Thoroughbred Financial Services LLC Acquires New Shares in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Thoroughbred Financial Services LLC acquired a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) in the second quarter, according to its most recent filing with the SEC. The fund acquired 2,159 shares of the semiconductor manufacturer’s stock, valued at approximately $230,000.

A number of other hedge funds have also bought and sold shares of the business. Duality Advisers LP purchased a new position in shares of Skyworks Solutions during the 1st quarter valued at $1,517,000. State of Tennessee Treasury Department grew its position in shares of Skyworks Solutions by 152.8% during the 4th quarter. State of Tennessee Treasury Department now owns 118,960 shares of the semiconductor manufacturer’s stock valued at $13,373,000 after purchasing an additional 71,899 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of Skyworks Solutions during the 4th quarter valued at $10,053,000. Brookstone Capital Management purchased a new position in shares of Skyworks Solutions during the 1st quarter valued at $262,000. Finally, FIL Ltd grew its position in shares of Skyworks Solutions by 2.4% during the 4th quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after purchasing an additional 64,389 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SWKS has been the subject of a number of recent analyst reports. B. Riley upgraded shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and boosted their price target for the company from $96.00 to $130.00 in a research report on Thursday, June 20th. The Goldman Sachs Group raised shares of Skyworks Solutions to a “hold” rating in a report on Wednesday, July 31st. Robert W. Baird lifted their price objective on shares of Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Rosenblatt Securities lifted their price objective on shares of Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus lifted their price objective on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Skyworks Solutions has a consensus rating of “Hold” and an average price target of $113.94.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total value of $49,720.00. Following the sale, the vice president now owns 9,564 shares in the company, valued at $1,052,040. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total value of $49,720.00. Following the sale, the vice president now owns 9,564 shares in the company, valued at $1,052,040. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the completion of the sale, the senior vice president now owns 37,203 shares in the company, valued at approximately $3,793,589.91. The disclosure for this sale can be found here. Insiders have sold 12,068 shares of company stock worth $1,252,490 over the last 90 days. 0.34% of the stock is owned by company insiders.

Skyworks Solutions Stock Performance

Shares of NASDAQ:SWKS opened at $96.75 on Wednesday. Skyworks Solutions, Inc. has a 12 month low of $85.06 and a 12 month high of $120.86. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $107.71 and a 200-day moving average price of $103.17. The company has a market cap of $15.52 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 4.71 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The company had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $900.41 million. During the same quarter in the previous year, the company earned $1.50 earnings per share. Skyworks Solutions’s quarterly revenue was down 15.5% on a year-over-year basis. As a group, equities analysts anticipate that Skyworks Solutions, Inc. will post 5.21 EPS for the current year.

Skyworks Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.89%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s payout ratio is currently 52.63%.

About Skyworks Solutions

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.