Seven Eight Capital LP Buys Shares of 16,793 Skyworks Solutions, Inc. (SWKS)
Seven Eight Capital LP bought a new stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 16,793 shares of the semiconductor manufacturer’s stock, valued at approximately $1,611,000.
A number of other institutional investors and hedge funds have also modified their holdings of SWKS. Invictus RG purchased a new position in shares of Skyworks Solutions in the 1st quarter worth $101,000. Winslow Evans & Crocker Inc. raised its holdings in Skyworks Solutions by 3.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,085 shares of the semiconductor manufacturer’s stock worth $104,000 after purchasing an additional 35 shares during the period. WFG Advisors LP raised its holdings in Skyworks Solutions by 18.6% in the 1st quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock worth $113,000 after purchasing an additional 181 shares during the period. TrimTabs Asset Management LLC raised its holdings in Skyworks Solutions by 89.0% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $138,000 after purchasing an additional 664 shares during the period. Finally, Pathstone Family Office LLC bought a new position in Skyworks Solutions in the 1st quarter worth $177,000. Institutional investors and hedge funds own 80.86% of the company’s stock.
A number of equities research analysts have commented on the company. B. Riley reissued a “buy” rating and set a $120.00 price target on shares of Skyworks Solutions in a report on Monday, July 17th. Vetr cut Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $116.12 target price on the stock. in a report on Monday, July 17th. Argus began coverage on Skyworks Solutions in a report on Thursday, July 6th. They issued a “buy” rating and a $120.00 target price on the stock. BidaskClub lowered Skyworks Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Mizuho lifted their price target on Skyworks Solutions from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. Skyworks Solutions currently has a consensus rating of “Buy” and an average price target of $111.83.
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In other Skyworks Solutions news, insider Liam Griffin sold 8,056 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $105.31, for a total value of $848,377.36. Following the sale, the insider now owns 54,310 shares of the company’s stock, valued at $5,719,386.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine King sold 3,705 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total transaction of $395,768.10. Following the completion of the sale, the director now directly owns 16,641 shares in the company, valued at approximately $1,777,591.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,371 shares of company stock worth $1,505,093. 0.49% of the stock is owned by insiders.
Shares of Skyworks Solutions, Inc. (NASDAQ SWKS) opened at 106.38 on Thursday. The firm has a 50-day moving average of $104.32 and a 200-day moving average of $101.97. Skyworks Solutions, Inc. has a 12-month low of $69.51 and a 12-month high of $112.11. The firm has a market cap of $19.55 billion, a P/E ratio of 20.42 and a beta of 0.81.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. The firm had revenue of $900.80 million for the quarter, compared to the consensus estimate of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 earnings per share. On average, equities analysts forecast that Skyworks Solutions, Inc. will post $6.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Tuesday, August 8th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 4th. This represents a $1.28 dividend on an annualized basis and a yield of 1.20%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.28. Skyworks Solutions’s payout ratio is currently 24.57%.
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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