Successful Portfolios LLC Acquires New Position in Skyworks Solutions Inc (NASDAQ:SWKS)

Successful Portfolios LLC acquired a new stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,913 shares of the semiconductor manufacturer’s stock, valued at approximately $245,000.

Other hedge funds have also recently made changes to their positions in the company. Certified Advisory Corp grew its position in Skyworks Solutions by 541.3% during the 1st quarter. Certified Advisory Corp now owns 295 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 249 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Skyworks Solutions during the 1st quarter valued at about $27,000. Royal Fund Management LLC purchased a new stake in Skyworks Solutions during the 1st quarter valued at about $33,000. Rockefeller Capital Management L.P. grew its position in Skyworks Solutions by 31.0% during the 1st quarter. Rockefeller Capital Management L.P. now owns 397 shares of the semiconductor manufacturer’s stock valued at $35,000 after purchasing an additional 94 shares during the last quarter. Finally, RMR Wealth Builders purchased a new stake in Skyworks Solutions during the 4th quarter valued at about $39,000. 79.00% of the stock is currently owned by institutional investors.

NASDAQ SWKS opened at $129.47 on Tuesday. Skyworks Solutions Inc has a 12 month low of $67.90 and a 12 month high of $138.22. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 2.21 and a beta of 1.25. The company’s 50 day moving average is $127.33 and its two-hundred day moving average is $110.78. The company has a current ratio of 6.13, a quick ratio of 4.34 and a debt-to-equity ratio of 0.04.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Monday, May 4th. The semiconductor manufacturer reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Skyworks Solutions had a net margin of 24.35% and a return on equity of 21.89%. The company had revenue of $766.10 million for the quarter, compared to analysts’ expectations of $765.10 million. During the same quarter last year, the business earned $1.47 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. Sell-side analysts forecast that Skyworks Solutions Inc will post 4.73 EPS for the current year.

In other Skyworks Solutions news, CEO Liam Griffin sold 12,500 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $126.36, for a total transaction of $1,579,500.00. Following the completion of the sale, the chief executive officer now directly owns 64,244 shares of the company’s stock, valued at approximately $8,117,871.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director P Mcglade David sold 21,800 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $134.14, for a total transaction of $2,924,252.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,300 shares of company stock worth $5,305,752. 0.40% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on SWKS. Goldman Sachs Group raised their price target on shares of Skyworks Solutions from $107.00 to $136.00 and gave the company a “buy” rating in a report on Monday, July 6th. Cowen raised their price target on shares of Skyworks Solutions from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, June 26th. B. Riley raised their price target on shares of Skyworks Solutions from $125.00 to $165.00 in a report on Monday, June 8th. Wells Fargo & Co dropped their price target on shares of Skyworks Solutions from $142.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Finally, Citigroup raised their price target on shares of Skyworks Solutions from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $123.67.

Skyworks Solutions 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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Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

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