146,977 Shares in Skyworks Solutions, Inc. (NASDAQ:SWKS) Acquired by Blue Grotto Capital LLC

Blue Grotto Capital LLC purchased a new stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 146,977 shares of the semiconductor manufacturer’s stock, valued at approximately $17,340,000. Skyworks Solutions makes up approximately 4.4% of Blue Grotto Capital LLC’s investment portfolio, making the stock its 11th biggest position. Blue Grotto Capital LLC owned about 0.09% of Skyworks Solutions as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SWKS. Panagora Asset Management Inc. grew its holdings in Skyworks Solutions by 54.0% during the first quarter. Panagora Asset Management Inc. now owns 10,415 shares of the semiconductor manufacturer’s stock worth $1,388,000 after acquiring an additional 3,654 shares during the period. LSV Asset Management acquired a new stake in Skyworks Solutions during the first quarter valued at approximately $11,382,000. Raymond James Trust N.A. boosted its holdings in Skyworks Solutions by 7.8% during the first quarter. Raymond James Trust N.A. now owns 2,328 shares of the semiconductor manufacturer’s stock worth $310,000 after buying an additional 169 shares in the last quarter. Prudential PLC acquired a new position in Skyworks Solutions in the first quarter worth approximately $429,000. Finally, Moors & Cabot Inc. increased its holdings in shares of Skyworks Solutions by 9.7% in the first quarter. Moors & Cabot Inc. now owns 7,249 shares of the semiconductor manufacturer’s stock valued at $966,000 after buying an additional 643 shares in the last quarter. Institutional investors own 81.39% of the company’s stock.

Skyworks Solutions Trading Down 1.2 %

Skyworks Solutions stock opened at $98.23 on Tuesday. Skyworks Solutions, Inc. has a one year low of $76.16 and a one year high of $123.69. The company’s fifty day moving average price is $108.95 and its two-hundred day moving average price is $108.34. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.88 and a beta of 1.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.83 and a quick ratio of 2.31.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Monday, August 7th. The semiconductor manufacturer reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.30. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Skyworks Solutions had a return on equity of 23.89% and a net margin of 20.97%. The company’s revenue was down 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.12 earnings per share. On average, analysts forecast that Skyworks Solutions, Inc. will post 7.45 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, August 29th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.77%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, August 28th. Skyworks Solutions’s dividend payout ratio (DPR) is currently 41.91%.

Insider Buying and Selling

In other news, SVP Reza Kasnavi sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $105.38, for a total transaction of $94,842.00. Following the sale, the senior vice president now directly owns 16,094 shares in the company, valued at $1,695,985.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Skyworks Solutions news, SVP Reza Kasnavi sold 900 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $105.38, for a total value of $94,842.00. Following the transaction, the senior vice president now owns 16,094 shares of the company’s stock, valued at $1,695,985.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kevin L. Beebe sold 4,851 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.97, for a total value of $504,358.47. Following the sale, the director now owns 51,855 shares in the company, valued at approximately $5,391,364.35. The disclosure for this sale can be found here. Insiders have sold a total of 58,962 shares of company stock valued at $6,225,401 over the last three months. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SWKS shares. Morgan Stanley lifted their target price on Skyworks Solutions from $104.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 8th. B. Riley raised their target price on shares of Skyworks Solutions from $93.00 to $102.00 in a report on Tuesday, August 8th. Susquehanna boosted their price target on shares of Skyworks Solutions from $125.00 to $130.00 and gave the company a “positive” rating in a report on Tuesday, August 8th. StockNews.com raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Finally, Mizuho cut their target price on shares of Skyworks Solutions from $125.00 to $122.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.27.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, clocks and timings, 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.