Ontario Teachers Pension Plan Board cut its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 33.3% during the third quarter, Holdings Channel reports. The institutional investor owned 5,687 shares of the semiconductor manufacturer’s stock after selling 2,836 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Skyworks Solutions were worth $433,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of SWKS. BKS Advisors LLC purchased a new stake in Skyworks Solutions during the third quarter valued at about $101,000. Canada Pension Plan Investment Board boosted its stake in Skyworks Solutions by 1,084.1% in the third quarter. Canada Pension Plan Investment Board now owns 1,338 shares of the semiconductor manufacturer’s stock valued at $102,000 after buying an additional 1,225 shares in the last quarter. Investment Counselors of Maryland LLC purchased a new stake in Skyworks Solutions during the third quarter valued at about $102,000. Kistler Tiffany Companies LLC boosted its stake in Skyworks Solutions by 190.5% in the third quarter. Kistler Tiffany Companies LLC now owns 1,525 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 1,000 shares in the last quarter. Finally, TLP Group LLC purchased a new stake in Skyworks Solutions during the third quarter valued at about $133,000. Institutional investors and hedge funds own 83.27% of the company’s stock.
Skyworks Solutions, Inc. (NASDAQ:SWKS) traded down 0.28% during mid-day trading on Friday, reaching $92.21. 1,947,332 shares of the company’s stock were exchanged. Skyworks Solutions, Inc. has a one year low of $57.11 and a one year high of $94.49. The firm has a market capitalization of $17.04 billion, a P/E ratio of 19.51 and a beta of 0.88. The company’s 50-day moving average is $83.94 and its 200 day moving average is $76.66.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Thursday, January 19th. The semiconductor manufacturer reported $1.61 EPS for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.03. The firm had revenue of $914.30 million for the quarter, compared to analysts’ expectations of $902.68 million. Skyworks Solutions had a net margin of 27.40% and a return on equity of 27.80%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.60 earnings per share. Equities analysts predict that Skyworks Solutions, Inc. will post $6.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 23rd. Stockholders of record on Thursday, February 2nd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, January 31st. Skyworks Solutions’s payout ratio is presently 23.63%.
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A number of equities analysts have recently commented on the stock. Vetr raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating and set a $89.29 price target on the stock in a report on Wednesday, January 25th. Brean Capital increased their price target on shares of Skyworks Solutions to $95.00 in a report on Friday, January 20th. Tigress Financial reissued a “strong-buy” rating on shares of Skyworks Solutions in a report on Tuesday, January 24th. B. Riley reissued a “buy” rating and issued a $104.00 price target on shares of Skyworks Solutions in a report on Sunday, January 22nd. Finally, Drexel Hamilton increased their price target on shares of Skyworks Solutions from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, January 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $87.13.
In other news, VP Laura A. Gasparini sold 3,450 shares of the company’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $91.43, for a total value of $315,433.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David J. Aldrich sold 55,000 shares of the company’s stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $91.25, for a total transaction of $5,018,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 204,817 shares of company stock worth $17,045,764. Company insiders own 0.62% of the company’s stock.
About Skyworks Solutions
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.
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