Raymond James Trust N.A. bought a new position in Skyworks Solutions, Inc. (NASDAQ:SWKS) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,849 shares of the semiconductor manufacturer’s stock, valued at approximately $339,000.
Several other institutional investors and hedge funds have also recently modified their holdings of SWKS. Sowell Financial Services LLC raised its position in shares of Skyworks Solutions by 5.7% in the 4th quarter. Sowell Financial Services LLC now owns 3,731 shares of the semiconductor manufacturer’s stock worth $570,000 after buying an additional 200 shares during the period. Global Retirement Partners LLC raised its position in shares of Skyworks Solutions by 29.0% in the 4th quarter. Global Retirement Partners LLC now owns 445 shares of the semiconductor manufacturer’s stock worth $68,000 after buying an additional 100 shares during the period. Kovack Advisors Inc. raised its position in shares of Skyworks Solutions by 14.2% in the 4th quarter. Kovack Advisors Inc. now owns 1,584 shares of the semiconductor manufacturer’s stock worth $242,000 after buying an additional 197 shares during the period. Gateway Investment Advisers LLC purchased a new position in shares of Skyworks Solutions in the 4th quarter worth $381,000. Finally, Royal Harbor Partners LLC raised its position in Skyworks Solutions by 19.6% in the fourth quarter. Royal Harbor Partners LLC now owns 7,445 shares of the semiconductor manufacturer’s stock valued at $1,138,000 after purchasing an additional 1,222 shares during the period. 76.32% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:SWKS opened at $165.45 on Monday. The company has a market capitalization of $27.31 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 1.86 and a beta of 1.21. Skyworks Solutions, Inc. has a one year low of $103.70 and a one year high of $204.00. The stock has a 50-day simple moving average of $183.76 and a 200 day simple moving average of $165.95.
Skyworks Solutions declared that its Board of Directors has approved a share buyback plan on Thursday, January 28th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 8th. Shareholders of record on Tuesday, May 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, May 17th. This represents a $2.00 dividend on an annualized basis and a yield of 1.21%. Skyworks Solutions’s payout ratio is currently 38.39%.
Several research firms have commented on SWKS. B. Riley raised their price objective on Skyworks Solutions from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, April 23rd. Rosenblatt Securities raised their price objective on Skyworks Solutions from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, January 27th. Mizuho raised their price objective on Skyworks Solutions from $207.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 6th. Barclays raised their price objective on Skyworks Solutions from $185.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 17th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $135.00 price objective on shares of Skyworks Solutions in a research report on Wednesday, March 10th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Skyworks Solutions currently has a consensus rating of “Buy” and a consensus price target of $188.55.
Skyworks Solutions Company Profile
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, 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, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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