Bank of New York Mellon Corp Boosts Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Bank of New York Mellon Corp grew its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) by 2.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,881,957 shares of the semiconductor manufacturer’s stock after buying an additional 52,897 shares during the period. Bank of New York Mellon Corp’s holdings in Skyworks Solutions were worth $160,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Ellevest Inc. lifted its position in shares of Skyworks Solutions by 776.5% during the third quarter. Ellevest Inc. now owns 298 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 264 shares in the last quarter. CVA Family Office LLC lifted its position in shares of Skyworks Solutions by 257.9% during the third quarter. CVA Family Office LLC now owns 340 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 245 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its position in shares of Skyworks Solutions by 51.0% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 379 shares of the semiconductor manufacturer’s stock worth $51,000 after acquiring an additional 128 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Skyworks Solutions during the second quarter worth $38,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Skyworks Solutions during the third quarter worth $36,000. Hedge funds and other institutional investors own 75.37% of the company’s stock.

Insider Transactions at Skyworks Solutions

In other news, SVP Reza Kasnavi sold 3,000 shares of the stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $120.03, for a total transaction of $360,090.00. Following the completion of the sale, the senior vice president now directly owns 16,994 shares in the company, valued at $2,039,789.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Skyworks Solutions news, SVP Karilee A. Durham sold 2,716 shares of the firm’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $110.00, for a total value of $298,760.00. Following the completion of the sale, the senior vice president now directly owns 13,428 shares in the company, valued at $1,477,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Reza Kasnavi sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $120.03, for a total transaction of $360,090.00. Following the completion of the sale, the senior vice president now owns 16,994 shares of the company’s stock, valued at $2,039,789.82. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on SWKS. KGI Securities upgraded Skyworks Solutions from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 30th. Susquehanna upgraded Skyworks Solutions from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $110.00 to $135.00 in a research report on Thursday. KeyCorp increased their price objective on Skyworks Solutions from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. Credit Suisse Group increased their price objective on Skyworks Solutions from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 7th. Finally, TheStreet upgraded Skyworks Solutions from a “c+” rating to a “b-” rating in a research report on Thursday, February 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.35.

Skyworks Solutions Stock Down 1.4 %

Shares of NASDAQ:SWKS opened at $114.07 on Friday. The stock’s 50-day moving average price is $110.83 and its 200-day moving average price is $98.43. Skyworks Solutions, Inc. has a 12-month low of $76.16 and a 12-month high of $141.26. The stock has a market capitalization of $18.13 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. The company has a current ratio of 2.79, a quick ratio of 1.75 and a debt-to-equity ratio of 0.30.

Skyworks Solutions (NASDAQ:SWKS – Get Rating) last posted its earnings results on Monday, February 6th. The semiconductor manufacturer reported $2.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.59. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. Skyworks Solutions had a net margin of 22.33% and a return on equity of 28.65%. Skyworks Solutions’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.90 earnings per share. On average, equities analysts anticipate that Skyworks Solutions, Inc. will post 8.21 earnings per share for the current year.

Skyworks Solutions declared that its board has initiated a stock buyback plan on Monday, February 6th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 11.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 21st. Stockholders of record on Tuesday, February 28th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.17%. Skyworks Solutions’s dividend payout ratio is currently 33.83%.

About Skyworks Solutions

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Skyworks Solutions, Inc engages in the design, development, and manufacture of proprietary semiconductor products. Its products include amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, receivers, switches, and technical ceramics.