First Interstate Bank Has $2.21 Million Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

First Interstate Bank decreased its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,396 shares of the semiconductor manufacturer’s stock after selling 352 shares during the quarter. First Interstate Bank’s holdings in Skyworks Solutions were worth $2,212,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SWKS. F M Investments LLC bought a new stake in Skyworks Solutions in the 3rd quarter valued at approximately $200,000. US Bancorp DE grew its stake in shares of Skyworks Solutions by 3.7% during the 3rd quarter. US Bancorp DE now owns 48,302 shares of the semiconductor manufacturer’s stock worth $4,771,000 after acquiring an additional 1,705 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Skyworks Solutions by 9.3% in the third quarter. Abich Financial Wealth Management LLC now owns 1,322 shares of the semiconductor manufacturer’s stock worth $131,000 after purchasing an additional 112 shares in the last quarter. Cavalier Investments LLC boosted its holdings in Skyworks Solutions by 6.3% during the third quarter. Cavalier Investments LLC now owns 6,956 shares of the semiconductor manufacturer’s stock worth $687,000 after purchasing an additional 414 shares during the last quarter. Finally, Valley National Advisers Inc. grew its position in Skyworks Solutions by 77.8% in the third quarter. Valley National Advisers Inc. now owns 23,266 shares of the semiconductor manufacturer’s stock valued at $2,297,000 after purchasing an additional 10,182 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SWKS has been the topic of several analyst reports. Piper Sandler cut their price target on shares of Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Robert W. Baird upped their target price on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Susquehanna lowered their price target on Skyworks Solutions from $125.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Finally, B. Riley cut their price objective on Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Skyworks Solutions has a consensus rating of “Hold” and a consensus target price of $109.88.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock traded up $1.33 on Friday, hitting $88.91. The stock had a trading volume of 2,106,410 shares, compared to its average volume of 1,941,196. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 3.97 and a beta of 1.21. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a twelve month low of $85.74 and a twelve month high of $120.86. The business’s 50 day moving average is $98.74 and its two-hundred day moving average is $101.12.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, meeting analysts’ consensus estimates of $1.21. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The firm had revenue of $905.50 million for the quarter, compared to analyst estimates of $900.41 million. During the same period in the prior year, the firm posted $1.50 EPS. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. Analysts forecast that Skyworks Solutions, Inc. will post 5.21 EPS for the current year.

Insider Activity

In related news, SVP Reza Kasnavi sold 1,843 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $107.47, for a total transaction of $198,067.21. Following the transaction, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Reza Kasnavi sold 1,843 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $107.47, for a total transaction of $198,067.21. Following the sale, the senior vice president now owns 17,455 shares of the company’s stock, valued at $1,875,888.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the completion of the transaction, the senior vice president now directly owns 27,026 shares of the company’s stock, valued at $2,638,548.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,341 shares of company stock valued at $2,142,110. 0.34% of the stock is owned by company insiders.

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.