canada

Posted by Defense World Staff on Mar 7th, 2023

Skyworks Solutions logo Royal Bank of Canada lifted its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 190,004 shares of the semiconductor manufacturer’s stock after acquiring an additional 12,274 shares during the period. Royal Bank of Canada owned 0.12% of Skyworks Solutions worth $16,200,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ellevest Inc. grew its stake in Skyworks Solutions by 776.5% during the 3rd quarter. Ellevest Inc. now owns 298 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 264 shares during the last quarter. Oakworth Capital Inc. purchased a new position in Skyworks Solutions during the 3rd quarter worth approximately $36,000. CoreCap Advisors LLC purchased a new position in Skyworks Solutions during the 2nd quarter worth approximately $38,000. GHP Investment Advisors Inc. grew its stake in Skyworks Solutions by 360.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 575 shares of the semiconductor manufacturer’s stock worth $49,000 after buying an additional 450 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its stake in Skyworks Solutions by 51.0% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 379 shares of the semiconductor manufacturer’s stock worth $51,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds own 75.37% of the company’s stock.

Analyst Ratings Changes

SWKS has been the topic of several analyst reports. Needham & Company LLC lifted their target price on Skyworks Solutions from $110.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, February 7th. Citigroup lifted their target price on Skyworks Solutions from $94.50 to $117.00 and gave the company a “neutral” rating in a research note on Wednesday, February 8th. Susquehanna lifted their price target on Skyworks Solutions from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. KGI Securities upgraded Skyworks Solutions from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 30th. Finally, B. Riley lifted their price objective on Skyworks Solutions from $95.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Skyworks Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $119.26.

Skyworks Solutions Trading Down 0.9 %

Shares of NASDAQ SWKS opened at $112.77 on Tuesday. The stock’s 50 day moving average price is $107.25 and its two-hundred day moving average price is $97.90. Skyworks Solutions, Inc. has a 52-week low of $76.16 and a 52-week high of $141.26. The stock has a market capitalization of $17.93 billion, a P/E ratio of 15.38, a PEG ratio of 0.91 and a beta of 1.29. The company has a quick ratio of 1.75, a current ratio of 2.79 and a debt-to-equity ratio of 0.30.

Skyworks Solutions (NASDAQ:SWKS – Get Rating) last announced its quarterly earnings results on Monday, February 6th. The semiconductor manufacturer reported $2.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.59. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Skyworks Solutions had a return on equity of 28.65% and a net margin of 22.33%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.90 EPS. On average, analysts anticipate that Skyworks Solutions, Inc. will post 8.3 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 21st. Stockholders of record on Tuesday, February 28th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Monday, February 27th. Skyworks Solutions’s payout ratio is 33.83%.

Skyworks Solutions declared that its Board of Directors has initiated a share repurchase plan on Monday, February 6th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 11.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Skyworks Solutions

In related news, SVP Karilee A. Durham sold 2,716 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $110.00, for a total value of $298,760.00. Following the completion of the transaction, the senior vice president now directly owns 13,428 shares of the company’s stock, valued at approximately $1,477,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Skyworks Solutions news, SVP Karilee A. Durham sold 2,716 shares of the stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $110.00, for a total transaction of $298,760.00. Following the completion of the transaction, the senior vice president now directly owns 13,428 shares of the company’s stock, valued at approximately $1,477,080. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Robert John Terry sold 3,500 shares of the stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $100.60, for a total value of $352,100.00. Following the transaction, the senior vice president now directly owns 11,187 shares of the company’s stock, valued at $1,125,412.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,216 shares of company stock worth $1,010,950. 0.31% of the stock is currently owned by company insiders.

Skyworks Solutions Profile

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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.