Baupost Group LLC MA Buys Shares of 703,865 Skyworks Solutions, Inc. (NASDAQ:SWKS)

Baupost Group LLC MA bought a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) during the first quarter, HoldingsChannel.com reports. The firm bought 703,865 shares of the semiconductor manufacturer’s stock, valued at approximately $83,042,000. Skyworks Solutions accounts for approximately 1.4% of Baupost Group LLC MA’s portfolio, making the stock its 16th biggest holding.

A number of other large investors have also recently modified their holdings of SWKS. Vanguard Group Inc. lifted its stake in shares of Skyworks Solutions by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 18,027,044 shares of the semiconductor manufacturer’s stock valued at $2,402,644,000 after acquiring an additional 94,095 shares during the last quarter. FMR LLC lifted its stake in shares of Skyworks Solutions by 126.4% in the 1st quarter. FMR LLC now owns 4,239,904 shares of the semiconductor manufacturer’s stock valued at $500,224,000 after acquiring an additional 2,367,141 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Skyworks Solutions by 74.9% in the 4th quarter. Victory Capital Management Inc. now owns 4,160,288 shares of the semiconductor manufacturer’s stock valued at $379,127,000 after acquiring an additional 1,781,488 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Skyworks Solutions by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 3,475,826 shares of the semiconductor manufacturer’s stock valued at $316,205,000 after acquiring an additional 28,271 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Skyworks Solutions by 15.0% in the 4th quarter. Lazard Asset Management LLC now owns 3,285,893 shares of the semiconductor manufacturer’s stock valued at $299,442,000 after acquiring an additional 428,364 shares during the last quarter. Institutional investors and hedge funds own 81.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SWKS shares. BMO Capital Markets cut Skyworks Solutions from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $140.00 to $100.00 in a research note on Tuesday, May 9th. Morgan Stanley raised their target price on Skyworks Solutions from $104.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. UBS Group lowered their target price on Skyworks Solutions from $110.00 to $105.00 in a research report on Tuesday, May 9th. Argus lowered their price objective on Skyworks Solutions from $160.00 to $140.00 in a research report on Wednesday, May 10th. Finally, StockNews.com raised Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.27.

Skyworks Solutions Stock Performance

Shares of NASDAQ:SWKS traded up $0.94 during mid-day trading on Monday, reaching $109.68. The company had a trading volume of 933,400 shares, compared to its average volume of 1,787,338. The company has a current ratio of 3.83, a quick ratio of 2.31 and a debt-to-equity ratio of 0.23. The firm has a market cap of $17.48 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 0.98 and a beta of 1.28. The company’s 50-day moving average price is $109.60 and its 200-day moving average price is $108.90. Skyworks Solutions, Inc. has a one year low of $76.16 and a one year high of $123.69.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Monday, August 7th. The semiconductor manufacturer reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.30. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Skyworks Solutions had a net margin of 20.97% and a return on equity of 23.89%. Skyworks Solutions’s revenue was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 EPS. As a group, equities research analysts anticipate that Skyworks Solutions, Inc. will post 7.45 EPS for the current fiscal year.

Skyworks Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Tuesday, August 29th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Monday, August 28th. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.62. Skyworks Solutions’s payout ratio is 41.91%.

Insider Buying and Selling

In other Skyworks Solutions news, SVP Reza Kasnavi sold 900 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $105.38, for a total transaction of $94,842.00. Following the sale, the senior vice president now owns 16,094 shares of the company’s stock, valued at approximately $1,695,985.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Skyworks Solutions news, CFO Kris Sennesael sold 40,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $106.28, for a total transaction of $4,251,200.00. Following the sale, the chief financial officer now owns 87,823 shares of the company’s stock, valued at approximately $9,333,828.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Reza Kasnavi sold 900 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $105.38, for a total transaction of $94,842.00. Following the sale, the senior vice president now directly owns 16,094 shares in the company, valued at approximately $1,695,985.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,962 shares of company stock valued at $6,225,401. 0.31% of the stock is owned by company insiders.

Skyworks Solutions Company 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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.