Canandaigua National Bank & Trust Co. Acquires 618 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Canandaigua National Bank & Trust Co. lifted its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 3.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,193 shares of the semiconductor manufacturer’s stock after purchasing an additional 618 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Skyworks Solutions were worth $1,698,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vulcan Value Partners LLC increased its position in Skyworks Solutions by 38.8% in the second quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock worth $481,552,000 after purchasing an additional 1,262,964 shares during the period. Pacer Advisors Inc. increased its position in Skyworks Solutions by 54.9% in the second quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock worth $370,768,000 after purchasing an additional 1,233,618 shares during the period. Swedbank AB acquired a new stake in Skyworks Solutions in the first quarter worth about $110,086,000. Vanguard Group Inc. increased its position in 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 period. Finally, Pzena Investment Management LLC increased its position in Skyworks Solutions by 27.5% in 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. 85.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Bank of America lifted their price objective on Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 31st. TD Cowen boosted their target price on Skyworks Solutions from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on Skyworks Solutions from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their target price on Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird boosted their target price on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $114.18.

Insider Buying and Selling

In related news, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total transaction of $54,240.00. Following the transaction, the vice president now directly owns 9,112 shares of the company’s stock, valued at approximately $1,093,440. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 9,112 shares of the company’s stock, valued at $1,093,440. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 37,203 shares in the company, valued at approximately $3,793,589.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,068 shares of company stock valued at $1,252,490. 0.34% of the stock is owned by insiders.

Skyworks Solutions Stock Up 0.1 %

NASDAQ SWKS traded up $0.10 during trading on Friday, hitting $96.83. The stock had a trading volume of 1,461,064 shares, compared to its average volume of 2,402,780. Skyworks Solutions, Inc. has a 12 month low of $85.06 and a 12 month high of $120.86. The company has a market capitalization of $15.54 billion, a PE ratio of 18.20, a P/E/G ratio of 4.42 and a beta of 1.20. 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 company’s 50-day moving average price is $103.41 and its two-hundred day moving average price is $102.49.

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

Skyworks Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a dividend of $0.70 per share. The ex-dividend date 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 2.89%. Skyworks Solutions’s payout ratio is presently 52.63%.

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.