Montrusco Bolton Investments Inc. raised its holdings in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 33.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,609 shares of the semiconductor manufacturer’s stock after buying an additional 33,612 shares during the quarter. Montrusco Bolton Investments Inc. owned about 0.07% of Skyworks Solutions worth $12,093,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Quad Cities Investment Group LLC purchased a new stake in shares of Skyworks Solutions in the second quarter valued at about $102,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Skyworks Solutions in the second quarter valued at about $101,000. NEXT Financial Group Inc purchased a new stake in shares of Skyworks Solutions in the third quarter valued at about $108,000. Peak Capital Management LLC purchased a new stake in shares of Skyworks Solutions in the second quarter valued at about $136,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Skyworks Solutions in the second quarter valued at about $147,000. 80.79% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on SWKS. Zacks Investment Research lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Monday. BidaskClub raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Morgan Stanley dropped their price objective on shares of Skyworks Solutions from $80.00 to $79.00 and set an “underweight” rating for the company in a report on Wednesday, October 3rd. ValuEngine raised shares of Skyworks Solutions from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $118.00 price objective on shares of Skyworks Solutions in a report on Tuesday, August 7th. Four analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $114.78.
In other news, Director David J. Aldrich sold 5,500 shares of the stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $90.48, for a total transaction of $497,640.00. Following the sale, the director now owns 147,752 shares of the company’s stock, valued at $13,368,600.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Aldrich sold 10,000 shares of the stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $93.03, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 48,500 shares of company stock worth $4,495,380 in the last three months. Corporate insiders own 0.47% of the company’s stock.
NASDAQ SWKS opened at $88.52 on Wednesday. Skyworks Solutions Inc has a 12 month low of $83.05 and a 12 month high of $117.65. The stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 1.00 and a beta of 0.60.
Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Thursday, July 19th. The semiconductor manufacturer reported $1.64 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.04. Skyworks Solutions had a net margin of 23.78% and a return on equity of 30.31%. The company had revenue of $894.30 million for the quarter, compared to analysts’ expectations of $889.00 million. During the same quarter in the prior year, the company posted $1.57 earnings per share. Skyworks Solutions’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts forecast that Skyworks Solutions Inc will post 6.61 EPS for the current fiscal year.
About Skyworks Solutions
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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