Smithbridge Asset Management Inc. DE Sells 2,500 Shares of Skyworks Solutions Inc. (SWKS)
Smithbridge Asset Management Inc. DE cut its stake in Skyworks Solutions Inc. (NASDAQ:SWKS) by 5.0% during the third quarter, Holdings Channel reports. The institutional investor owned 47,250 shares of the semiconductor manufacturer’s stock after selling 2,500 shares during the period. Skyworks Solutions accounts for approximately 3.2% of Smithbridge Asset Management Inc. DE’s portfolio, making the stock its 6th largest position. Smithbridge Asset Management Inc. DE’s holdings in Skyworks Solutions were worth $3,598,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. increased its stake in shares of Skyworks Solutions by 260.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the semiconductor manufacturer’s stock valued at $114,000 after buying an additional 1,300 shares during the last quarter. Bellwether Investment Group LLC acquired a new stake in shares of Skyworks Solutions during the second quarter valued at $125,000. Synovus Financial Corp increased its stake in shares of Skyworks Solutions by 16.0% in the second quarter. Synovus Financial Corp now owns 2,282 shares of the semiconductor manufacturer’s stock valued at $143,000 after buying an additional 315 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Skyworks Solutions by 39.7% in the second quarter. Checchi Capital Advisers LLC now owns 2,369 shares of the semiconductor manufacturer’s stock valued at $150,000 after buying an additional 673 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. increased its stake in shares of Skyworks Solutions by 101.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,585 shares of the semiconductor manufacturer’s stock valued at $164,000 after buying an additional 1,302 shares during the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.
Shares of Skyworks Solutions Inc. (NASDAQ:SWKS) traded down 0.10% during midday trading on Tuesday, hitting $77.22. 1,721,570 shares of the stock were exchanged. Skyworks Solutions Inc. has a one year low of $54.50 and a one year high of $88.52. The stock has a market cap of $14.35 billion, a P/E ratio of 14.91 and a beta of 1.11. The stock’s 50-day moving average price is $77.19 and its 200 day moving average price is $70.70.
Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Thursday, November 3rd. The semiconductor manufacturer reported $1.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.04. The company had revenue of $835.40 million for the quarter, compared to analyst estimates of $830.94 million. Skyworks Solutions had a return on equity of 28.16% and a net margin of 30.26%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.52 earnings per share. On average, analysts anticipate that Skyworks Solutions Inc. will post $6.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Tuesday, November 15th. Skyworks Solutions’s payout ratio is 21.62%.
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SWKS has been the topic of a number of recent analyst reports. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $100.00 price objective on shares of Skyworks Solutions in a research report on Friday, September 16th. Brean Capital reissued a “buy” rating on shares of Skyworks Solutions in a research report on Wednesday, September 21st. Pacific Crest reissued an “equal weight” rating on shares of Skyworks Solutions in a research report on Thursday, September 15th. Vetr raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating and set a $80.30 price objective on the stock in a research report on Tuesday, October 11th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $90.00 price objective on shares of Skyworks Solutions in a research report on Tuesday, August 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the stock. Skyworks Solutions has an average rating of “Buy” and an average target price of $84.69.
In other Skyworks Solutions news, insider Liam Griffin sold 27,500 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $80.00, for a total value of $2,200,000.00. Following the completion of the sale, the insider now directly owns 66,282 shares of the company’s stock, valued at $5,302,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bruce J. Freyman sold 36,272 shares of the firm’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $80.00, for a total value of $2,901,760.00. Following the completion of the sale, the executive vice president now directly owns 41,675 shares of the company’s stock, valued at $3,334,000. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.
Skyworks Solutions Company Profile
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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