Alps Advisors Inc. Reduces Holdings in Skyworks Solutions Inc (SWKS)
Alps Advisors Inc. lessened its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 19.4% in the 2nd quarter, Holdings Channel reports. The firm owned 9,165 shares of the semiconductor manufacturer’s stock after selling 2,207 shares during the period. Alps Advisors Inc.’s holdings in Skyworks Solutions were worth $870,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SWKS. Signaturefd LLC bought a new position in shares of Skyworks Solutions during the 1st quarter valued at about $100,000. Mckinley Capital Management LLC Delaware raised its position in shares of Skyworks Solutions by 67.2% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 1,478 shares of the semiconductor manufacturer’s stock valued at $148,000 after buying an additional 594 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of Skyworks Solutions during the 2nd quarter valued at about $171,000. Syntal Capital Partners LLC purchased a new stake in shares of Skyworks Solutions during the 1st quarter valued at about $201,000. Finally, Highland Capital Management LP purchased a new stake in shares of Skyworks Solutions during the 1st quarter valued at about $201,000. 81.42% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently issued reports on the stock. Cowen restated a “hold” rating and set a $105.00 target price (up from $100.00) on shares of Skyworks Solutions in a research report on Friday, July 20th. BidaskClub cut shares of Skyworks Solutions from a “sell” rating to a “strong sell” rating in a research report on Friday. B. Riley upped their target price on shares of Skyworks Solutions from $116.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, July 20th. DA Davidson decreased their target price on shares of Skyworks Solutions to $125.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Finally, Zacks Investment Research upgraded shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Four analysts have rated the stock with a sell rating, five have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $115.26.
Skyworks Solutions stock opened at $91.85 on Friday. Skyworks Solutions Inc has a 1-year low of $86.13 and a 1-year high of $117.65. The stock has a market capitalization of $16.66 billion, a P/E ratio of 15.36, a PEG ratio of 1.03 and a beta of 0.56.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, July 19th. The semiconductor manufacturer reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.04. Skyworks Solutions had a net margin of 23.78% and a return on equity of 30.31%. The company had revenue of $894.30 million for the quarter, compared to analyst estimates of $889.00 million. During the same period in the prior year, the company posted $1.57 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. equities research analysts predict that Skyworks Solutions Inc will post 6.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 28th. Investors of record on Tuesday, August 7th will be given a $0.38 dividend. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Monday, August 6th. Skyworks Solutions’s dividend payout ratio is 25.42%.
Skyworks Solutions Company 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, 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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