PNC Financial Services Group Inc. Cuts Holdings in Skyworks Solutions, Inc. (SWKS)

PNC Financial Services Group Inc. decreased its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 5.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 200,173 shares of the semiconductor manufacturer’s stock after selling 11,271 shares during the period. PNC Financial Services Group Inc. owned 0.11% of Skyworks Solutions worth $19,208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Girard Partners LTD. increased its position in Skyworks Solutions by 0.3% during the 2nd quarter. Girard Partners LTD. now owns 5,819 shares of the semiconductor manufacturer’s stock valued at $558,000 after purchasing an additional 16 shares during the period. Cadence Capital Management LLC increased its position in Skyworks Solutions by 0.3% during the 2nd quarter. Cadence Capital Management LLC now owns 7,687 shares of the semiconductor manufacturer’s stock valued at $738,000 after purchasing an additional 21 shares during the period. Winslow Evans & Crocker Inc. increased its position in Skyworks Solutions by 3.3% during 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. Montag A & Associates Inc. increased its position in Skyworks Solutions by 0.5% during the 2nd quarter. Montag A & Associates Inc. now owns 9,108 shares of the semiconductor manufacturer’s stock valued at $874,000 after purchasing an additional 41 shares during the period. Finally, Cleararc Capital Inc. increased its position in Skyworks Solutions by 1.1% during the 1st quarter. Cleararc Capital Inc. now owns 4,544 shares of the semiconductor manufacturer’s stock valued at $445,000 after purchasing an additional 50 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Liam Griffin sold 2,610 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $99.98, for a total transaction of $260,947.80. Following the transaction, the insider now directly owns 50,408 shares in the company, valued at $5,039,791.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christine King sold 3,705 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $106.82, for a total transaction of $395,768.10. Following the transaction, the director now owns 16,641 shares in the company, valued at $1,777,591.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,371 shares of company stock worth $1,505,093. Insiders own 0.49% of the company’s stock.

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Skyworks Solutions, Inc. (NASDAQ SWKS) opened at 107.93 on Wednesday. The company has a 50 day moving average of $104.54 and a 200 day moving average of $102.42. Skyworks Solutions, Inc. has a 1-year low of $71.65 and a 1-year high of $112.11. The firm has a market capitalization of $19.83 billion, a PE ratio of 20.72 and a beta of 0.81.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. The business 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%. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Analysts forecast that Skyworks Solutions, Inc. will post $6.39 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 8th were given a dividend of $0.32 per share. The ex-dividend date was Friday, August 4th. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.19%. Skyworks Solutions’s dividend payout ratio (DPR) is 24.57%.

A number of research firms have commented on SWKS. Needham & Company LLC reissued a “buy” rating and set a $110.00 target price on shares of Skyworks Solutions in a research report on Sunday. Vetr downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $112.42 target price on the stock. in a research report on Monday. Barclays PLC reissued an “overweight” rating on shares of Skyworks Solutions in a research report on Friday, July 21st. Mizuho raised their target price on shares of Skyworks Solutions from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Craig Hallum raised their target price on shares of Skyworks Solutions from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $111.82.

Skyworks Solutions Company 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.

Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

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