Plimoth Trust Co. LLC cut its position in Skyworks Solutions Inc (NASDAQ:SWKS) by 29.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,905 shares of the semiconductor manufacturer’s stock after selling 2,420 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Skyworks Solutions were worth $456,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cognios Capital LLC purchased a new position in shares of Skyworks Solutions during the first quarter valued at approximately $2,210,000. Sit Investment Associates Inc. increased its holdings in Skyworks Solutions by 1.2% during the first quarter. Sit Investment Associates Inc. now owns 160,265 shares of the semiconductor manufacturer’s stock valued at $13,219,000 after buying an additional 1,886 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Skyworks Solutions by 593.7% during the first quarter. Meeder Asset Management Inc. now owns 2,088 shares of the semiconductor manufacturer’s stock valued at $172,000 after buying an additional 1,787 shares during the last quarter. ARS Investment Partners LLC purchased a new stake in Skyworks Solutions during the first quarter valued at approximately $12,178,000. Finally, Tyers Asset Management LLC increased its holdings in Skyworks Solutions by 10.0% during the first quarter. Tyers Asset Management LLC now owns 88,928 shares of the semiconductor manufacturer’s stock valued at $7,335,000 after buying an additional 8,064 shares during the last quarter. 81.12% of the stock is owned by institutional investors and hedge funds.

Shares of SWKS traded up $0.49 during mid-day trading on Wednesday, reaching $77.23. The stock had a trading volume of 27,166 shares, compared to its average volume of 2,295,458. The firm has a market cap of $13.16 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.64 and a beta of 1.02. Skyworks Solutions Inc has a 12 month low of $60.12 and a 12 month high of $94.39. The business has a fifty day moving average of $80.59 and a 200 day moving average of $80.22.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.14. The business had revenue of $767.00 million during the quarter, compared to analyst estimates of $767.71 million. Skyworks Solutions had a net margin of 26.10% and a return on equity of 26.60%. The company’s revenue was down 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. As a group, equities analysts anticipate that Skyworks Solutions Inc will post 5.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, August 27th will be given a $0.44 dividend. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, August 26th. Skyworks Solutions’s dividend payout ratio is presently 22.93%.

In related news, Director David J. Aldrich sold 999 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $76.45, for a total transaction of $76,373.55. Following the completion of the transaction, the director now owns 204,031 shares in the company, valued at $15,598,169.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David J. Aldrich sold 10,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $85.88, for a total transaction of $858,800.00. Following the transaction, the director now owns 213,032 shares of the company’s stock, valued at approximately $18,295,188.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,749 shares of company stock valued at $4,061,209. Company insiders own 0.64% of the company’s stock.

A number of analysts have commented on the stock. Canaccord Genuity reduced their target price on shares of Skyworks Solutions from $83.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Argus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $69.00 target price for the company. in a report on Friday, June 7th. BidaskClub cut shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Tuesday. B. Riley reduced their target price on shares of Skyworks Solutions from $110.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, Craig Hallum upped their target price on shares of Skyworks Solutions from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.40.

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, 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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