Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Sold by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC trimmed its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 49.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,052 shares of the semiconductor manufacturer’s stock after selling 26,584 shares during the period. Soltis Investment Advisors LLC’s holdings in Skyworks Solutions were worth $2,672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Forsta AP Fonden grew its stake 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 valued at $3,674,000 after acquiring an additional 7,900 shares in the last quarter. Versor Investments LP grew its stake in Skyworks Solutions by 115.3% during the 3rd quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock valued at $1,966,000 after purchasing an additional 10,658 shares in the last quarter. Van ECK Associates Corp increased its holdings in 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 purchasing an additional 325,672 shares during the last quarter. M&G Plc acquired a new position in shares of Skyworks Solutions in the 2nd quarter valued at approximately $797,000. Finally, Captrust Financial Advisors boosted its stake in shares of Skyworks Solutions by 20.2% during the 3rd quarter. Captrust Financial Advisors now owns 36,603 shares of the semiconductor manufacturer’s stock valued at $3,615,000 after buying an additional 6,151 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Stock Down 2.3 %

Shares of Skyworks Solutions stock opened at $87.64 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. Skyworks Solutions, Inc. has a 1-year low of $82.13 and a 1-year high of $120.86. The business’s fifty day moving average price is $91.01 and its two-hundred day moving average price is $99.49. The company has a market capitalization of $14.02 billion, a P/E ratio of 23.69, a PEG ratio of 1.94 and a beta of 1.19.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company’s revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.95 earnings per share. As a group, research analysts forecast that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a yield of 3.19%. Skyworks Solutions’s payout ratio is 75.68%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SWKS. Mizuho cut their price target on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Susquehanna cut their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. B. Riley decreased their price target on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Piper Sandler decreased their target price on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Barclays dropped their price target on Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 13th. Three investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $101.00.

Insiders Place Their Bets

In related news, SVP Carlos S. Bori sold 10,177 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares in the company, valued at $1,404,639.60. This represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,841 shares of company stock worth $3,034,265 over the last ninety days. Company insiders own 0.35% of the company’s stock.

Skyworks Solutions Profile

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.