Skyworks Solutions, Inc. (SWKS) Shares Sold by CIBC Asset Management Inc
CIBC Asset Management Inc reduced its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,534 shares of the semiconductor manufacturer’s stock after selling 3,016 shares during the quarter. CIBC Asset Management Inc’s holdings in Skyworks Solutions were worth $3,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in Skyworks Solutions during the 3rd quarter valued at approximately $2,912,000. Meridian Management Co. bought a new position in shares of Skyworks Solutions during the 3rd quarter valued at approximately $1,425,000. HM Payson & Co. boosted its position in shares of Skyworks Solutions by 1.1% during the 3rd quarter. HM Payson & Co. now owns 88,271 shares of the semiconductor manufacturer’s stock valued at $8,995,000 after acquiring an additional 990 shares during the last quarter. HL Financial Services LLC boosted its position in shares of Skyworks Solutions by 5.7% during the 3rd quarter. HL Financial Services LLC now owns 48,748 shares of the semiconductor manufacturer’s stock valued at $4,967,000 after acquiring an additional 2,639 shares during the last quarter. Finally, WESPAC Advisors SoCal LLC boosted its position in shares of Skyworks Solutions by 11.3% during the 3rd quarter. WESPAC Advisors SoCal LLC now owns 6,675 shares of the semiconductor manufacturer’s stock valued at $680,000 after acquiring an additional 675 shares during the last quarter. 80.58% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on SWKS shares. Vetr upgraded Skyworks Solutions from a “hold” rating to a “buy” rating and set a $118.57 price target for the company in a research report on Tuesday, November 7th. Craig Hallum raised their price target on Skyworks Solutions from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Barclays PLC raised their price target on Skyworks Solutions from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. DA Davidson restated a “buy” rating and issued a $130.00 price target on shares of Skyworks Solutions in a research report on Tuesday, November 7th. Finally, Canaccord Genuity restated a “buy” rating and issued a $117.00 price target (up from $115.00) on shares of Skyworks Solutions in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $115.68.
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Skyworks Solutions, Inc. (NASDAQ SWKS) opened at $110.06 on Friday. Skyworks Solutions, Inc. has a 52 week low of $71.65 and a 52 week high of $117.65. The stock has a market capitalization of $20,007.46, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Monday, November 20th. Skyworks Solutions’s dividend payout ratio is presently 23.66%.
In related news, CEO Liam Griffin sold 12,141 shares of Skyworks Solutions stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $110.95, for a total transaction of $1,347,043.95. Following the completion of the sale, the chief executive officer now owns 49,514 shares of the company’s stock, valued at $5,493,578.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine King sold 3,705 shares of Skyworks Solutions stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $106.82, for a total value of $395,768.10. Following the sale, the director now directly owns 16,641 shares of the company’s stock, valued at approximately $1,777,591.62. The disclosure for this sale can be found here. In the last three months, insiders sold 52,432 shares of company stock valued at $5,641,736. Corporate insiders own 0.49% of the company’s stock.
Skyworks Solutions Company Profile
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
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