State Street Corp increased its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,739,120 shares of the semiconductor manufacturer’s stock after buying an additional 38,898 shares during the period. State Street Corp owned approximately 4.19% of Skyworks Solutions worth $758,285,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cim LLC increased its position in shares of Skyworks Solutions by 3.6% in the first quarter. Cim LLC now owns 6,118 shares of the semiconductor manufacturer’s stock worth $599,000 after buying an additional 215 shares during the period. USA Financial Portformulas Corp bought a new position in shares of Skyworks Solutions during the fourth quarter worth $1,369,000. Advisory Services Network LLC bought a new position in shares of Skyworks Solutions during the first quarter worth $1,340,000. Contravisory Investment Management Inc. bought a new position in shares of Skyworks Solutions during the first quarter worth $6,378,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Skyworks Solutions by 3.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,878 shares of the semiconductor manufacturer’s stock worth $2,927,000 after buying an additional 886 shares during the period. Institutional investors own 81.27% of the company’s stock.
Shares of Skyworks Solutions, Inc. (SWKS) opened at 103.30 on Tuesday. The company’s 50-day moving average is $104.22 and its 200-day moving average is $94.94. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 21.29 and a beta of 0.81. Skyworks Solutions, Inc. has a one year low of $62.40 and a one year high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Thursday, April 27th. The semiconductor manufacturer reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.03. Skyworks Solutions had a net margin of 27.27% and a return on equity of 28.00%. The company had revenue of $851.70 million for the quarter, compared to analysts’ expectations of $840.43 million. During the same quarter in the prior year, the company posted $1.25 earnings per share. Skyworks Solutions’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts predict that Skyworks Solutions, Inc. will post $6.32 EPS for the current year.
SWKS has been the topic of a number of research analyst reports. Vetr downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $101.62 price objective on the stock. in a research report on Monday, April 3rd. ValuEngine downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Craig Hallum increased their price objective on shares of Skyworks Solutions from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, April 4th. Zacks Investment Research downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. Finally, Canaccord Genuity increased their price objective on shares of Skyworks Solutions from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the stock. Skyworks Solutions has a consensus rating of “Buy” and a consensus target price of $102.93.
In other Skyworks Solutions news, insider David J. Aldrich sold 47,475 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $102.00, for a total value of $4,842,450.00. Following the transaction, the insider now owns 191,731 shares of the company’s stock, valued at $19,556,562. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christine King sold 3,500 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $108.84, for a total transaction of $380,940.00. Following the completion of the transaction, the director now directly owns 16,436 shares in the company, valued at approximately $1,788,894.24. The disclosure for this sale can be found here. Insiders sold 93,458 shares of company stock worth $9,512,091 in the last ninety days. 0.49% of the stock is currently owned by corporate insiders.
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.
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