Traders Sell Skyworks Solutions Inc. (SWKS) on Strength (SWKS)
Traders sold shares of Skyworks Solutions Inc. (NASDAQ:SWKS) on strength during trading on Friday. $39.90 million flowed into the stock on the tick-up and $56.34 million flowed out of the stock on the tick-down, for a money net flow of $16.44 million out of the stock. Of all companies tracked, Skyworks Solutions had the 0th highest net out-flow for the day. Skyworks Solutions traded up $0.49 for the day and closed at $72.29
SWKS has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on Skyworks Solutions in a research note on Monday, June 27th. They issued an “underweight” rating and a $61.00 price objective for the company. Credit Agricole SA raised Skyworks Solutions from an “underperform” rating to an “outperform” rating and upped their price objective for the stock from $73.00 to $77.00 in a research note on Tuesday, August 9th. Vetr lowered Skyworks Solutions from a “buy” rating to a “hold” rating and set a $72.91 price objective for the company. in a research note on Wednesday. Brean Capital reaffirmed a “buy” rating on shares of Skyworks Solutions in a research note on Wednesday, June 15th. Finally, Drexel Hamilton reaffirmed a “buy” rating on shares of Skyworks Solutions in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $84.21.
The stock’s 50 day moving average is $66.34 and its 200 day moving average is $67.76. The company has a market cap of $13.55 billion and a price-to-earnings ratio of 14.32.
Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.21 by $0.03. The business earned $751.70 million during the quarter, compared to analysts’ expectations of $750.22 million. Equities analysts forecast that Skyworks Solutions Inc. will post $5.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 4th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.55%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, August 2nd.
In related news, Chairman David J. Aldrich sold 15,000 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $67.10, for a total value of $1,006,500.00. Following the transaction, the chairman now owns 152,811 shares of the company’s stock, valued at $10,253,618.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Other institutional investors have bought and sold shares of the company. Eaton Vance Management raised its position in Skyworks Solutions by 35.5% in the fourth quarter. Eaton Vance Management now owns 33,800 shares of the semiconductor manufacturer’s stock valued at $2,597,000 after buying an additional 8,851 shares during the period. Braver Wealth Management LLC bought a new position in Skyworks Solutions during the fourth quarter valued at about $2,787,000. Marshall Wace LLP increased its position in Skyworks Solutions by 32.3% in the fourth quarter. Marshall Wace LLP now owns 53,211 shares of the semiconductor manufacturer’s stock valued at $4,088,000 after buying an additional 12,977 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Skyworks Solutions by 38.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 64,390 shares of the semiconductor manufacturer’s stock valued at $4,947,000 after buying an additional 17,843 shares in the last quarter. Finally, Nicholas Co. Inc. WI bought a new position in Skyworks Solutions during the fourth quarter valued at about $5,923,000.
Skyworks Solutions Inc is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Company’s portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics.
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