Raymond James & Associates Has $5.08 Million Holdings in Skyworks Solutions Inc (SWKS)
Raymond James & Associates reduced its stake in Skyworks Solutions Inc (NASDAQ:SWKS) by 45.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,758 shares of the semiconductor manufacturer’s stock after selling 62,007 shares during the quarter. Raymond James & Associates’ holdings in Skyworks Solutions were worth $5,077,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of SWKS. Robeco Institutional Asset Management B.V. grew its stake in Skyworks Solutions by 16.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 140,822 shares of the semiconductor manufacturer’s stock valued at $12,771,000 after acquiring an additional 19,950 shares in the last quarter. Victory Capital Management Inc. lifted its position in Skyworks Solutions by 226.2% during the third quarter. Victory Capital Management Inc. now owns 79,976 shares of the semiconductor manufacturer’s stock valued at $7,255,000 after purchasing an additional 55,460 shares during the last quarter. Private Advisor Group LLC lifted its position in Skyworks Solutions by 55.4% during the third quarter. Private Advisor Group LLC now owns 4,142 shares of the semiconductor manufacturer’s stock valued at $376,000 after purchasing an additional 1,477 shares during the last quarter. Wells Fargo & Company MN lifted its position in Skyworks Solutions by 4.1% during the third quarter. Wells Fargo & Company MN now owns 455,311 shares of the semiconductor manufacturer’s stock valued at $41,302,000 after purchasing an additional 17,879 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Skyworks Solutions by 32.5% during the third quarter. Janney Montgomery Scott LLC now owns 20,932 shares of the semiconductor manufacturer’s stock valued at $1,899,000 after purchasing an additional 5,132 shares during the last quarter. Institutional investors own 81.15% of the company’s stock.
NASDAQ:SWKS opened at $83.76 on Friday. Skyworks Solutions Inc has a 52 week low of $60.12 and a 52 week high of $111.91. The firm has a market cap of $14.58 billion, a P/E ratio of 12.63, a PEG ratio of 1.26 and a beta of 0.69.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Tuesday, February 26th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Monday, February 25th. Skyworks Solutions’s payout ratio is currently 22.93%.
Skyworks Solutions declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 15.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
A number of brokerages have recently weighed in on SWKS. Bank of America lowered shares of Skyworks Solutions from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $92.00 to $75.00 in a report on Tuesday, November 20th. Morgan Stanley upgraded shares of Skyworks Solutions from an “underweight” rating to an “equal weight” rating and set a $76.00 price objective for the company in a report on Wednesday, November 28th. Cowen restated a “market perform” rating and issued a $80.00 price objective (down from $95.00) on shares of Skyworks Solutions in a report on Thursday, November 29th. TheStreet lowered shares of Skyworks Solutions from a “b-” rating to a “c+” rating in a report on Friday, November 30th. Finally, UBS Group began coverage on shares of Skyworks Solutions in a report on Thursday, December 6th. They issued a “neutral” rating and a $70.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. Skyworks Solutions has an average rating of “Hold” and a consensus target price of $93.00.
In other Skyworks Solutions news, CTO Peter L. Gammel sold 2,652 shares of the business’s stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $68.45, for a total transaction of $181,529.40. Following the transaction, the chief technology officer now directly owns 15,123 shares of the company’s stock, valued at approximately $1,035,169.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Peter L. Gammel sold 2,351 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $82.81, for a total transaction of $194,686.31. Following the transaction, the insider now directly owns 11,121 shares in the company, valued at $920,930.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,918 shares of company stock worth $780,053. Insiders own 0.47% of the company’s stock.
Skyworks Solutions Profile
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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