Canandaigua National Bank & Trust Co. Acquires 725 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Canandaigua National Bank & Trust Co. lifted its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,575 shares of the semiconductor manufacturer’s stock after purchasing an additional 725 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Skyworks Solutions were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SWKS. Symmetry Partners LLC purchased a new stake in Skyworks Solutions during the 2nd quarter valued at $216,000. Guinness Asset Management LTD lifted its holdings in Skyworks Solutions by 3.3% in the second quarter. Guinness Asset Management LTD now owns 4,962 shares of the semiconductor manufacturer’s stock valued at $529,000 after acquiring an additional 159 shares during the period. Valeo Financial Advisors LLC purchased a new position in Skyworks Solutions in the second quarter worth about $205,000. CGN Advisors LLC grew its stake in shares of Skyworks Solutions by 8.5% during the 2nd quarter. CGN Advisors LLC now owns 26,510 shares of the semiconductor manufacturer’s stock valued at $2,825,000 after purchasing an additional 2,081 shares during the period. Finally, CWM LLC lifted its stake in shares of Skyworks Solutions by 19.0% in the 2nd quarter. CWM LLC now owns 6,820 shares of the semiconductor manufacturer’s stock worth $727,000 after purchasing an additional 1,089 shares during the period. 85.43% of the stock is owned by institutional investors.

Skyworks Solutions Trading Down 0.9 %

Shares of NASDAQ:SWKS traded down $0.91 during trading on Friday, hitting $101.87. The company had a trading volume of 559,531 shares, compared to its average volume of 2,514,098. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 4.66 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29. The company has a fifty day simple moving average of $106.23 and a two-hundred day simple moving average of $103.20. Skyworks Solutions, Inc. has a one year low of $85.06 and a one year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The business 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 business posted $1.50 earnings per share. The business’s revenue was down 15.5% compared to the same quarter last year. As a group, equities analysts forecast that Skyworks Solutions, Inc. will post 5.21 earnings per share for the current year.

Skyworks Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be given a $0.70 dividend. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Tuesday, August 20th. Skyworks Solutions’s dividend payout ratio is 51.13%.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, Director Robert A. Schriesheim sold 25,433 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $90.27, for a total value of $2,295,836.91. Following the transaction, the director now owns 60,881 shares of the company’s stock, valued at approximately $5,495,727.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total value of $54,240.00. Following the completion of the sale, the vice president now directly owns 9,112 shares in the company, valued at approximately $1,093,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert A. Schriesheim sold 25,433 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total value of $2,295,836.91. Following the transaction, the director now owns 60,881 shares in the company, valued at approximately $5,495,727.87. The disclosure for this sale can be found here. Insiders sold 26,337 shares of company stock worth $2,399,797 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SWKS shares. Stifel Nicolaus boosted their target price on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wolfe Research lowered Skyworks Solutions from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 9th. Wells Fargo & Company lowered their target price on Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 1st. Craig Hallum raised their price objective on Skyworks Solutions from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler reiterated a “neutral” rating and set a $115.00 price objective (up from $95.00) on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $113.94.

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.