Centric Wealth Management Acquires 1,107 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Centric Wealth Management increased its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 5.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,644 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,107 shares during the quarter. Centric Wealth Management’s holdings in Skyworks Solutions were worth $1,868,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Forsta AP Fonden boosted its position in shares of Skyworks Solutions by 27.0% during the third quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer’s stock worth $3,674,000 after buying an additional 7,900 shares during the period. Versor Investments LP boosted its position in Skyworks Solutions by 115.3% during the 3rd quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock worth $1,966,000 after acquiring an additional 10,658 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Skyworks Solutions by 25.3% during the 3rd quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock worth $152,915,000 after acquiring an additional 325,672 shares in the last quarter. M&G Plc bought a new position in shares of Skyworks Solutions during the 2nd quarter worth approximately $797,000. Finally, Cetera Investment Advisers raised its holdings in shares of Skyworks Solutions by 472.5% in the first quarter. Cetera Investment Advisers now owns 43,084 shares of the semiconductor manufacturer’s stock valued at $4,667,000 after purchasing an additional 35,558 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SWKS has been the subject of several recent research reports. Piper Sandler reduced their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Craig Hallum lowered their target price on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Morgan Stanley reduced their price target on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 13th. Mizuho decreased their target price on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Finally, Citigroup decreased their price objective on shares of Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating for the company in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Trading Up 0.6 %

Shares of Skyworks Solutions stock opened at $86.80 on Friday. The firm’s 50-day moving average price is $92.90 and its two-hundred day moving average price is $99.80. The company has a market capitalization of $13.88 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 1.92 and a beta of 1.21. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 12-month low of $82.13 and a 12-month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm posted $1.95 earnings per share. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. On average, analysts forecast that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

Insiders Place Their Bets

In other news, SVP Carlos S. Bori sold 10,177 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the completion of the transaction, the senior vice president now owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert John Terry sold 10,522 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the sale, the senior vice president now directly owns 15,960 shares in the company, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,841 shares of company stock valued at $3,034,265. 0.34% of the stock is currently owned by corporate 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.