DNB Asset Management AS lessened its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 63.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 282,856 shares of the semiconductor manufacturer’s stock after selling 498,360 shares during the quarter. DNB Asset Management AS owned about 0.16% of Skyworks Solutions worth $23,330,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of SWKS. Lindbrook Capital LLC purchased a new position in Skyworks Solutions during the 4th quarter valued at about $25,000. JOYN Advisors Inc. grew its holdings in Skyworks Solutions by 178.8% during the 4th quarter. JOYN Advisors Inc. now owns 368 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 236 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in Skyworks Solutions by 98.5% during the 4th quarter. AdvisorNet Financial Inc now owns 405 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 201 shares in the last quarter. Doyle Wealth Management purchased a new position in Skyworks Solutions during the 4th quarter valued at about $30,000. Finally, First Hawaiian Bank grew its holdings in shares of Skyworks Solutions by 251.9% during the fourth quarter. First Hawaiian Bank now owns 475 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 340 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on SWKS shares. B. Riley raised Skyworks Solutions from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $90.00 in a report on Monday, January 28th. CIBC reissued a “market perform” rating on shares of Skyworks Solutions in a report on Monday, January 7th. Goldman Sachs Group raised Skyworks Solutions from a “neutral” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Wednesday, February 6th. Canaccord Genuity reissued a “buy” rating and set a $84.00 price objective (down previously from $96.00) on shares of Skyworks Solutions in a report on Wednesday, January 9th. Finally, Craig Hallum reissued a “buy” rating and set a $90.00 price objective (down previously from $105.00) on shares of Skyworks Solutions in a report on Wednesday, January 9th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $93.00.
SWKS opened at $88.05 on Thursday. The company has a market cap of $15.23 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 1.32 and a beta of 0.68. Skyworks Solutions Inc has a 52-week low of $60.12 and a 52-week high of $104.20.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.12. The company had revenue of $972.00 million for the quarter, compared to analysts’ expectations of $974.70 million. Skyworks Solutions had a return on equity of 29.30% and a net margin of 29.91%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 earnings per share. As a group, sell-side analysts anticipate that Skyworks Solutions Inc will post 6.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, February 26th were paid a $0.38 dividend. The ex-dividend date of this dividend was Monday, February 25th. This represents a $1.52 annualized dividend and a yield of 1.73%. Skyworks Solutions’s payout ratio is 22.93%.
Skyworks Solutions announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 15.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Skyworks Solutions Company Profile
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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