Sumitomo Mitsui Trust Holdings Inc. boosted its position in Skyworks Solutions (NASDAQ:SWKS) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 545,621 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,098 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.30% of Skyworks Solutions worth $54,704,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SWKS. BlackRock Inc. grew its holdings in Skyworks Solutions by 8.9% in the 4th quarter. BlackRock Inc. now owns 13,206,360 shares of the semiconductor manufacturer’s stock valued at $1,253,946,000 after buying an additional 1,076,214 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Skyworks Solutions by 21.6% in the 4th quarter. Lazard Asset Management LLC now owns 5,616,559 shares of the semiconductor manufacturer’s stock valued at $533,291,000 after buying an additional 998,446 shares in the last quarter. Vulcan Value Partners LLC grew its holdings in Skyworks Solutions by 26.1% in the 4th quarter. Vulcan Value Partners LLC now owns 4,230,322 shares of the semiconductor manufacturer’s stock valued at $401,669,000 after buying an additional 876,101 shares in the last quarter. Geode Capital Management LLC grew its holdings in Skyworks Solutions by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,313,298 shares of the semiconductor manufacturer’s stock valued at $219,253,000 after buying an additional 44,823 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its holdings in Skyworks Solutions by 15.9% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,936,981 shares of the semiconductor manufacturer’s stock valued at $183,916,000 after buying an additional 266,106 shares in the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.
In related news, insider David J. Aldrich sold 35,000 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $113.03, for a total transaction of $3,956,050.00. Following the completion of the transaction, the insider now directly owns 177,252 shares in the company, valued at approximately $20,034,793.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter L. Gammel sold 9,000 shares of the firm’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $99.19, for a total value of $892,710.00. Following the transaction, the insider now owns 21,420 shares of the company’s stock, valued at $2,124,649.80. The disclosure for this sale can be found here. Insiders have sold a total of 97,250 shares of company stock valued at $10,523,768 over the last 90 days. 0.47% of the stock is currently owned by company insiders.
Several analysts have issued reports on the company. BidaskClub upgraded Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Wednesday. KeyCorp dropped their target price on Skyworks Solutions from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, May 4th. Craig Hallum restated a “buy” rating and issued a $115.00 target price (down from $125.00) on shares of Skyworks Solutions in a report on Friday, May 4th. Zacks Investment Research cut Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. Finally, Robert W. Baird assumed coverage on Skyworks Solutions in a report on Wednesday, May 2nd. They set an “outperform” rating and a $125.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $114.97.
Shares of Skyworks Solutions stock opened at $96.62 on Wednesday. Skyworks Solutions has a 12 month low of $86.13 and a 12 month high of $117.65. The stock has a market cap of $17.36 billion, a P/E ratio of 16.16, a PEG ratio of 1.14 and a beta of 0.66.
Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, May 3rd. The semiconductor manufacturer reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Skyworks Solutions had a return on equity of 30.35% and a net margin of 22.69%. The company had revenue of $913.40 million during the quarter, compared to analysts’ expectations of $911.02 million. During the same period last year, the business posted $1.45 EPS. Skyworks Solutions’s revenue for the quarter was up 7.2% on a year-over-year basis. equities analysts anticipate that Skyworks Solutions will post 6.64 earnings per share for the current fiscal year.
Skyworks Solutions declared that its Board of Directors has approved a share repurchase plan on Monday, February 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Tuesday, May 22nd will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Monday, May 21st. Skyworks Solutions’s dividend payout ratio (DPR) is 21.40%.
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, 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 shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.