Commonwealth Equity Services LLC Has $5.47 Million Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Posted by on May 11th, 2023

Commonwealth Equity Services LLC grew its position in Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) by 17.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,992 shares of the semiconductor manufacturer’s stock after buying an additional 8,824 shares during the period. Commonwealth Equity Services LLC’s holdings in Skyworks Solutions were worth $5,467,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Skyworks Solutions by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,676 shares of the semiconductor manufacturer’s stock valued at $1,155,000 after buying an additional 98 shares during the period. Kinneret Advisory LLC lifted its position in Skyworks Solutions by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 4,818 shares of the semiconductor manufacturer’s stock worth $642,000 after buying an additional 108 shares in the last quarter. Albert D Mason Inc. raised its holdings in shares of Skyworks Solutions by 0.8% in the 4th quarter. Albert D Mason Inc. now owns 14,533 shares of the semiconductor manufacturer’s stock valued at $1,324,000 after purchasing an additional 110 shares during the period. Sigma Investment Counselors Inc. raised its holdings in shares of Skyworks Solutions by 0.5% in the 4th quarter. Sigma Investment Counselors Inc. now owns 23,746 shares of the semiconductor manufacturer’s stock valued at $2,164,000 after purchasing an additional 120 shares during the period. Finally, Unison Advisors LLC raised its holdings in shares of Skyworks Solutions by 0.7% in the 4th quarter. Unison Advisors LLC now owns 16,563 shares of the semiconductor manufacturer’s stock valued at $1,509,000 after purchasing an additional 121 shares during the period. Institutional investors and hedge funds own 75.37% of the company’s stock.

Skyworks Solutions Price Performance

SWKS stock opened at $98.56 on Thursday. The business has a 50 day moving average price of $110.39 and a 200 day moving average price of $103.10. The stock has a market cap of $15.69 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.86 and a beta of 1.27. Skyworks Solutions, Inc. has a fifty-two week low of $76.16 and a fifty-two week high of $123.69. 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 data on Monday, May 8th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.01). The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. Skyworks Solutions had a return on equity of 26.74% and a net margin of 21.70%. The company’s revenue was down 13.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.29 EPS. Equities research analysts anticipate that Skyworks Solutions, Inc. will post 8.16 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.52%. Skyworks Solutions’s dividend payout ratio (DPR) is 33.83%.

Skyworks Solutions announced that its Board of Directors has initiated a stock repurchase program on Monday, February 6th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 11.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

SWKS has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of Skyworks Solutions from $110.00 to $105.00 in a research report on Tuesday. Craig Hallum reduced their price target on shares of Skyworks Solutions from $130.00 to $125.00 in a research report on Tuesday. Stifel Nicolaus dropped their price objective on shares of Skyworks Solutions from $150.00 to $130.00 in a research note on Tuesday. Barclays dropped their price objective on shares of Skyworks Solutions from $125.00 to $115.00 in a research note on Tuesday. Finally, Morgan Stanley raised their price target on shares of Skyworks Solutions from $96.00 to $114.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.46.

Insider Transactions at Skyworks Solutions

In other news, SVP Reza Kasnavi sold 3,000 shares of the stock in a transaction dated Friday, February 10th. The stock was 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 in the company, valued at $2,039,789.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Skyworks Solutions Company 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.

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Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

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