Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 48.4% in the third quarter, HoldingsChannel.com reports. The firm owned 19,954 shares of the semiconductor manufacturer’s stock after selling 18,728 shares during the quarter. Intech Investment Management LLC’s holdings in Skyworks Solutions were worth $1,971,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new stake in shares of Skyworks Solutions during the 2nd quarter valued at approximately $27,000. Innealta Capital LLC purchased a new stake in Skyworks Solutions during the second quarter worth $27,000. Blue Trust Inc. grew its holdings in Skyworks Solutions by 79.7% in the second 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 last quarter. Matrix Trust Co purchased a new position in shares of Skyworks Solutions in the third quarter valued at $39,000. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Skyworks Solutions in the third quarter valued at $40,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Price Performance

SWKS opened at $85.41 on Monday. Skyworks Solutions, Inc. has a 52-week low of $82.13 and a 52-week high of $120.86. The company has a 50 day moving average of $93.49 and a two-hundred day moving average of $99.96. The company has a market cap of $13.66 billion, a P/E ratio of 23.08, a P/E/G ratio of 1.88 and a beta of 1.21. The company has a quick ratio of 2.19, a current ratio of 5.54 and a debt-to-equity ratio of 0.16.

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

Skyworks Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be given 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 3.28%. Skyworks Solutions’s payout ratio is currently 75.68%.

Insider Activity

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 directly owns 37,203 shares in the company, valued at $3,793,589.91. The trade was a 20.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,841 shares of company stock worth $3,034,265. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler cut their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Bank of America upped their target price on Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their price target on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Citigroup reduced their price objective on Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating on the stock in a research report on Wednesday, November 13th. Finally, B. Riley dropped their price objective on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $101.00.

Skyworks Solutions Company 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.