CIBC Private Wealth Group LLC lessened its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) by 13.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,087 shares of the semiconductor manufacturer’s stock after selling 1,777 shares during the period. CIBC Private Wealth Group LLC’s holdings in Skyworks Solutions were worth $1,247,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of SWKS. CVA Family Office LLC grew its stake in Skyworks Solutions by 257.9% in the 3rd quarter. CVA Family Office LLC now owns 340 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 245 shares during the last quarter. J.Safra Asset Management Corp grew its position in shares of Skyworks Solutions by 1,100.0% in the fourth quarter. J.Safra Asset Management Corp now owns 420 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 385 shares during the last quarter. Godsey & Gibb Inc. bought a new position in shares of Skyworks Solutions in the fourth quarter worth about $45,000. GHP Investment Advisors Inc. increased its stake in shares of Skyworks Solutions by 360.0% in the third quarter. GHP Investment Advisors Inc. now owns 575 shares of the semiconductor manufacturer’s stock worth $49,000 after purchasing an additional 450 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. lifted its position in shares of 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 purchasing an additional 128 shares during the last quarter. Institutional investors own 75.37% of the company’s stock.
Skyworks Solutions Price Performance
Shares of SWKS stock opened at $105.12 on Monday. The company has a current ratio of 2.91, a quick ratio of 1.83 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $16.73 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.95 and a beta of 1.26. The firm’s 50 day moving average is $106.21 and its 200-day moving average is $104.77. Skyworks Solutions, Inc. has a 1 year low of $76.16 and a 1 year high of $123.69.
Skyworks Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, May 30th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $2.48 annualized dividend and a yield of 2.36%. Skyworks Solutions’s dividend payout ratio is currently 35.79%.
Skyworks Solutions announced that its Board of Directors has approved a stock repurchase program on Monday, February 6th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 11.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
SWKS has been the subject of a number of research analyst reports. KeyCorp upped their price target on Skyworks Solutions from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, February 7th. TheStreet upgraded shares of Skyworks Solutions from a “c+” rating to a “b-” rating in a report on Thursday, February 9th. BMO Capital Markets downgraded Skyworks Solutions from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $140.00 to $100.00 in a research report on Tuesday, May 9th. Morgan Stanley raised their price objective on Skyworks Solutions from $96.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 7th. Finally, Mizuho lowered their price objective on Skyworks Solutions from $135.00 to $125.00 in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $118.46.
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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