Asset Management One Co. Ltd. reduced its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,982 shares of the semiconductor manufacturer’s stock after selling 3,757 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Skyworks Solutions were worth $5,910,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Callahan Advisors LLC boosted its holdings in Skyworks Solutions by 17.1% in the fourth quarter. Callahan Advisors LLC now owns 66,470 shares of the semiconductor manufacturer’s stock worth $6,057,000 after acquiring an additional 9,721 shares in the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in Skyworks Solutions during the 4th quarter valued at about $78,000. D.A. Davidson & CO. increased its stake in Skyworks Solutions by 6.2% during the 4th quarter. D.A. Davidson & CO. now owns 29,145 shares of the semiconductor manufacturer’s stock valued at $2,656,000 after purchasing an additional 1,712 shares in the last quarter. EFG Asset Management North America Corp. increased its stake in Skyworks Solutions by 26.7% during the 4th quarter. EFG Asset Management North America Corp. now owns 16,069 shares of the semiconductor manufacturer’s stock valued at $1,461,000 after purchasing an additional 3,390 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in Skyworks Solutions by 14.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 86,322 shares of the semiconductor manufacturer’s stock worth $7,867,000 after buying an additional 10,891 shares during the last quarter. Hedge funds and other institutional investors own 75.37% of the company’s stock.
Insiders Place Their Bets
In related news, SVP Reza Kasnavi sold 3,000 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 16,994 shares of the company’s stock, valued at $2,039,789.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.
Skyworks Solutions Trading Up 1.9 %
Skyworks Solutions (NASDAQ:SWKS – Get Rating) last posted its earnings results on Monday, February 6th. The semiconductor manufacturer reported $2.59 earnings per share for the quarter, meeting the consensus estimate of $2.59. Skyworks Solutions had a net margin of 22.33% and a return on equity of 28.65%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company posted $2.90 earnings per share. Skyworks Solutions’s quarterly revenue was down 12.0% on a year-over-year basis. On average, equities analysts expect that Skyworks Solutions, Inc. will post 8.16 earnings per share for the current fiscal year.
Skyworks Solutions declared that its Board of Directors has approved a share repurchase program on Monday, February 6th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 11.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Skyworks Solutions Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 21st. Shareholders of record on Tuesday, February 28th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Monday, February 27th. Skyworks Solutions’s dividend payout ratio is presently 33.83%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on SWKS shares. KeyCorp raised their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, February 7th. Wells Fargo & Company boosted their price target on Skyworks Solutions from $90.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 7th. Craig Hallum upped their target price on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, February 7th. StockNews.com initiated coverage on Skyworks Solutions in a report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Cowen boosted their price target on Skyworks Solutions from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Skyworks Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $121.58.
Skyworks Solutions 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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