Everence Capital Management Inc. Has $547,000 Holdings in Skyworks Solutions Inc (SWKS)

Everence Capital Management Inc. boosted its holdings in Skyworks Solutions Inc (NASDAQ:SWKS) by 120.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 6,628 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,618 shares during the quarter. Everence Capital Management Inc.’s holdings in Skyworks Solutions were worth $547,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. BOKF NA increased its stake in Skyworks Solutions by 3.7% in the 4th quarter. BOKF NA now owns 3,767 shares of the semiconductor manufacturer’s stock worth $252,000 after buying an additional 133 shares in the last quarter. Capital Investment Counsel Inc grew its position in shares of Skyworks Solutions by 0.3% during the first quarter. Capital Investment Counsel Inc now owns 42,646 shares of the semiconductor manufacturer’s stock valued at $3,517,000 after purchasing an additional 135 shares in the last quarter. Greenwich Wealth Management LLC grew its position in shares of Skyworks Solutions by 0.6% during the fourth quarter. Greenwich Wealth Management LLC now owns 21,762 shares of the semiconductor manufacturer’s stock valued at $1,459,000 after purchasing an additional 136 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Skyworks Solutions by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,958 shares of the semiconductor manufacturer’s stock valued at $533,000 after purchasing an additional 140 shares in the last quarter. Finally, Montag & Caldwell LLC grew its position in shares of Skyworks Solutions by 4.2% during the first quarter. Montag & Caldwell LLC now owns 3,489 shares of the semiconductor manufacturer’s stock valued at $288,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.

Shares of NASDAQ SWKS opened at $78.75 on Thursday. The stock has a market capitalization of $13.23 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.10 and a beta of 0.70. Skyworks Solutions Inc has a 1 year low of $60.12 and a 1 year high of $104.20.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.04. The business had revenue of $810.40 million during the quarter, compared to the consensus estimate of $809.52 million. Skyworks Solutions had a net margin of 29.06% and a return on equity of 28.25%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 earnings per share. On average, equities analysts forecast that Skyworks Solutions Inc will post 6.11 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, May 20th. Skyworks Solutions’s payout ratio is currently 22.93%.

Skyworks Solutions announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 15.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

A number of brokerages have recently weighed in on SWKS. Zacks Investment Research lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup raised their price objective on Skyworks Solutions from $81.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Canaccord Genuity raised their price objective on Skyworks Solutions from $84.00 to $99.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Bank of America restated an “underperform” rating and set a $80.00 price objective (up previously from $70.00) on shares of Skyworks Solutions in a research report on Friday, May 3rd. Finally, BMO Capital Markets raised their price objective on Skyworks Solutions to $105.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $91.55.

In other Skyworks Solutions news, insider Peter L. Gammel sold 2,351 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $82.81, for a total value of $194,686.31. Following the completion of the sale, the insider now owns 11,121 shares of the company’s stock, valued at $920,930.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Peter L. Gammel sold 1,881 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $93.53, for a total transaction of $175,929.93. Following the completion of the sale, the chief technology officer now directly owns 9,240 shares of the company’s stock, valued at approximately $864,217.20. The disclosure for this sale can be found here. In the last three months, insiders sold 112,065 shares of company stock valued at $9,807,474. 0.64% of the stock is owned by insiders.

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Skyworks Solutions Profile

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.

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

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