CIBC Asset Management Inc Has $2.69 Million Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

CIBC Asset Management Inc boosted its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,273 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,709 shares during the period. CIBC Asset Management Inc’s holdings in Skyworks Solutions were worth $2,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its stake in shares of Skyworks Solutions by 4.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock valued at $239,000 after acquiring an additional 87 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in Skyworks Solutions by 14.8% in the 2nd quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock worth $83,000 after purchasing an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Skyworks Solutions by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock valued at $1,468,000 after purchasing an additional 100 shares in the last quarter. Zega Financial LLC boosted its stake in shares of Skyworks Solutions by 5.0% during the second quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock valued at $224,000 after purchasing an additional 100 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co grew its holdings in shares of Skyworks Solutions by 0.7% during the second quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock worth $1,569,000 after purchasing an additional 107 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

SWKS has been the topic of several recent research reports. Stifel Nicolaus lifted their target price on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Bank of America increased 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. Loop Capital assumed coverage on Skyworks Solutions in a report on Monday, November 11th. They set a “hold” rating and a $90.00 target price on the stock. Finally, Morgan Stanley decreased their price target on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Skyworks Solutions presently has a consensus rating of “Hold” and an average target price of $101.00.

Skyworks Solutions Trading Down 0.5 %

SWKS opened at $83.56 on Wednesday. The company has a fifty day moving average price of $94.50 and a two-hundred day moving average price of $100.13. Skyworks Solutions, Inc. has a 1-year low of $82.13 and a 1-year high of $120.86. The company has a market cap of $13.35 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 1.53 and a beta of 1.21. The company has a current ratio of 3.01, a quick ratio of 2.19 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company posted $1.95 EPS. The firm’s revenue was down 15.9% compared to the same quarter last year. Analysts predict that Skyworks Solutions, Inc. will post 5.39 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions’s payout ratio is 75.68%.

Insider Buying and Selling

In related news, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the transaction, the senior vice president now owns 27,026 shares of the company’s stock, valued at $2,638,548.38. The trade was a 27.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the transaction, the senior vice president now owns 15,960 shares in the company, valued at approximately $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,841 shares of company stock worth $3,034,265 in the last ninety days. Corporate insiders own 0.35% of the company’s stock.

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.