American Century Companies Inc. cut its stake in Skyworks Solutions (NASDAQ:SWKS) by 1.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,029 shares of the semiconductor manufacturer’s stock after selling 2,856 shares during the quarter. American Century Companies Inc. owned about 0.08% of Skyworks Solutions worth $15,343,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Dearborn Partners LLC bought a new position in Skyworks Solutions in the 1st quarter worth $208,000. Checchi Capital Advisers LLC bought a new position in Skyworks Solutions in the 4th quarter worth $224,000. Granite Springs Asset Management LLC bought a new position in Skyworks Solutions in the 4th quarter worth $230,000. Flaharty Asset Management LLC bought a new position in Skyworks Solutions in the 4th quarter worth $248,000. Finally, We Are One Seven LLC bought a new position in Skyworks Solutions in the 4th quarter worth $235,000. Institutional investors and hedge funds own 82.09% of the company’s stock.
Shares of SWKS stock opened at $98.49 on Friday. Skyworks Solutions has a one year low of $86.13 and a one year high of $117.65. The stock has a market cap of $18.00 billion, a P/E ratio of 16.47, a PEG ratio of 1.22 and a beta of 0.66.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Tuesday, May 22nd will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Monday, May 21st. Skyworks Solutions’s dividend payout ratio (DPR) is 21.40%.
Skyworks Solutions announced that its Board of Directors has initiated a share repurchase plan on Monday, February 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
Several research analysts have commented on SWKS shares. UBS started coverage on shares of Skyworks Solutions in a report on Wednesday, April 4th. They issued a “neutral” rating and a $105.00 price objective for the company. ValuEngine lowered shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. BMO Capital Markets upgraded shares of Skyworks Solutions from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 6th. They noted that the move was a valuation call. Vetr lowered shares of Skyworks Solutions from a “sell” rating to a “strong sell” rating and set a $91.21 price objective for the company. in a report on Thursday, February 1st. Finally, Standpoint Research upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $115.16.
In other news, insider Peter L. Gammel sold 9,000 shares of the firm’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $99.19, for a total transaction of $892,710.00. Following the sale, the insider now owns 21,420 shares of the company’s stock, valued at approximately $2,124,649.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christine King sold 2,401 shares of the firm’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $97.67, for a total transaction of $234,505.67. Following the sale, the director now directly owns 14,928 shares in the company, valued at approximately $1,458,017.76. The disclosure for this sale can be found here. Insiders have sold a total of 87,151 shares of company stock worth $9,458,773 over the last three months. 0.47% of the stock is currently owned by insiders.
About Skyworks Solutions
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, 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 shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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