Investors Sell Shares of Skyworks Solutions Inc. (SWKS) on Strength (SWKS)
Investors 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
A number of research firms recently commented on SWKS. Zacks Investment Research downgraded shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Thursday, April 28th. B. Riley reissued a “buy” rating and set a $91.00 price objective on shares of Skyworks Solutions in a report on Friday, April 29th. Cowen and Company decreased their price objective on shares of Skyworks Solutions from $78.00 to $76.00 and set a “market perform” rating on the stock in a report on Friday, April 29th. Topeka Capital Markets decreased their price objective on shares of Skyworks Solutions from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, April 29th. Finally, Craig Hallum decreased their price objective on shares of Skyworks Solutions from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, April 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $84.21.
The firm’s 50 day moving average price is $66.34 and its 200-day moving average price is $67.76. The stock has a market capitalization of $13.55 billion and a price-to-earnings ratio of 14.32.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.21 by $0.03. The company had revenue of $751.70 million for the quarter, compared to analyst estimates of $750.22 million. On average, equities research analysts anticipate that Skyworks Solutions Inc. will post $5.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 4th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, August 2nd. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.26.
In related news, Chairman David J. Aldrich sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $67.10, for a total transaction of $1,006,500.00. Following the completion of the sale, the chairman now directly owns 152,811 shares in the company, valued at $10,253,618.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Several hedge funds recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Skyworks Solutions by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 280,834 shares of the semiconductor manufacturer’s stock valued at $21,577,000 after buying an additional 8,316 shares in the last quarter. Eaton Vance Management boosted its stake 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 in the last quarter. Marshall Wace LLP boosted its stake 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. Redwood Investments LLC boosted its stake in Skyworks Solutions by 110.7% in the fourth quarter. Redwood Investments LLC now owns 170,112 shares of the semiconductor manufacturer’s stock valued at $13,070,000 after buying an additional 89,377 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake 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.
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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