Public Sector Pension Investment Board Increases Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Public Sector Pension Investment Board boosted its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 78.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,148 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,694 shares during the period. Public Sector Pension Investment Board’s holdings in Skyworks Solutions were worth $655,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in shares of Skyworks Solutions by 54.9% during the second quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock valued at $370,768,000 after buying an additional 1,233,618 shares during the last quarter. Swedbank AB acquired a new position in shares of Skyworks Solutions in the first quarter valued at about $110,086,000. Vanguard Group Inc. raised its stake in shares of Skyworks Solutions by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after purchasing an additional 745,374 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Skyworks Solutions by 27.5% during the first quarter. Pzena Investment Management LLC now owns 3,429,148 shares of the semiconductor manufacturer’s stock worth $371,445,000 after purchasing an additional 740,048 shares during the period. Finally, Clearbridge Investments LLC acquired a new stake in shares of Skyworks Solutions during the first quarter worth about $38,688,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Buying and Selling

In other Skyworks Solutions news, SVP Carlos S. Bori sold 9,321 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the transaction, the senior vice president now owns 37,203 shares in the company, valued at approximately $3,793,589.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Carlos S. Bori sold 9,321 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the sale, the senior vice president now directly owns 37,203 shares in the company, valued at $3,793,589.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $110.00, for a total transaction of $49,720.00. Following the transaction, the vice president now owns 9,564 shares in the company, valued at $1,052,040. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,068 shares of company stock worth $1,252,490. 0.34% of the stock is owned by corporate insiders.

Skyworks Solutions Stock Performance

NASDAQ:SWKS opened at $97.36 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 5.75. The stock has a market capitalization of $15.62 billion, a PE ratio of 18.30, a P/E/G ratio of 4.64 and a beta of 1.21. Skyworks Solutions, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $120.86. The company has a fifty day moving average of $103.73 and a two-hundred day moving average of $102.53.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21. The firm had revenue of $905.50 million during the quarter, compared to the consensus estimate of $900.41 million. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.50 EPS. As a group, research analysts forecast that Skyworks Solutions, Inc. will post 5.21 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were paid a $0.70 dividend. The ex-dividend date of this dividend was 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 2.88%. Skyworks Solutions’s payout ratio is currently 52.63%.

Wall Street Analysts Forecast Growth

SWKS has been the subject of several research reports. Barclays lifted their price objective on shares of Skyworks Solutions from $85.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. B. Riley upgraded shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and boosted their target price for the company from $96.00 to $130.00 in a research report on Thursday, June 20th. TD Cowen increased their price target on Skyworks Solutions from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Bank of America boosted their price objective on Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus raised their target price on Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Skyworks Solutions currently has a consensus rating of “Hold” and an average target price of $114.18.

Skyworks Solutions 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.