Mercer Global Advisors Inc. ADV Takes $942,000 Position in Skyworks Solutions Inc (SWKS)

Mercer Global Advisors Inc. ADV purchased a new stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) in the first quarter, according to its most recent filing with the SEC. The firm purchased 14,054 shares of the semiconductor manufacturer’s stock, valued at approximately $942,000.

Several other hedge funds also recently bought and sold shares of SWKS. Strategic Financial Services Inc raised its position in shares of Skyworks Solutions by 1.5% during the 4th quarter. Strategic Financial Services Inc now owns 55,024 shares of the semiconductor manufacturer’s stock worth $3,688,000 after purchasing an additional 791 shares during the last quarter. Montrusco Bolton Investments Inc. raised its position in shares of Skyworks Solutions by 1.7% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 135,861 shares of the semiconductor manufacturer’s stock worth $8,997,000 after purchasing an additional 2,252 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Skyworks Solutions by 13.7% during the 3rd quarter. Nordea Investment Management AB now owns 153,613 shares of the semiconductor manufacturer’s stock worth $13,935,000 after purchasing an additional 18,513 shares during the last quarter. Norinchukin Bank The raised its position in shares of Skyworks Solutions by 43.5% during the 4th quarter. Norinchukin Bank The now owns 33,026 shares of the semiconductor manufacturer’s stock worth $2,213,000 after purchasing an additional 10,006 shares during the last quarter. Finally, Gateway Investment Advisers LLC raised its position in shares of Skyworks Solutions by 6.5% during the 1st quarter. Gateway Investment Advisers LLC now owns 178,524 shares of the semiconductor manufacturer’s stock worth $14,725,000 after purchasing an additional 10,854 shares during the last quarter. Institutional investors own 82.55% of the company’s stock.

In other news, insider Peter L. Gammel sold 1,915 shares of the business’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $83.91, for a total transaction of $160,687.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David J. Aldrich sold 3,000 shares of the business’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $81.05, for a total transaction of $243,150.00. Following the sale, the director now directly owns 203,922 shares of the company’s stock, valued at $16,527,878.10. The disclosure for this sale can be found here. Insiders have sold a total of 61,849 shares of company stock valued at $5,323,919 over the last three months. Corporate insiders own 0.64% of the company’s stock.

SWKS has been the subject of several research reports. B. Riley upgraded Skyworks Solutions from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $90.00 in a research report on Monday, January 28th. CIBC restated a “market perform” rating on shares of Skyworks Solutions in a research report on Monday, January 7th. Goldman Sachs Group upgraded Skyworks Solutions from a “neutral” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Wednesday, February 6th. Canaccord Genuity restated a “buy” rating and set a $84.00 price objective (down from $96.00) on shares of Skyworks Solutions in a research report on Wednesday, January 9th. Finally, Craig Hallum restated a “buy” rating and set a $90.00 price objective (down from $105.00) on shares of Skyworks Solutions in a research report on Wednesday, January 9th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $93.00.

SWKS stock opened at $93.56 on Wednesday. The company has a market capitalization of $15.62 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.38 and a beta of 0.68. Skyworks Solutions Inc has a one year low of $60.12 and a one year high of $104.20.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.12. The firm had revenue of $972.00 million during the quarter, compared to analysts’ expectations of $974.70 million. Skyworks Solutions had a net margin of 29.91% and a return on equity of 29.30%. Skyworks Solutions’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.00 EPS. As a group, equities analysts anticipate that Skyworks Solutions Inc will post 6.01 earnings per share for the current fiscal year.

Skyworks Solutions announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 5th that authorizes the company to buyback $2.00 billion in 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 often a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, February 26th were paid a dividend of $0.38 per share. The ex-dividend date was Monday, February 25th. This represents a $1.52 annualized dividend and a dividend yield of 1.62%. Skyworks Solutions’s dividend payout ratio is presently 22.93%.

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About Skyworks Solutions

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.

Further Reading: What are Institutional Investors?

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

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