Franklin Resources Inc. Has $44.25 Million Stake in Skyworks Solutions, Inc. (SWKS)
Franklin Resources Inc. reduced its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 24.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 461,172 shares of the semiconductor manufacturer’s stock after selling 150,559 shares during the period. Franklin Resources Inc. owned approximately 0.25% of Skyworks Solutions worth $44,250,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Invictus RG bought a new stake in shares of Skyworks Solutions in the 1st quarter valued at approximately $101,000. Winslow Evans & Crocker Inc. grew its stake in shares of Skyworks Solutions by 3.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,085 shares of the semiconductor manufacturer’s stock valued at $104,000 after purchasing an additional 35 shares during the period. WFG Advisors LP grew its stake in shares of Skyworks Solutions by 18.6% in the 1st quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock valued at $113,000 after purchasing an additional 181 shares during the period. TrimTabs Asset Management LLC grew its stake in shares of Skyworks Solutions by 89.0% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock valued at $138,000 after purchasing an additional 664 shares during the period. Finally, Pathstone Family Office LLC bought a new stake in shares of Skyworks Solutions in the 1st quarter valued at approximately $177,000. Institutional investors own 80.86% of the company’s stock.
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In related news, Director Christine King sold 3,705 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total value of $395,768.10. Following the transaction, the director now owns 16,641 shares in the company, valued at $1,777,591.62. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Liam Griffin sold 8,056 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were 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 owns 54,310 shares in the company, valued at approximately $5,719,386.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,371 shares of company stock worth $1,505,093. 0.49% of the stock is owned by company insiders.
Several research firms have recently weighed in on SWKS. B. Riley reiterated a “buy” rating and issued a $120.00 price objective on shares of Skyworks Solutions in a research note on Monday, July 17th. BidaskClub upgraded Skyworks Solutions from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price objective on shares of Skyworks Solutions in a research note on Sunday. Barclays PLC reiterated an “overweight” rating on shares of Skyworks Solutions in a research note on Friday, July 21st. Finally, Vetr lowered Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $116.12 price objective on the stock. in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Skyworks Solutions has a consensus rating of “Buy” and a consensus target price of $111.90.
Skyworks Solutions, Inc. (NASDAQ SWKS) opened at 109.55 on Friday. The stock has a 50 day moving average price of $104.40 and a 200-day moving average price of $102.14. The firm has a market cap of $20.13 billion, a P/E ratio of 21.03 and a beta of 0.81. Skyworks Solutions, Inc. has a 1-year low of $71.65 and a 1-year high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results 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 company had revenue of $900.80 million for the quarter, compared to analyst estimates of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. Skyworks Solutions’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 earnings per share. Equities research analysts forecast that Skyworks Solutions, Inc. will post $6.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 8th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, August 4th. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.28. Skyworks Solutions’s payout ratio is 24.57%.
Skyworks Solutions Profile
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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