Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 4.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 25,564 shares of the semiconductor manufacturer’s stock after selling 1,270 shares during the quarter. CIBC Asset Management Inc’s holdings in Skyworks Solutions were worth $2,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SWKS. Lincoln National Corp lifted its position in Skyworks Solutions by 16.3% during the 4th quarter. Lincoln National Corp now owns 4,849 shares of the semiconductor manufacturer’s stock worth $545,000 after acquiring an additional 680 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Skyworks Solutions by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 908,302 shares of the semiconductor manufacturer’s stock valued at $102,111,000 after buying an additional 7,782 shares during the last quarter. Vestor Capital LLC purchased a new position in shares of Skyworks Solutions during the 4th quarter valued at about $43,000. Principal Securities Inc. purchased a new position in shares of Skyworks Solutions during the 4th quarter valued at about $251,000. Finally, Versor Investments LP raised its stake in shares of Skyworks Solutions by 12.1% during the 4th quarter. Versor Investments LP now owns 10,800 shares of the semiconductor manufacturer’s stock valued at $1,214,000 after buying an additional 1,166 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SWKS. Craig Hallum lifted their price objective on Skyworks Solutions from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on Skyworks Solutions from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their price objective on Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their price target on Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Susquehanna restated a “neutral” rating and issued a $125.00 price target on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $113.94.

Insider Activity

In related news, SVP Reza Kasnavi sold 1,843 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the transaction, the senior vice president now directly owns 17,455 shares in the company, valued at $1,875,888.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Reza Kasnavi sold 1,843 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the transaction, the senior vice president now directly owns 17,455 shares in the company, valued at $1,875,888.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Philip Matthew Carter sold 452 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total value of $54,240.00. Following the completion of the transaction, the vice president now owns 9,112 shares of the company’s stock, valued at $1,093,440. The disclosure for this sale can be found here. Insiders sold 2,747 shares of company stock worth $302,027 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Skyworks Solutions Price Performance

SWKS stock opened at $101.39 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29. The business has a 50 day simple moving average of $108.53 and a 200-day simple moving average of $103.37. The firm has a market capitalization of $16.19 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 4.81 and a beta of 1.21. Skyworks Solutions, Inc. has a 1 year low of $85.06 and a 1 year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. The business had revenue of $905.50 million during the quarter, compared to analyst estimates of $900.41 million. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The business’s revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 earnings per share. Equities research analysts anticipate that Skyworks Solutions, Inc. will post 5.21 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be given a $0.70 dividend. The ex-dividend date is Tuesday, August 20th. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.76%. Skyworks Solutions’s dividend payout ratio is 52.63%.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, 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, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.