Louisiana State Employees Retirement System increased its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 107.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,600 shares of the semiconductor manufacturer’s stock after buying an additional 9,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Skyworks Solutions were worth $2,691,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of SWKS. Nuveen Asset Management LLC lifted its stake in shares of Skyworks Solutions by 192.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,660,834 shares of the semiconductor manufacturer’s stock worth $340,214,000 after acquiring an additional 1,750,796 shares during the last quarter. Allianz Asset Management GmbH raised its position in Skyworks Solutions by 95.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,376,151 shares of the semiconductor manufacturer’s stock valued at $200,230,000 after purchasing an additional 670,598 shares in the last quarter. BlackRock Inc. raised its position in Skyworks Solutions by 4.7% during the 3rd quarter. BlackRock Inc. now owns 14,636,293 shares of the semiconductor manufacturer’s stock valued at $2,129,580,000 after purchasing an additional 653,069 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Skyworks Solutions during the 3rd quarter valued at $51,435,000. Finally, Haverford Trust Co. bought a new stake in Skyworks Solutions during the 3rd quarter valued at $25,625,000. 76.89% of the stock is owned by hedge funds and other institutional investors.
SWKS has been the subject of a number of research analyst reports. Mizuho lifted their target price on Skyworks Solutions from $170.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. BidaskClub raised Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, January 7th. Bank of America downgraded Skyworks Solutions from a “buy” rating to a “neutral” rating in a report on Monday. B. Riley reiterated a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Skyworks Solutions in a report on Tuesday, November 3rd. Finally, BMO Capital Markets lifted their price target on Skyworks Solutions from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 3rd. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $153.24.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Monday, November 2nd. The semiconductor manufacturer reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.33. The business had revenue of $956.60 million for the quarter, compared to the consensus estimate of $840.61 million. Skyworks Solutions had a return on equity of 20.73% and a net margin of 24.13%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 EPS. Analysts expect that Skyworks Solutions, Inc. will post 4.92 EPS for the current fiscal year.
In other news, SVP Robert John Terry sold 1,037 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $150.71, for a total value of $156,286.27. Following the completion of the transaction, the senior vice president now owns 17,926 shares of the company’s stock, valued at approximately $2,701,627.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Liam Griffin sold 12,000 shares of the business’s stock in a transaction dated Wednesday, November 18th. The shares were sold at an average price of $139.98, for a total value of $1,679,760.00. Following the completion of the transaction, the chief executive officer now directly owns 69,363 shares of the company’s stock, valued at approximately $9,709,432.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,794 shares of company stock worth $8,500,206. Company insiders own 0.40% of the company’s stock.
About Skyworks Solutions
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, 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, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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