First Trust Advisors LP boosted its position in Skyworks Solutions Inc (NASDAQ:SWKS) by 0.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,828,511 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,563 shares during the period. First Trust Advisors LP owned about 1.06% of Skyworks Solutions worth $144,909,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Mechanics Bank Trust Department bought a new position in shares of Skyworks Solutions during the 3rd quarter valued at approximately $25,000. Squar Milner Financial Services LLC lifted its stake in Skyworks Solutions by 492.6% in the 3rd quarter. Squar Milner Financial Services LLC now owns 320 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 266 shares in the last quarter. Next Capital Management LLC lifted its stake in Skyworks Solutions by 118.7% in the 2nd quarter. Next Capital Management LLC now owns 339 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 184 shares in the last quarter. Cribstone Capital Management LLC purchased a new stake in Skyworks Solutions in the 2nd quarter worth approximately $37,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in Skyworks Solutions in the 2nd quarter worth approximately $37,000. 81.81% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Liam Griffin sold 5,000 shares of Skyworks Solutions stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $90.59, for a total transaction of $452,950.00. Following the completion of the transaction, the chief executive officer now directly owns 70,320 shares of the company’s stock, valued at approximately $6,370,288.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David J. Aldrich sold 999 shares of Skyworks Solutions stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $76.45, for a total transaction of $76,373.55. Following the transaction, the director now directly owns 204,031 shares of the company’s stock, valued at $15,598,169.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,002 shares of company stock worth $1,282,604. 0.64% of the stock is owned by corporate insiders.
Several analysts have issued reports on SWKS shares. BidaskClub upgraded shares of Skyworks Solutions from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Zacks Investment Research cut shares of Skyworks Solutions from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research note on Wednesday, August 7th. Cascend Securities increased their target price on shares of Skyworks Solutions from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday. ValuEngine upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Benchmark started coverage on shares of Skyworks Solutions in a research note on Friday, September 20th. They issued a “buy” rating and a $94.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.31.
Shares of Skyworks Solutions stock traded up $1.80 on Friday, hitting $100.44. 1,735,178 shares of the company traded hands, compared to its average volume of 1,958,873. The firm’s 50-day simple moving average is $85.88 and its 200 day simple moving average is $80.09. The company has a market cap of $16.95 billion, a P/E ratio of 15.15, a P/E/G ratio of 2.07 and a beta of 1.06. Skyworks Solutions Inc has a 12-month low of $60.12 and a 12-month high of $100.81.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.14. The company had revenue of $767.00 million for the quarter, compared to analysts’ expectations of $767.71 million. Skyworks Solutions had a net margin of 26.10% and a return on equity of 26.60%. The firm’s revenue was down 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. Research analysts forecast that Skyworks Solutions Inc will post 5.72 EPS for the current year.
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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