Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
4K characters. Original on sec.gov · Markdown
Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
MARKET INFORMATION
Our common stock is traded on the NASDAQ Global Select Market under the symbol “SWKS”. The following table sets forth the range of high and low closing prices for our common stock for the periods indicated, as reported by the NASDAQ Global Select Market. The number of stockholders of record of Skyworks’ common stock as of November 14, 2014 was 23,496.
| Fiscal Years Ended | |||||||||||||||
| October 3, 2014 | September 27, 2013 | ||||||||||||||
| High | Low | High | Low | ||||||||||||
| First quarter | $ | 28.43 | $ | 23.71 | $ | 24.08 | $ | 19.80 | |||||||
| Second quarter | 39.27 | 27.40 | 24.97 | 20.30 | |||||||||||
| Third quarter | 48.34 | 34.90 | 23.95 | 20.15 | |||||||||||
| Fourth quarter | 58.84 | 46.34 | 26.33 | 20.99 |
DIVIDENDS
The Company paid a total of $41.4 million in dividends during fiscal 2014. On November 6, 2014, the board of directors declared a cash dividend of $0.13 per share of common stock, an increase over the dividend from the prior quarter, payable on December 11, 2014 to stockholders of record as of November 18, 2014. We intend to continue to pay quarterly dividends subject to capital availability and our view that cash dividends are in the best interests of our stockholders. Future dividends may be affected by, among other items, our views on potential future capital requirements, including those relating to research and development, creation and expansion of sales distribution channels and investments and acquisitions, legal risks, stock repurchase programs, debt issuance, changes in federal and state income tax law and changes to our business model.
ISSUER PURCHASES OF EQUITY SECORITIES
The following table provides information regarding repurchases of common stock made during the fiscal quarter ended October 3, 2014:
| Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1) | Maximum Number (or Approximately Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (1) |
| 6/28/14-7/25/14 | 5,249 | $49.82 | — | $109.7 million |
| 7/26/14-8/29/14 | 877,666(2) | $52.60 | 875,000 | $63.9 million |
| 8/30/14-10/3/14 | 35,777 | $56.50 | — | $63.9 million |
(1) The share repurchase program approved by the Board of Directors on July 16, 2013, authorizes the repurchase of up to $250.0 million of our common stock from time to time on the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements. The share repurchase program is scheduled to expire on July 16, 2015.
(2) We repurchased 875,000 shares of common stock at an average price of $52.60 from July 26, 2014 to August 29, 2014 as part of our share repurchase program and 2,666 shares were withheld for tax obligations under restricted stock agreements with an average price of $53.99.
On November 11, 2014, the Board of Directors approved a new share repurchase program, pursuant to which we are authorized to repurchase up to $300.0 million of our common stock from time to time on the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements. The repurchase program is set to expire on November 11, 2016; however, it may be suspended, discontinued or extended by the Board of Directors at any time prior to its expiration on November 11, 2016. This authorized stock repurchase program replaced in its entirety the July 16, 2013 stock repurchase program. These repurchase programs have been and will be funded with our working capital.
Previous: Item 4. MINE SAFETY DISCLOSURES. · Next: Item 6. SELECTED FINANCIAL DATA.