Profund Advisors LLC Increases Holdings in Skyworks Solutions Inc (NASDAQ:SWKS)
Profund Advisors LLC lifted its position in Skyworks Solutions Inc (NASDAQ:SWKS) by 67.1% in the fourth quarter, Holdings Channel reports. The firm owned 37,292 shares of the semiconductor manufacturer’s stock after buying an additional 14,975 shares during the period. Profund Advisors LLC’s holdings in Skyworks Solutions were worth $4,508,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Skyworks Solutions by 1.9% in the fourth quarter. State Street Corp now owns 8,028,543 shares of the semiconductor manufacturer’s stock valued at $970,490,000 after purchasing an additional 147,186 shares during the period. Bank of New York Mellon Corp lifted its holdings in Skyworks Solutions by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,743,916 shares of the semiconductor manufacturer’s stock worth $331,685,000 after buying an additional 186,512 shares during the period. Victory Capital Management Inc. lifted its holdings in Skyworks Solutions by 39.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,110,017 shares of the semiconductor manufacturer’s stock worth $255,060,000 after buying an additional 595,282 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Skyworks Solutions by 18.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,361,379 shares of the semiconductor manufacturer’s stock worth $164,563,000 after buying an additional 211,793 shares during the period. Finally, Artisan Partners Limited Partnership lifted its holdings in Skyworks Solutions by 13.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,292,879 shares of the semiconductor manufacturer’s stock worth $156,283,000 after buying an additional 152,549 shares during the period. Hedge funds and other institutional investors own 81.57% of the company’s stock.
A number of analysts have weighed in on SWKS shares. Mizuho upped their target price on Skyworks Solutions from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Citigroup upped their target price on Skyworks Solutions from $125.00 to $127.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Cascend Securities upped their target price on Skyworks Solutions from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Craig Hallum lowered their target price on Skyworks Solutions from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, Susquehanna Bancshares upped their target price on Skyworks Solutions from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $116.29.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Thursday, January 23rd. The semiconductor manufacturer reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.16. Skyworks Solutions had a return on equity of 23.03% and a net margin of 25.02%. The firm had revenue of $896.10 million for the quarter, compared to the consensus estimate of $881.80 million. During the same period in the prior year, the firm earned $1.83 EPS. The firm’s revenue was down 7.8% on a year-over-year basis. Equities analysts anticipate that Skyworks Solutions Inc will post 5.59 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 11th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Monday, February 10th. Skyworks Solutions’s payout ratio is 30.82%.
In other Skyworks Solutions news, Director David J. Aldrich sold 7,560 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $120.01, for a total transaction of $907,275.60. Following the sale, the director now directly owns 155,592 shares of the company’s stock, valued at approximately $18,672,595.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert John Terry sold 1,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $124.01, for a total value of $124,010.00. Following the sale, the senior vice president now directly owns 13,024 shares in the company, valued at $1,615,106.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,482 shares of company stock worth $2,436,651. 0.64% of the stock is owned by insiders.
About Skyworks Solutions
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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