Morris Capital Advisors LLC Reduces Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Morris Capital Advisors LLC lessened its position in Skyworks Solutions, Inc. (NASDAQ:SWKSGet Rating) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,648 shares of the semiconductor manufacturer’s stock after selling 136 shares during the quarter. Morris Capital Advisors LLC’s holdings in Skyworks Solutions were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Skyworks Solutions during the fourth quarter valued at $251,234,000. Vulcan Value Partners LLC boosted its holdings in shares of Skyworks Solutions by 32.5% in the fourth quarter. Vulcan Value Partners LLC now owns 5,499,257 shares of the semiconductor manufacturer’s stock valued at $853,155,000 after purchasing an additional 1,348,943 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Skyworks Solutions by 43.2% in the first quarter. Van ECK Associates Corp now owns 1,171,723 shares of the semiconductor manufacturer’s stock valued at $156,167,000 after purchasing an additional 353,682 shares during the period. BlackRock Inc. boosted its holdings in shares of Skyworks Solutions by 2.3% in the first quarter. BlackRock Inc. now owns 14,632,218 shares of the semiconductor manufacturer’s stock valued at $1,950,183,000 after purchasing an additional 324,590 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Skyworks Solutions during the fourth quarter worth $37,899,000. Institutional investors own 74.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on SWKS shares. Raymond James decreased their price objective on Skyworks Solutions from $170.00 to $150.00 in a report on Friday, August 5th. BNP Paribas initiated coverage on shares of Skyworks Solutions in a research note on Tuesday, September 13th. They issued an “outperform” rating and a $120.00 price target on the stock. Barclays decreased their target price on shares of Skyworks Solutions from $125.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, July 25th. KeyCorp decreased their target price on shares of Skyworks Solutions from $160.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Finally, Cowen set a $132.00 price target on shares of Skyworks Solutions in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of “Hold” and an average price target of $140.29.

Insiders Place Their Bets

In related news, SVP Karilee A. Durham sold 5,858 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $112.26, for a total transaction of $657,619.08. Following the transaction, the senior vice president now directly owns 10,130 shares of the company’s stock, valued at approximately $1,137,193.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

Skyworks Solutions Trading Down 1.4 %

SWKS stock traded down $1.31 during trading on Friday, hitting $94.34. The company had a trading volume of 102,739 shares, compared to its average volume of 1,745,379. The business has a 50-day moving average of $104.62 and a 200-day moving average of $109.28. Skyworks Solutions, Inc. has a one year low of $88.76 and a one year high of $175.44. The stock has a market cap of $15.14 billion, a PE ratio of 11.90, a PEG ratio of 0.86 and a beta of 1.21. The company has a current ratio of 2.37, a quick ratio of 1.47 and a debt-to-equity ratio of 0.32.

Skyworks Solutions (NASDAQ:SWKSGet Rating) last issued its earnings results on Thursday, August 4th. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.39. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Skyworks Solutions had a return on equity of 30.43% and a net margin of 24.11%. Skyworks Solutions’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 earnings per share. Research analysts predict that Skyworks Solutions, Inc. will post 9.95 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th were paid a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.48 annualized dividend and a yield of 2.63%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.56. Skyworks Solutions’s dividend payout ratio (DPR) is currently 31.51%.

About Skyworks Solutions

(Get Rating)

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, timing devices, 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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