Mackay Shields LLC Trims Stake in Skyworks Solutions Inc (SWKS)

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Mackay Shields LLC trimmed its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 42.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,214 shares of the semiconductor manufacturer’s stock after selling 32,023 shares during the period. Mackay Shields LLC’s holdings in Skyworks Solutions were worth $4,177,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Global X Management Co. LLC lifted its stake in Skyworks Solutions by 19.1% during the 1st quarter. Global X Management Co. LLC now owns 65,267 shares of the semiconductor manufacturer’s stock valued at $6,544,000 after acquiring an additional 10,450 shares in the last quarter. Greenwich Wealth Management LLC lifted its stake in Skyworks Solutions by 3.6% during the 1st quarter. Greenwich Wealth Management LLC now owns 21,663 shares of the semiconductor manufacturer’s stock valued at $2,172,000 after acquiring an additional 759 shares in the last quarter. Shaker Investments LLC OH bought a new position in Skyworks Solutions during the 1st quarter valued at $291,000. FTB Advisors Inc. lifted its stake in Skyworks Solutions by 536.8% during the 1st quarter. FTB Advisors Inc. now owns 3,426 shares of the semiconductor manufacturer’s stock valued at $341,000 after acquiring an additional 2,888 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Skyworks Solutions by 2.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 41,638 shares of the semiconductor manufacturer’s stock valued at $4,175,000 after acquiring an additional 1,180 shares in the last quarter. Institutional investors own 81.42% of the company’s stock.

In related news, Director David J. Aldrich sold 10,000 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $93.03, for a total value of $930,300.00. Following the sale, the director now directly owns 152,252 shares in the company, valued at approximately $14,164,003.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.

A number of research firms have recently commented on SWKS. BidaskClub cut Skyworks Solutions from a “sell” rating to a “strong sell” rating in a research note on Friday. Zacks Investment Research upgraded Skyworks Solutions from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Wednesday, July 25th. Cowen reiterated a “hold” rating and set a $105.00 target price (up from $100.00) on shares of Skyworks Solutions in a research note on Friday, July 20th. B. Riley lifted their target price on Skyworks Solutions from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 20th. Finally, Canaccord Genuity lowered their target price on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, May 1st. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $115.26.

Shares of Skyworks Solutions stock opened at $91.85 on Monday. Skyworks Solutions Inc has a 52-week low of $86.13 and a 52-week high of $117.65. The stock has a market capitalization of $16.66 billion, a P/E ratio of 15.36, a PEG ratio of 1.03 and a beta of 0.56.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, July 19th. The semiconductor manufacturer reported $1.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.04. Skyworks Solutions had a return on equity of 30.31% and a net margin of 23.78%. The business had revenue of $894.30 million for the quarter, compared to analysts’ expectations of $889.00 million. During the same period in the previous year, the business posted $1.57 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. equities analysts anticipate that Skyworks Solutions Inc will post 6.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 28th. Investors of record on Tuesday, August 7th will be paid a $0.38 dividend. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Monday, August 6th. Skyworks Solutions’s payout ratio is currently 25.42%.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

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