Daiwa Securities Group Inc. Boosts Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)
Daiwa Securities Group Inc. increased its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 84.3% during the second quarter, Holdings Channel reports. The fund owned 9,400 shares of the semiconductor manufacturer’s stock after buying an additional 4,300 shares during the period. Daiwa Securities Group Inc.’s holdings in Skyworks Solutions were worth $902,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in shares of Skyworks Solutions during the first quarter worth about $196,000. Round Table Services LLC bought a new position in shares of Skyworks Solutions during the first quarter worth about $220,000. Ledyard National Bank raised its position in shares of Skyworks Solutions by 24,761.0% in the first quarter. Ledyard National Bank now owns 49,722 shares of the semiconductor manufacturer’s stock worth $4,872,000 after buying an additional 49,522 shares during the last quarter. Quotient Investors LLC bought a new position in shares of Skyworks Solutions during the first quarter worth about $764,000. Finally, Barometer Capital Management Inc. bought a new position in shares of Skyworks Solutions during the first quarter worth about $4,341,000. Institutional investors own 81.19% of the company’s stock.
Skyworks Solutions, Inc. (SWKS) opened at 103.18 on Friday. The stock has a 50 day moving average of $102.58 and a 200 day moving average of $100.13. The firm has a market cap of $18.96 billion, a PE ratio of 19.80 and a beta of 0.82. Skyworks Solutions, Inc. has a 12-month low of $65.76 and a 12-month high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.05. Skyworks Solutions had a return on equity of 28.67% and a net margin of 27.86%. The firm had revenue of $900.80 million during the quarter, compared to the consensus estimate of $890.58 million. During the same period last year, the company earned $1.24 earnings per share. The company’s revenue was up 19.8% on a year-over-year basis. On average, equities research analysts anticipate that Skyworks Solutions, Inc. will post $6.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 8th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 4th. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 1.24%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 24.57%.
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A number of brokerages have recently issued reports on SWKS. Vetr lowered shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $110.24 target price on the stock. in a research report on Wednesday, June 7th. Barclays PLC reiterated an “overweight” rating on shares of Skyworks Solutions in a research report on Friday, July 21st. Mizuho upped their target price on shares of Skyworks Solutions from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Craig Hallum upped their target price on shares of Skyworks Solutions from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Cowen and Company reiterated a “market perform” rating and set a $110.00 target price on shares of Skyworks Solutions in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Skyworks Solutions has a consensus rating of “Buy” and a consensus target price of $110.57.
In other news, insider Liam Griffin sold 8,056 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $105.31, for a total transaction of $848,377.36. Following the completion of the transaction, the insider now directly owns 54,310 shares in the company, valued at $5,719,386.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine King sold 3,500 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $108.84, for a total value of $380,940.00. Following the transaction, the director now owns 16,436 shares of the company’s stock, valued at $1,788,894.24. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.
About Skyworks Solutions
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
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