Spire Wealth Management lifted its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report) by 218.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,856 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,273 shares during the period. Spire Wealth Management’s holdings in Skyworks Solutions were worth $219,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Skyworks Solutions by 0.5% in the first quarter. Vanguard Group Inc. now owns 18,027,044 shares of the semiconductor manufacturer’s stock valued at $2,402,644,000 after acquiring an additional 94,095 shares during the period. Victory Capital Management Inc. grew its position in Skyworks Solutions by 74.9% in the 4th quarter. Victory Capital Management Inc. now owns 4,160,288 shares of the semiconductor manufacturer’s stock valued at $379,127,000 after purchasing an additional 1,781,488 shares during the period. Geode Capital Management LLC grew its position in Skyworks Solutions by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 3,475,826 shares of the semiconductor manufacturer’s stock valued at $316,205,000 after purchasing an additional 28,271 shares during the period. Lazard Asset Management LLC increased its stake in Skyworks Solutions by 15.0% during the 4th quarter. Lazard Asset Management LLC now owns 3,285,893 shares of the semiconductor manufacturer’s stock valued at $299,442,000 after purchasing an additional 428,364 shares in the last quarter. Finally, Norges Bank acquired a new position in Skyworks Solutions during the fourth quarter worth $152,111,000. 78.70% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Skyworks Solutions news, Director Kevin L. Beebe sold 4,851 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $103.97, for a total transaction of $504,358.47. Following the completion of the sale, the director now directly owns 51,855 shares in the company, valued at $5,391,364.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Liam Griffin sold 13,211 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $104.08, for a total transaction of $1,375,000.88. Following the completion of the sale, the chief executive officer now directly owns 52,540 shares in the company, valued at approximately $5,468,363.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin L. Beebe sold 4,851 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $103.97, for a total transaction of $504,358.47. Following the completion of the transaction, the director now owns 51,855 shares in the company, valued at approximately $5,391,364.35. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on SWKS. Wolfe Research assumed coverage on shares of Skyworks Solutions in a research report on Wednesday, July 19th. They set an “outperform” rating and a $135.00 target price for the company. Morgan Stanley increased their price objective on Skyworks Solutions from $104.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 8th. Stifel Nicolaus cut their target price on Skyworks Solutions from $150.00 to $130.00 in a research report on Tuesday, May 9th. Argus dropped their price objective on Skyworks Solutions from $160.00 to $140.00 in a research note on Wednesday, May 10th. Finally, Susquehanna increased their target price on shares of Skyworks Solutions from $125.00 to $130.00 and gave the company a “positive” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Skyworks Solutions has an average rating of “Moderate Buy” and a consensus price target of $121.27.
Get Our Latest Research Report on Skyworks Solutions
Skyworks Solutions Stock Up 0.8 %
Shares of NASDAQ:SWKS opened at $104.70 on Monday. The firm has a market capitalization of $16.69 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.31 and a current ratio of 3.83. Skyworks Solutions, Inc. has a 52-week low of $76.16 and a 52-week high of $123.69. The firm has a fifty day moving average of $109.65 and a 200 day moving average of $109.61.
Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last announced its quarterly earnings data on Monday, August 7th. The semiconductor manufacturer reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.30. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Skyworks Solutions had a return on equity of 23.89% and a net margin of 20.97%. Skyworks Solutions’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same period last year, the firm posted $2.12 EPS. As a group, research analysts anticipate that Skyworks Solutions, Inc. will post 7.44 EPS for the current fiscal year.
Skyworks Solutions Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.68 per share. The ex-dividend date is Monday, August 28th. This represents a $2.72 annualized dividend and a dividend yield of 2.60%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.62. Skyworks Solutions’s dividend payout ratio (DPR) is currently 38.21%.
Skyworks Solutions Company Profile
(Free Report)
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, clocks and timings, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Skyworks Solutions, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Skyworks Solutions wasn’t on the list.
While Skyworks Solutions currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today’s market? Click the link below and we’ll send you MarketBeat’s list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
