Taylor Hoffman Wealth Management lifted its holdings in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 18.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,964 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,352 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Skyworks Solutions were worth $1,186,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Mechanics Bank Trust Department acquired a new position in Skyworks Solutions in the third quarter worth about $25,000. Squar Milner Financial Services LLC raised its holdings in Skyworks Solutions by 492.6% during the third 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 increased its holdings in shares of Skyworks Solutions by 118.7% in the second quarter. Next Capital Management LLC now owns 339 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 184 shares in the last quarter. Cribstone Capital Management LLC bought a new position in shares of Skyworks Solutions in the second quarter valued at $37,000. Finally, Stonebridge Capital Advisors LLC bought a new position in shares of Skyworks Solutions in the second quarter valued at $37,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on SWKS shares. Zacks Investment Research cut shares of Skyworks Solutions from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a report on Wednesday, August 7th. Barclays cut shares of Skyworks Solutions from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $75.00 to $80.00 in a research note on Thursday, July 18th. Benchmark began 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. Craig Hallum upped their price objective on shares of Skyworks Solutions from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Cowen raised shares of Skyworks Solutions from a “market perform” rating to an “outperform” rating and increased their price target for the company from $80.00 to $95.00 in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Skyworks Solutions has an average rating of “Hold” and an average price target of $88.55.
Shares of SWKS traded up $1.80 during midday trading on Friday, reaching $100.44. The stock had a trading volume of 1,735,500 shares, compared to its average volume of 1,958,875. The firm has a market cap of $16.95 billion, a PE ratio of 15.15, a P/E/G ratio of 2.07 and a beta of 1.06. The firm has a 50 day simple moving average of $86.29 and a 200-day simple moving average of $80.15. Skyworks Solutions Inc has a one year low of $60.12 and a one year high of $100.81.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.14. The company had revenue of $767.00 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. As a group, analysts anticipate that Skyworks Solutions Inc will post 5.72 earnings per share for the current fiscal year.
In related news, CEO Liam Griffin sold 5,000 shares of Skyworks Solutions stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $90.59, for a total transaction of $452,950.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David J. Aldrich sold 999 shares of Skyworks Solutions stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $76.45, for a total transaction of $76,373.55. Following the sale, the director now directly owns 204,031 shares in the company, valued at $15,598,169.95. The disclosure for this sale can be found here. Insiders have sold a total of 15,002 shares of company stock worth $1,282,604 over the last ninety days. 0.64% of the stock is currently owned by insiders.
About Skyworks Solutions
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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