Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 90.8% in the third quarter, HoldingsChannel reports. The firm owned 301,785 shares of the semiconductor manufacturer’s stock after selling 2,978,434 shares during the quarter. Victory Capital Management Inc.’s holdings in Skyworks Solutions were worth $29,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in Skyworks Solutions in the second quarter valued at $27,000. Rothschild Investment LLC bought a new stake in Skyworks Solutions in the 2nd quarter valued at about $27,000. Blue Trust Inc. boosted its stake in Skyworks Solutions by 79.7% during the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 149 shares during the period. Matrix Trust Co bought a new position in Skyworks Solutions in the 3rd quarter worth about $39,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Skyworks Solutions in the third quarter valued at approximately $49,000. 85.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SWKS has been the subject of several analyst reports. The Goldman Sachs Group upgraded Skyworks Solutions to a “hold” rating in a research report on Wednesday, July 31st. Mizuho decreased their price target on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday. Rosenblatt Securities lifted their price objective on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Finally, B. Riley lowered their target price on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday. Three 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. According to MarketBeat.com, Skyworks Solutions currently has an average rating of “Hold” and an average price target of $101.00.

Skyworks Solutions Stock Performance

SWKS opened at $83.69 on Friday. The business has a fifty day simple moving average of $95.14 and a 200-day simple moving average of $100.16. The firm has a market cap of $13.37 billion, a PE ratio of 22.62, a P/E/G ratio of 1.53 and a beta of 1.21. The company has a quick ratio of 4.29, a current ratio of 3.01 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a fifty-two week low of $82.13 and a fifty-two week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. Skyworks Solutions’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the company posted $1.95 EPS. As a group, equities analysts predict that Skyworks Solutions, Inc. will post 5.39 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. Skyworks Solutions’s dividend payout ratio is currently 75.68%.

Insider Activity at Skyworks Solutions

In other news, SVP Robert John Terry sold 1,821 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $90.16, for a total value of $164,181.36. Following the transaction, the senior vice president now owns 24,567 shares in the company, valued at $2,214,960.72. This represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the completion of the sale, the senior vice president now directly owns 27,026 shares of the company’s stock, valued at $2,638,548.38. This trade represents a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,841 shares of company stock worth $3,034,265. 0.34% of the stock is 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.