Massmutual Trust Co. FSB ADV boosted its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) by 56.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 287 shares of the semiconductor manufacturer’s stock after purchasing an additional 104 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Skyworks Solutions were worth $27,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of SWKS. Norges Bank acquired a new stake in Skyworks Solutions in the 4th quarter valued at $251,234,000. Vulcan Value Partners LLC lifted its stake in Skyworks Solutions by 32.5% during the 4th quarter. Vulcan Value Partners LLC now owns 5,499,257 shares of the semiconductor manufacturer’s stock valued at $853,155,000 after acquiring an additional 1,348,943 shares in the last quarter. Van ECK Associates Corp lifted its stake in Skyworks Solutions by 43.2% during the 1st quarter. Van ECK Associates Corp now owns 1,171,723 shares of the semiconductor manufacturer’s stock valued at $156,167,000 after acquiring an additional 353,682 shares in the last quarter. BlackRock Inc. lifted its stake in Skyworks Solutions by 2.3% during the 1st quarter. BlackRock Inc. now owns 14,632,218 shares of the semiconductor manufacturer’s stock valued at $1,950,183,000 after acquiring an additional 324,590 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Skyworks Solutions during the 4th quarter valued at $37,899,000. Institutional investors and hedge funds own 74.61% of the company’s stock.
Skyworks Solutions Stock Down 0.0 %
SWKS stock opened at $99.84 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 2.37 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $16.02 billion, a PE ratio of 12.69, a PEG ratio of 0.88 and a beta of 1.21. Skyworks Solutions, Inc. has a twelve month low of $88.76 and a twelve month high of $175.44. The stock has a 50-day simple moving average of $104.66 and a two-hundred day simple moving average of $109.67.
Skyworks Solutions Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were issued a dividend of $0.62 per share. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.48 annualized dividend and a dividend yield of 2.48%. Skyworks Solutions’s payout ratio is presently 31.51%.
Insider Transactions at Skyworks Solutions
In related news, SVP Karilee A. Durham sold 5,858 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $112.26, for a total value of $657,619.08. Following the completion of the sale, the senior vice president now owns 10,130 shares in the company, valued at approximately $1,137,193.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Bank of America cut Skyworks Solutions from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $130.00 to $105.00 in a research note on Wednesday, June 29th. Exane BNP Paribas started coverage on Skyworks Solutions in a research note on Tuesday, September 13th. They set an “outperform” rating on the stock. Wells Fargo & Company lowered their target price on Skyworks Solutions from $160.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, July 11th. Barclays lowered their target price on Skyworks Solutions from $125.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, July 25th. Finally, UBS Group lowered their target price on Skyworks Solutions from $133.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, September 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Skyworks Solutions currently has a consensus rating of “Hold” and an average target price of $140.29.
About Skyworks Solutions
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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