Verition Fund Management LLC grew its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 34.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,802 shares of the semiconductor manufacturer’s stock after buying an additional 4,868 shares during the period. Verition Fund Management LLC’s holdings in Skyworks Solutions were worth $1,785,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC increased its position in shares of Skyworks Solutions by 7.8% during the fourth quarter. LPL Financial LLC now owns 30,916 shares of the semiconductor manufacturer’s stock valued at $2,935,000 after buying an additional 2,224 shares during the period. Crestline Management LP bought a new stake in shares of Skyworks Solutions during the fourth quarter valued at about $992,000. Millennium Management LLC increased its position in shares of Skyworks Solutions by 273.1% during the fourth quarter. Millennium Management LLC now owns 500,573 shares of the semiconductor manufacturer’s stock valued at $47,529,000 after buying an additional 366,424 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Skyworks Solutions by 4.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 41,830 shares of the semiconductor manufacturer’s stock valued at $3,973,000 after buying an additional 1,602 shares during the period. Finally, Flaharty Asset Management LLC bought a new stake in shares of Skyworks Solutions during the fourth quarter valued at about $248,000. Hedge funds and other institutional investors own 83.20% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Standpoint Research upgraded Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. BidaskClub raised Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. Zacks Investment Research raised Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Vetr lowered Skyworks Solutions from a “sell” rating to a “strong sell” rating and set a $91.21 price objective for the company. in a report on Wednesday, February 7th. Finally, ValuEngine raised Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $117.09.
In other news, insider David J. Aldrich sold 35,000 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $113.03, for a total transaction of $3,956,050.00. Following the completion of the sale, the insider now owns 177,252 shares of the company’s stock, valued at $20,034,793.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Peter L. Gammel sold 12,500 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $103.96, for a total value of $1,299,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,383 shares of company stock valued at $9,522,364. Insiders own 0.49% of the company’s stock.
Shares of Skyworks Solutions Inc (NASDAQ SWKS) opened at $111.29 on Friday. The firm has a market capitalization of $20,427.13, a P/E ratio of 25.24, a PEG ratio of 1.11 and a beta of 0.55. Skyworks Solutions Inc has a 52 week low of $93.05 and a 52 week high of $117.65.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Monday, February 5th. The semiconductor manufacturer reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.09. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. Skyworks Solutions had a return on equity of 30.21% and a net margin of 21.72%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 earnings per share. analysts anticipate that Skyworks Solutions Inc will post 6.67 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, February 21st. Skyworks Solutions’s dividend payout ratio (DPR) is presently 29.03%.
Skyworks Solutions announced that its board has authorized a share repurchase plan on Monday, February 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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Skyworks Solutions Company Profile
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
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