Summit Global Investments Invests $967,000 in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Summit Global Investments bought a new position in Skyworks Solutions, Inc. (NASDAQ:SWKS) during the 4th quarter, Holdings Channel reports. The firm bought 10,906 shares of the semiconductor manufacturer’s stock, valued at approximately $967,000.

Several other institutional investors and hedge funds have also modified their holdings of SWKS. Erste Asset Management GmbH acquired a new position in Skyworks Solutions during the 3rd quarter worth $27,000. Golden State Wealth Management LLC acquired a new position in Skyworks Solutions during the 4th quarter worth $28,000. SBI Securities Co. Ltd. acquired a new position in Skyworks Solutions during the 4th quarter worth $29,000. Picton Mahoney Asset Management acquired a new position in Skyworks Solutions during the 4th quarter worth $33,000. Finally, Quest Partners LLC acquired a new position in Skyworks Solutions during the 3rd quarter worth $41,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Skyworks Solutions news, CEO Philip G. Brace acquired 10,000 shares of Skyworks Solutions stock in a transaction dated Tuesday, February 25th. The stock was bought at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the purchase, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $661,300. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS opened at $67.25 on Friday. The firm has a market cap of $10.81 billion, a PE ratio of 20.63, a PEG ratio of 1.79 and a beta of 1.18. 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, Inc. has a 1-year low of $62.01 and a 1-year high of $120.86. The company has a fifty day moving average price of $75.68 and a 200 day moving average price of $86.62.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. Research analysts predict that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.16%. 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 topic of several research reports. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a report on Thursday, February 6th. B. Riley cut shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the company from $110.00 to $65.00 in a research report on Thursday, February 6th. Morgan Stanley dropped their target price on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Bank of America dropped their target price on shares of Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating for the company in a research report on Thursday, February 6th. Finally, Argus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $83.78.

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.