TIAA CREF Investment Management LLC lowered its holdings in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837,204 shares of the semiconductor manufacturer’s stock after selling 62,006 shares during the period. TIAA CREF Investment Management LLC owned about 0.46% of Skyworks Solutions worth $79,493,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of SWKS. Union Bankshares Corp bought a new position in shares of Skyworks Solutions during the fourth quarter valued at $1,912,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Skyworks Solutions by 9.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 148,581 shares of the semiconductor manufacturer’s stock valued at $14,108,000 after acquiring an additional 12,828 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Skyworks Solutions by 69.2% during the third quarter. Van ECK Associates Corp now owns 307,568 shares of the semiconductor manufacturer’s stock valued at $31,341,000 after acquiring an additional 125,792 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of Skyworks Solutions by 18.2% during the fourth quarter. Gateway Investment Advisers LLC now owns 170,791 shares of the semiconductor manufacturer’s stock valued at $16,217,000 after acquiring an additional 26,237 shares during the period. Finally, Pinebridge Investments L.P. lifted its holdings in shares of Skyworks Solutions by 88.2% during the third quarter. Pinebridge Investments L.P. now owns 108,618 shares of the semiconductor manufacturer’s stock valued at $11,069,000 after acquiring an additional 50,898 shares during the period. Hedge funds and other institutional investors own 83.17% of the company’s stock.
Shares of Skyworks Solutions stock opened at $110.63 on Monday. The company has a market capitalization of $20,188.07, a PE ratio of 25.09, a P/E/G ratio of 1.10 and a beta of 0.55. Skyworks Solutions Inc has a 12-month low of $93.05 and a 12-month high of $117.65.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Monday, February 5th. The semiconductor manufacturer reported $2.00 EPS for the quarter, topping the Zacks’ consensus estimate 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 company’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the company earned $1.61 earnings per share. equities research analysts expect that Skyworks Solutions Inc will post 6.67 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, February 22nd were given a $0.32 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.16%. Skyworks Solutions’s payout ratio is 29.03%.
Skyworks Solutions announced that its Board of Directors has approved a share buyback program on Monday, February 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of research analysts have issued reports on the company. Zacks Investment Research raised Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Friday, February 9th. B. Riley cut their price objective on Skyworks Solutions from $131.00 to $128.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Drexel Hamilton reissued a “buy” rating and set a $128.00 price objective on shares of Skyworks Solutions in a report on Monday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Skyworks Solutions in a report on Tuesday, February 6th. Finally, UBS raised Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $117.09.
In related news, SVP Carlos S. Bori sold 3,083 shares of Skyworks Solutions stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $98.00, for a total value of $302,134.00. Following the completion of the sale, the senior vice president now directly owns 12,455 shares in the company, valued at $1,220,590. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David J. Aldrich sold 35,000 shares of Skyworks Solutions stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $113.03, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 99,133 shares of company stock valued at $10,717,872. Corporate insiders own 0.49% of the company’s stock.
Skyworks Solutions 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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