Texas Permanent School Fund trimmed its stake in Skyworks Solutions Inc (NASDAQ:SWKS) by 5.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,863 shares of the semiconductor manufacturer’s stock after selling 1,845 shares during the quarter. Texas Permanent School Fund’s holdings in Skyworks Solutions were worth $2,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of SWKS. Oregon Public Employees Retirement Fund lifted its position in shares of Skyworks Solutions by 6,143.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,733,478 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 2,689,698 shares in the last quarter. Norges Bank bought a new position in Skyworks Solutions during the fourth quarter valued at approximately $121,517,000. Congress Asset Management Co. MA raised its position in Skyworks Solutions by 1,249.8% during the fourth 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. FMR LLC raised its position in Skyworks Solutions by 49.6% during the fourth quarter. FMR LLC now owns 2,146,909 shares of the semiconductor manufacturer’s stock valued at $143,886,000 after acquiring an additional 712,274 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Skyworks Solutions by 46.9% during the fourth quarter. Deutsche Bank AG now owns 1,875,809 shares of the semiconductor manufacturer’s stock valued at $125,710,000 after acquiring an additional 598,980 shares in the last quarter. 82.63% of the stock is owned by institutional investors and hedge funds.
In other news, Director David J. Aldrich sold 5,000 shares of the firm’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $81.43, for a total value of $407,150.00. Following the sale, the director now owns 205,922 shares in the company, valued at $16,768,228.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Peter L. Gammel sold 1,881 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $93.53, for a total transaction of $175,929.93. Following the completion of the sale, the chief technology officer now owns 9,240 shares in the company, valued at approximately $864,217.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,065 shares of company stock worth $9,807,474. 0.64% of the stock is currently owned by corporate insiders.
Shares of Skyworks Solutions stock traded down $3.75 during midday trading on Thursday, hitting $75.00. The company had a trading volume of 124,336 shares, compared to its average volume of 1,988,231. The company has a market cap of $13.23 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.10 and a beta of 0.70. Skyworks Solutions Inc has a 1-year low of $60.12 and a 1-year high of $104.20.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.04. The business had revenue of $810.40 million for the quarter, compared to the consensus estimate of $809.52 million. Skyworks Solutions had a net margin of 29.06% and a return on equity of 28.25%. Skyworks Solutions’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the company posted $1.64 earnings per share. On average, analysts anticipate that Skyworks Solutions Inc will post 6.11 earnings per share for the current year.
Skyworks Solutions announced that its board has authorized a share buyback program on Tuesday, February 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 15.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.52 annualized dividend and a dividend yield of 2.03%. Skyworks Solutions’s payout ratio is 22.93%.
SWKS has been the topic of several recent research reports. TheStreet raised shares of Skyworks Solutions from a “c+” rating to a “b-” rating in a research report on Wednesday, February 27th. Cowen reissued a “market perform” rating and issued a $95.00 price target (up previously from $80.00) on shares of Skyworks Solutions in a research report on Friday, May 3rd. Zacks Investment Research lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Monday, March 25th. BidaskClub raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Finally, ValuEngine raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $91.55.
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Skyworks Solutions 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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