Swiss National Bank increased its stake in Skyworks Solutions Inc (NASDAQ:SWKS) by 2.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 603,500 shares of the semiconductor manufacturer’s stock after purchasing an additional 14,000 shares during the quarter. Swiss National Bank’s holdings in Skyworks Solutions were worth $58,328,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in SWKS. Millennium Management LLC raised its stake in shares of Skyworks Solutions by 58.0% in the first quarter. Millennium Management LLC now owns 790,775 shares of the semiconductor manufacturer’s stock valued at $79,283,000 after acquiring an additional 290,202 shares in the last quarter. Ardevora Asset Management LLP raised its stake in shares of Skyworks Solutions by 394.7% in the second quarter. Ardevora Asset Management LLP now owns 349,732 shares of the semiconductor manufacturer’s stock valued at $33,802,000 after acquiring an additional 279,032 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in shares of Skyworks Solutions by 12.2% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 2,173,301 shares of the semiconductor manufacturer’s stock valued at $217,895,000 after acquiring an additional 236,320 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Skyworks Solutions by 147.5% in the second quarter. American Century Companies Inc. now owns 378,775 shares of the semiconductor manufacturer’s stock valued at $36,609,000 after acquiring an additional 225,746 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Skyworks Solutions by 23.3% in the second quarter. First Trust Advisors LP now owns 1,061,433 shares of the semiconductor manufacturer’s stock valued at $102,587,000 after acquiring an additional 200,918 shares in the last quarter. Institutional investors and hedge funds own 80.80% of the company’s stock.
In other Skyworks Solutions news, Director David J. Aldrich sold 10,000 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $93.03, for a total value of $930,300.00. Following the sale, the director now directly owns 152,252 shares in the company, valued at $14,164,003.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 30,000 shares of company stock worth $2,818,400. 0.47% of the stock is owned by insiders.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Thursday, July 19th. The semiconductor manufacturer reported $1.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.04. Skyworks Solutions had a return on equity of 30.31% and a net margin of 23.78%. The company had revenue of $894.30 million for the quarter, compared to analysts’ expectations of $889.00 million. During the same period last year, the firm earned $1.57 earnings per share. Skyworks Solutions’s quarterly revenue was down .7% on a year-over-year basis. equities research analysts predict that Skyworks Solutions Inc will post 6.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 28th. Shareholders of record on Tuesday, August 7th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Monday, August 6th. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 1.63%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 25.42%.
Several brokerages have recently issued reports on SWKS. BidaskClub cut Skyworks Solutions from a “sell” rating to a “strong sell” rating in a research note on Friday, August 17th. Needham & Company LLC reiterated a “buy” rating and issued a $118.00 price objective on shares of Skyworks Solutions in a research note on Tuesday, August 7th. Morgan Stanley reduced their price objective on Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating on the stock in a research note on Monday, August 6th. Zacks Investment Research upgraded Skyworks Solutions from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Wednesday, July 25th. Finally, ValuEngine cut Skyworks Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the company. Skyworks Solutions currently has an average rating of “Buy” and a consensus target price of $115.26.
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.
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