Sandy Spring Bank grew its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,649 shares of the semiconductor manufacturer’s stock after purchasing an additional 720 shares during the quarter. Sandy Spring Bank’s holdings in Skyworks Solutions were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC purchased a new position in shares of Skyworks Solutions during the second quarter worth approximately $37,000. Accurate Investment Solutions Inc. grew its position in shares of Skyworks Solutions by 42.5% during the second quarter. Accurate Investment Solutions Inc. now owns 580 shares of the semiconductor manufacturer’s stock worth $45,000 after acquiring an additional 173 shares during the last quarter. Valeo Financial Advisors LLC grew its position in shares of Skyworks Solutions by 34.6% during the first quarter. Valeo Financial Advisors LLC now owns 584 shares of the semiconductor manufacturer’s stock worth $48,000 after acquiring an additional 150 shares during the last quarter. Harvest Group Wealth Management LLC purchased a new position in shares of Skyworks Solutions during the first quarter worth approximately $51,000. Finally, AlphaOne Investment Services LLC purchased a new position in shares of Skyworks Solutions during the first quarter worth approximately $54,000. 81.08% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on SWKS shares. DA Davidson lowered their target price on shares of Skyworks Solutions to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Raymond James upgraded shares of Skyworks Solutions from a “market perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Thursday, July 18th. Cowen restated a “market perform” rating and set a $80.00 target price (down from $95.00) on shares of Skyworks Solutions in a research report on Wednesday, June 5th. Barclays lowered shares of Skyworks Solutions from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $75.00 to $80.00 in a research report on Thursday, July 18th. Finally, UBS Group lowered their target price on shares of Skyworks Solutions from $93.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have assigned a buy rating to the stock. Skyworks Solutions has a consensus rating of “Hold” and an average price target of $86.40.
Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 EPS for the quarter, topping the consensus estimate of $1.21 by $0.14. The company had revenue of $767.00 million for the quarter, compared to analyst estimates of $767.71 million. Skyworks Solutions had a net margin of 26.10% and a return on equity of 26.60%. The business’s revenue was down 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. Analysts anticipate that Skyworks Solutions Inc will post 5.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.44 per share. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, August 26th. Skyworks Solutions’s payout ratio is presently 22.93%.
In other Skyworks Solutions news, insider Peter L. Gammel sold 2,250 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $73.36, for a total transaction of $165,060.00. Following the sale, the insider now directly owns 11,490 shares in the company, valued at approximately $842,906.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy R. Furey sold 2,500 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $73.51, for a total transaction of $183,775.00. Following the sale, the director now owns 24,324 shares in the company, valued at $1,788,057.24. The disclosure for this sale can be found here. Insiders have sold a total of 49,750 shares of company stock worth $3,984,835 over the last 90 days. Insiders own 0.64% of the company’s stock.
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: Understanding Price to Earnings Ratio (PE)
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