Modus Advisors LLC Makes New Investment in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Modus Advisors LLC purchased a new position in Skyworks Solutions, Inc. (NASDAQ:SWKS) in the first quarter, HoldingsChannel reports. The institutional investor purchased 2,294 shares of the semiconductor manufacturer’s stock, valued at approximately $421,000.

Other hedge funds also recently added to or reduced their stakes in the company. Cordasco Financial Network purchased a new position in Skyworks Solutions in the 4th quarter worth approximately $25,000. Hudock Inc. grew its stake in Skyworks Solutions by 344.4% in the 4th quarter. Hudock Inc. now owns 240 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 186 shares in the last quarter. Birchcreek Wealth Management LLC purchased a new position in Skyworks Solutions in the 4th quarter worth approximately $38,000. Mcmillion Capital Management Inc. purchased a new position in Skyworks Solutions in the 4th quarter worth approximately $40,000. Finally, Tompkins Financial Corp purchased a new stake in shares of Skyworks Solutions in the 4th quarter valued at $41,000. 76.32% of the stock is owned by institutional investors and hedge funds.

NASDAQ SWKS traded up $0.55 during trading on Thursday, hitting $187.78. The company had a trading volume of 12,160 shares, compared to its average volume of 2,424,673. Skyworks Solutions, Inc. has a one year low of $88.08 and a one year high of $195.82. The company has a market cap of $31.00 billion, a price-to-earnings ratio of 39.09, a price-to-earnings-growth ratio of 1.86 and a beta of 1.21. The company’s fifty day moving average is $180.03 and its 200-day moving average is $159.27.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Thursday, January 28th. The semiconductor manufacturer reported $3.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.09 by $1.27. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.06 billion. Skyworks Solutions had a net margin of 24.28% and a return on equity of 21.36%. Skyworks Solutions’s quarterly revenue was up 68.5% compared to the same quarter last year. During the same period last year, the business earned $1.68 EPS. As a group, equities research analysts expect that Skyworks Solutions, Inc. will post 6.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 9th. Investors of record on Tuesday, February 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, February 12th. This represents a $2.00 annualized dividend and a dividend yield of 1.07%. Skyworks Solutions’s payout ratio is 38.39%.

Skyworks Solutions declared that its Board of Directors has initiated a stock buyback program on Thursday, January 28th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

A number of equities research analysts have recently issued reports on SWKS shares. KeyCorp upped their price objective on shares of Skyworks Solutions from $180.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, January 29th. Cowen upped their price objective on shares of Skyworks Solutions from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, January 29th. B. Riley upped their price objective on shares of Skyworks Solutions from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, January 29th. Mizuho upped their price objective on shares of Skyworks Solutions from $174.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, January 29th. Finally, Rosenblatt Securities upped their price objective on shares of Skyworks Solutions from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, January 27th. Twelve analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Skyworks Solutions presently has a consensus rating of “Buy” and an average target price of $175.72.

In related news, CEO Liam Griffin sold 3,750 shares of the stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $180.35, for a total value of $676,312.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is owned by company insiders.

Skyworks Solutions Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, 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, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

Further Reading: Short Selling

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

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