DNB Asset Management AS lifted its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report) by 1,907.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 835,475 shares of the semiconductor manufacturer’s stock after purchasing an additional 793,861 shares during the quarter. DNB Asset Management AS owned approximately 0.52% of Skyworks Solutions worth $92,479,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. SOA Wealth Advisors LLC. raised its stake in shares of Skyworks Solutions by 58.5% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 3,044 shares of the semiconductor manufacturer’s stock valued at $337,000 after acquiring an additional 1,123 shares in the last quarter. Radnor Capital Management LLC bought a new position in shares of Skyworks Solutions in the second quarter valued at approximately $335,000. Nordea Investment Management AB lifted its stake in shares of Skyworks Solutions by 16.4% in the second quarter. Nordea Investment Management AB now owns 667,208 shares of the semiconductor manufacturer’s stock worth $74,003,000 after buying an additional 93,896 shares during the last quarter. Symmetry Partners LLC bought a new stake in shares of Skyworks Solutions during the 2nd quarter worth $534,000. Finally, Level Four Advisory Services LLC acquired a new position in Skyworks Solutions in the 1st quarter valued at $418,000. Institutional investors own 81.39% of the company’s stock.
Analysts Set New Price Targets
SWKS has been the subject of a number of recent analyst reports. KeyCorp restated an “overweight” rating and set a $130.00 price target on shares of Skyworks Solutions in a report on Thursday, September 14th. B. Riley lifted their price target on Skyworks Solutions from $93.00 to $102.00 in a research report on Tuesday, August 8th. Piper Sandler upped their price target on Skyworks Solutions from $107.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Susquehanna boosted their price objective on shares of Skyworks Solutions from $125.00 to $130.00 and gave the stock a “positive” rating in a report on Tuesday, August 8th. Finally, Mizuho decreased their target price on Skyworks Solutions from $125.00 to $122.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $120.88.
Insider Activity at Skyworks Solutions
In other news, CEO Liam Griffin sold 13,211 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $104.08, for a total transaction of $1,375,000.88. Following the completion of the sale, the chief executive officer now owns 52,540 shares of the company’s stock, valued at $5,468,363.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kevin L. Beebe sold 4,851 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $103.97, for a total transaction of $504,358.47. Following the completion of the transaction, the director now directly owns 51,855 shares of the company’s stock, valued at $5,391,364.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Liam Griffin sold 13,211 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $104.08, for a total value of $1,375,000.88. Following the transaction, the chief executive officer now owns 52,540 shares of the company’s stock, valued at $5,468,363.20. The disclosure for this sale can be found here. In the last three months, insiders sold 58,962 shares of company stock worth $6,225,401. 0.31% of the stock is owned by company insiders.
Skyworks Solutions Stock Down 1.5 %
Skyworks Solutions stock opened at $96.33 on Thursday. The company’s 50 day simple moving average is $107.18 and its 200 day simple moving average is $107.66. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.83 and a quick ratio of 2.31. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.88 and a beta of 1.28. Skyworks Solutions, Inc. has a fifty-two week low of $76.16 and a fifty-two week high of $123.69.
Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last released its quarterly earnings data on Monday, August 7th. The semiconductor manufacturer reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.30. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Skyworks Solutions had a net margin of 20.97% and a return on equity of 23.89%. The firm’s quarterly revenue was down 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS. As a group, sell-side analysts anticipate that Skyworks Solutions, Inc. will post 7.45 EPS for the current year.
Skyworks Solutions Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 29th were given a dividend of $0.68 per share. The ex-dividend date was Monday, August 28th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.82%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.62. Skyworks Solutions’s dividend payout ratio (DPR) is currently 41.91%.
Skyworks Solutions Company Profile
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, clocks and timings, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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