US Bancorp DE lowered its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 7.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 86,023 shares of the semiconductor manufacturer’s stock after selling 7,226 shares during the quarter. US Bancorp DE’s holdings in Skyworks Solutions were worth $8,169,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SWKS. Financial Engines Advisors L.L.C. purchased a new position in shares of Skyworks Solutions in the 3rd quarter valued at about $126,000. WFG Advisors LP increased its holdings in shares of Skyworks Solutions by 14.8% in the 2nd quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock valued at $127,000 after acquiring an additional 171 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Skyworks Solutions in the 2nd quarter valued at about $202,000. Round Table Services LLC purchased a new position in shares of Skyworks Solutions in the 3rd quarter valued at about $204,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Skyworks Solutions in the 3rd quarter valued at about $204,000. Institutional investors and hedge funds own 81.77% of the company’s stock.
Shares of Skyworks Solutions, Inc. (NASDAQ SWKS) opened at $99.04 on Friday. Skyworks Solutions, Inc. has a 1 year low of $90.53 and a 1 year high of $117.65. The firm has a market capitalization of $18,494.63, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.01 and a beta of 0.69.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 22nd will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.29%. Skyworks Solutions’s payout ratio is 29.03%.
Skyworks Solutions announced that its board has approved a stock repurchase plan on Monday, February 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms have recently commented on SWKS. B. Riley reiterated a “buy” rating and issued a $131.00 price objective on shares of Skyworks Solutions in a report on Tuesday, November 7th. Canaccord Genuity reiterated a “buy” rating and issued a $125.00 price objective (up previously from $117.00) on shares of Skyworks Solutions in a report on Tuesday, November 7th. KeyCorp increased their price objective on Skyworks Solutions from $120.00 to $125.00 and gave the company an “in-line” rating in a report on Tuesday, November 7th. Needham & Company LLC increased their price objective on Skyworks Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $128.00 target price (up from $120.00) on shares of Skyworks Solutions in a research report on Tuesday, November 7th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-four have issued a buy rating to the stock. Skyworks Solutions has a consensus rating of “Buy” and a consensus price target of $115.93.
In other Skyworks Solutions news, Chairman David J. Aldrich sold 45,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $110.08, for a total transaction of $4,953,600.00. Following the completion of the sale, the chairman now directly owns 184,842 shares of the company’s stock, valued at approximately $20,347,407.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Laura A. Gasparini sold 12,132 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $110.53, for a total value of $1,340,949.96. The disclosure for this sale can be found here. Insiders have sold a total of 157,523 shares of company stock valued at $16,684,175 over the last ninety days. 0.49% of the stock is owned by insiders.
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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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