Raymond James Trust N.A. decreased its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) by 6.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,283 shares of the semiconductor manufacturer’s stock after selling 161 shares during the quarter. Raymond James Trust N.A.’s holdings in Skyworks Solutions were worth $208,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of Skyworks Solutions by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,881,957 shares of the semiconductor manufacturer’s stock valued at $160,476,000 after buying an additional 52,897 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Skyworks Solutions in the 3rd quarter valued at $1,611,000. Allspring Global Investments Holdings LLC increased its holdings in Skyworks Solutions by 1,570.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 162,067 shares of the semiconductor manufacturer’s stock valued at $13,819,000 after acquiring an additional 152,366 shares during the last quarter. Stephens Inc. AR increased its holdings in Skyworks Solutions by 13.5% in the 4th quarter. Stephens Inc. AR now owns 2,995 shares of the semiconductor manufacturer’s stock valued at $273,000 after acquiring an additional 357 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Skyworks Solutions by 0.6% in the 3rd quarter. Fifth Third Bancorp now owns 22,002 shares of the semiconductor manufacturer’s stock valued at $1,876,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 75.37% of the company’s stock.
Skyworks Solutions Price Performance
Skyworks Solutions stock opened at $102.80 on Thursday. The stock has a market cap of $16.36 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.83 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.79 and a quick ratio of 1.75. Skyworks Solutions, Inc. has a 1 year low of $76.16 and a 1 year high of $123.69. The firm has a 50-day moving average of $112.36 and a two-hundred day moving average of $101.59.
Skyworks Solutions Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 21st. Stockholders of record on Tuesday, February 28th were given a $0.62 dividend. The ex-dividend date was Monday, February 27th. This represents a $2.48 annualized dividend and a dividend yield of 2.41%. Skyworks Solutions’s payout ratio is presently 33.83%.
Skyworks Solutions declared that its board has approved a stock repurchase program on Monday, February 6th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 11.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Analyst Ratings Changes
SWKS has been the topic of a number of research reports. Stifel Nicolaus initiated coverage on shares of Skyworks Solutions in a report on Wednesday, April 5th. They issued a “buy” rating and a $150.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Skyworks Solutions from $95.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, February 7th. Susquehanna upgraded shares of Skyworks Solutions from a “neutral” rating to a “positive” rating and lifted their price target for the company from $110.00 to $135.00 in a report on Thursday, March 16th. Barclays upgraded shares of Skyworks Solutions from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $95.00 to $125.00 in a report on Monday, January 23rd. Finally, Benchmark boosted their target price on shares of Skyworks Solutions from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $121.58.
Insider Transactions at Skyworks Solutions
In other news, SVP Reza Kasnavi sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $120.03, for a total value of $360,090.00. Following the completion of the sale, the senior vice president now owns 16,994 shares of the company’s stock, valued at approximately $2,039,789.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.
About Skyworks Solutions
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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