M&T Bank Corp boosted its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,332 shares of the semiconductor manufacturer’s stock after purchasing an additional 846 shares during the period. M&T Bank Corp’s holdings in Skyworks Solutions were worth $2,406,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Shelton Capital Management raised its stake in Skyworks Solutions by 7.8% during the fourth quarter. Shelton Capital Management now owns 31,545 shares of the semiconductor manufacturer’s stock valued at $2,995,000 after buying an additional 2,285 shares in the last quarter. Icon Advisers Inc. Co. raised its stake in Skyworks Solutions by 91.5% during the fourth quarter. Icon Advisers Inc. Co. now owns 205,496 shares of the semiconductor manufacturer’s stock valued at $19,512,000 after buying an additional 98,176 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Skyworks Solutions by 71.5% during the fourth quarter. Teacher Retirement System of Texas now owns 293,531 shares of the semiconductor manufacturer’s stock valued at $27,871,000 after buying an additional 122,391 shares in the last quarter. Nicollet Investment Management Inc. acquired a new stake in Skyworks Solutions during the fourth quarter valued at approximately $647,000. Finally, PrairieView Partners LLC acquired a new stake in Skyworks Solutions during the fourth quarter valued at approximately $332,000. 81.22% of the stock is owned by hedge funds and other institutional investors.
Skyworks Solutions, Inc. (SWKS) opened at $104.11 on Friday. Skyworks Solutions, Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $117.65. The stock has a market capitalization of $18,950.00, a P/E ratio of 23.61, a P/E/G ratio of 1.04 and a beta of 0.69.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 22nd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Wednesday, February 21st. Skyworks Solutions’s dividend payout ratio (DPR) is 29.02%.
Skyworks Solutions declared that its Board of Directors has initiated a share repurchase plan on Monday, February 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Several analysts have issued reports on the company. Zacks Investment Research cut Skyworks Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. UBS Group upgraded Skyworks Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, February 6th. B. Riley cut their price objective on Skyworks Solutions from $131.00 to $128.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Vetr cut Skyworks Solutions from a “sell” rating to a “strong sell” rating and set a $91.21 price objective on the stock. in a research note on Wednesday, February 7th. Finally, Canaccord Genuity upped their price objective on Skyworks Solutions from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. Skyworks Solutions has an average rating of “Buy” and a consensus target price of $115.93.
In related news, insider Peter L. Gammel sold 12,500 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $103.96, for a total value of $1,299,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Liam Griffin sold 16,250 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $109.52, for a total value of $1,779,700.00. Following the transaction, the chief executive officer now directly owns 65,397 shares of the company’s stock, valued at $7,162,279.44. The disclosure for this sale can be found here. Insiders sold a total of 82,243 shares of company stock valued at $8,337,541 over the last three months. Corporate insiders own 0.49% of the company’s stock.
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Skyworks Solutions Profile
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
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