Orrstown Financial Services Inc. reduced its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 7.5% during the second quarter, Holdings Channel reports. The firm owned 17,378 shares of the semiconductor manufacturer’s stock after selling 1,411 shares during the period. Skyworks Solutions makes up approximately 1.8% of Orrstown Financial Services Inc.’s holdings, making the stock its 8th largest position. Orrstown Financial Services Inc.’s holdings in Skyworks Solutions were worth $1,667,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of SWKS. Thrivent Financial for Lutherans raised its position in shares of Skyworks Solutions by 4.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,410 shares of the semiconductor manufacturer’s stock worth $479,000 after buying an additional 260 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Skyworks Solutions by 25.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,144,467 shares of the semiconductor manufacturer’s stock worth $85,447,000 after buying an additional 233,163 shares during the last quarter. USA Financial Portformulas Corp purchased a new position in shares of Skyworks Solutions during the fourth quarter worth about $1,369,000. Teachers Advisors LLC raised its position in shares of Skyworks Solutions by 24.7% in the fourth quarter. Teachers Advisors LLC now owns 464,483 shares of the semiconductor manufacturer’s stock worth $34,678,000 after buying an additional 92,102 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in shares of Skyworks Solutions during the fourth quarter worth about $1,007,000. 81.27% of the stock is owned by institutional investors and hedge funds.
Shares of Skyworks Solutions, Inc. (NASDAQ SWKS) traded down 0.66% during mid-day trading on Monday, hitting $103.30. The company had a trading volume of 1,692,641 shares. The company has a market capitalization of $19.06 billion, a P/E ratio of 21.29 and a beta of 0.81. The firm’s 50-day moving average price is $104.22 and its 200 day moving average price is $94.94. Skyworks Solutions, Inc. has a one year low of $62.40 and a one year high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, April 27th. The semiconductor manufacturer reported $1.33 EPS for the quarter, beating the consensus estimate of $1.30 by $0.03. The business had revenue of $851.70 million for the quarter, compared to analysts’ expectations of $840.43 million. Skyworks Solutions had a net margin of 27.27% and a return on equity of 28.00%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. Analysts predict that Skyworks Solutions, Inc. will post $6.32 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on SWKS shares. Vetr raised Skyworks Solutions from a “hold” rating to a “buy” rating and set a $113.68 price target for the company in a research note on Monday, June 12th. Craig Hallum increased their price target on Skyworks Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Pacific Crest raised Skyworks Solutions from a “sector weight” rating to an “overweight” rating and set a $120.00 price target for the company in a research note on Tuesday, April 4th. BidaskClub lowered Skyworks Solutions from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Finally, Argus started coverage on Skyworks Solutions in a research note on Thursday, July 6th. They set a “buy” rating and a $120.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Skyworks Solutions has an average rating of “Buy” and a consensus target price of $102.92.
In related news, insider Liam Griffin sold 21,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $100.25, for a total value of $2,105,250.00. Following the sale, the insider now directly owns 74,782 shares of the company’s stock, valued at approximately $7,496,895.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David J. Aldrich sold 47,475 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $102.00, for a total transaction of $4,842,450.00. Following the completion of the sale, the insider now directly owns 191,731 shares in the company, valued at $19,556,562. The disclosure for this sale can be found here. Insiders sold a total of 93,458 shares of company stock worth $9,512,091 over the last ninety days. 0.49% of the stock is currently owned by insiders.
Skyworks Solutions Company Profile
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
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