Eastern Bank Takes $75,000 Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Eastern Bank acquired a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 755 shares of the semiconductor manufacturer’s stock, valued at approximately $75,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas bought a new stake in shares of Skyworks Solutions during the 1st quarter worth about $27,000. Rothschild Investment LLC bought a new stake in shares of Skyworks Solutions during the 2nd quarter worth about $27,000. Innealta Capital LLC bought a new stake in shares of Skyworks Solutions during the 2nd quarter worth about $27,000. Access Investment Management LLC acquired a new stake in Skyworks Solutions in the 1st quarter worth about $31,000. Finally, Blue Trust Inc. raised its stake in Skyworks Solutions by 79.7% in the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Stock Performance

SWKS opened at $95.20 on Friday. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average price is $100.26 and its two-hundred day moving average price is $101.50. Skyworks Solutions, Inc. has a 1-year low of $85.06 and a 1-year high of $120.86. The company has a market cap of $15.21 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 4.34 and a beta of 1.20.

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

Skyworks Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.94%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s dividend payout ratio is currently 57.73%.

Analysts Set New Price Targets

SWKS has been the subject of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Susquehanna dropped their target price on shares of Skyworks Solutions from $125.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, October 21st. Barclays cut shares of Skyworks Solutions from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $115.00 to $87.00 in a research report on Thursday, October 10th. Craig Hallum boosted their target price on shares of Skyworks Solutions from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler dropped their target price on shares of Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $109.88.

Insider Activity at Skyworks Solutions

In related news, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,638,548.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Skyworks Solutions news, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction dated 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 in the company, valued at $2,638,548.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Carlos S. Bori sold 9,321 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the transaction, the senior vice president now owns 37,203 shares of the company’s stock, valued at $3,793,589.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,341 shares of company stock worth $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.