Abacus FCF Advisors LLC Has $2.04 Million Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Abacus FCF Advisors LLC grew its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 46.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,012 shares of the semiconductor manufacturer's stock after buying an additional 7,316 shares during the period. Abacus FCF Advisors LLC's holdings in Skyworks Solutions were worth $2,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank bought a new stake in Skyworks Solutions during the 4th quarter valued at $228,646,000. Pzena Investment Management LLC raised its stake in shares of Skyworks Solutions by 37.5% during the fourth quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer's stock valued at $499,273,000 after purchasing an additional 1,536,289 shares in the last quarter. Barclays PLC lifted its holdings in Skyworks Solutions by 96.4% in the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer's stock worth $191,023,000 after purchasing an additional 949,407 shares during the period. Wellington Management Group LLP grew its position in Skyworks Solutions by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer's stock valued at $223,994,000 after buying an additional 775,470 shares in the last quarter. Finally, KBC Group NV grew its position in Skyworks Solutions by 114.0% in the 4th quarter. KBC Group NV now owns 1,248,273 shares of the semiconductor manufacturer's stock valued at $110,697,000 after buying an additional 664,874 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Skyworks Solutions Stock Up 5.0 %

SWKS stock traded up $2.70 during midday trading on Friday, reaching $56.54. The company had a trading volume of 5,427,996 shares, compared to its average volume of 2,802,810. The company has a 50 day moving average of $65.28 and a two-hundred day moving average of $81.96. The company has a market capitalization of $8.87 billion, a P/E ratio of 17.34, a PEG ratio of 1.79 and a beta of 1.21. Skyworks Solutions, Inc. has a 1 year low of $47.93 and a 1 year high of $120.86. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. On average, equities research analysts expect that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Monday, February 24th. Skyworks Solutions's payout ratio is presently 85.89%.

Analyst Upgrades and Downgrades

SWKS has been the subject of a number of research analyst reports. B. Riley lowered shares of Skyworks Solutions from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $110.00 to $65.00 in a research note on Thursday, February 6th. Argus cut Skyworks Solutions from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Rosenblatt Securities restated a "neutral" rating and issued a $80.00 price objective (down previously from $120.00) on shares of Skyworks Solutions in a report on Thursday, February 6th. Bank of America decreased their target price on Skyworks Solutions from $88.00 to $60.00 and set an "underperform" rating for the company in a research note on Thursday, February 6th. Finally, Benchmark reiterated a "hold" rating on shares of Skyworks Solutions in a research report on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $83.78.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, CEO Philip G. Brace purchased 10,000 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were acquired at an average price of $66.13 per share, for a total transaction of $661,300.00. Following the acquisition, the chief executive officer now owns 10,000 shares of the company's stock, valued at $661,300. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company's stock.

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.