UBS Oconnor LLC lessened its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 50.0% during the fourth quarter, HoldingsChannel reports. The firm owned 115,000 shares of the semiconductor manufacturer’s stock after selling 115,000 shares during the period. UBS Oconnor LLC’s holdings in Skyworks Solutions were worth $7,707,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors bought a new position in Skyworks Solutions in the 3rd quarter valued at about $326,736,000. Oregon Public Employees Retirement Fund lifted its position in Skyworks Solutions by 6,143.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,733,478 shares of the semiconductor manufacturer’s stock valued at $41,000 after acquiring an additional 2,689,698 shares in the last quarter. Congress Asset Management Co. MA lifted its position in Skyworks Solutions by 1,249.8% in the 4th quarter. Congress Asset Management Co. MA now owns 978,386 shares of the semiconductor manufacturer’s stock valued at $65,571,000 after acquiring an additional 905,902 shares in the last quarter. DNB Asset Management AS lifted its position in Skyworks Solutions by 2,998.1% in the 4th quarter. DNB Asset Management AS now owns 781,216 shares of the semiconductor manufacturer’s stock valued at $52,357,000 after acquiring an additional 756,000 shares in the last quarter. Finally, LSV Asset Management lifted its position in Skyworks Solutions by 30.1% in the 4th quarter. LSV Asset Management now owns 2,410,600 shares of the semiconductor manufacturer’s stock valued at $161,558,000 after acquiring an additional 558,200 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.
NASDAQ:SWKS traded down $2.40 on Friday, hitting $83.67. The stock had a trading volume of 39,086 shares, compared to its average volume of 1,695,388. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.24 and a beta of 0.69. Skyworks Solutions Inc has a 1 year low of $60.12 and a 1 year high of $108.57.
Skyworks Solutions declared that its board has authorized a share repurchase plan on Tuesday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, February 26th were paid a dividend of $0.38 per share. The ex-dividend date was Monday, February 25th. This represents a $1.52 annualized dividend and a dividend yield of 1.82%. Skyworks Solutions’s payout ratio is currently 22.93%.
In other news, Director David J. Aldrich sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $81.05, for a total transaction of $243,150.00. Following the completion of the sale, the director now owns 203,922 shares in the company, valued at approximately $16,527,878.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Peter L. Gammel sold 2,652 shares of the firm’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $68.45, for a total transaction of $181,529.40. Following the sale, the chief technology officer now owns 15,123 shares of the company’s stock, valued at approximately $1,035,169.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,918 shares of company stock valued at $780,053. 0.47% of the stock is currently owned by company insiders.
Several equities analysts recently weighed in on SWKS shares. Zacks Investment Research raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. TheStreet cut shares of Skyworks Solutions from a “b-” rating to a “c+” rating in a research report on Friday, November 30th. B. Riley raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and raised their price target for the company from $80.00 to $90.00 in a research report on Monday, January 28th. Loop Capital dropped their price target on shares of Skyworks Solutions to $92.00 and set a “buy” rating on the stock in a research report on Thursday, January 10th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $84.00 price target (down previously from $96.00) on shares of Skyworks Solutions in a research report on Wednesday, January 9th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $93.00.
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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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