Park Place Capital Corp Sells 368 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Park Place Capital Corp lowered its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 45.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 442 shares of the semiconductor manufacturer’s stock after selling 368 shares during the quarter. Park Place Capital Corp’s holdings in Skyworks Solutions were worth $48,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Skyworks Solutions by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 18,656,578 shares of the semiconductor manufacturer’s stock valued at $2,097,372,000 after purchasing an additional 123,564 shares in the last quarter. FIL Ltd grew its position in shares of Skyworks Solutions by 2.4% in the 4th quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after buying an additional 64,389 shares during the last quarter. Pzena Investment Management LLC purchased a new position in shares of Skyworks Solutions in the 4th quarter worth approximately $302,309,000. Norges Bank purchased a new stake in Skyworks Solutions during the 4th quarter worth approximately $226,266,000. Finally, Dimensional Fund Advisors LP grew its position in Skyworks Solutions by 11.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,806,327 shares of the semiconductor manufacturer’s stock worth $203,093,000 after purchasing an additional 185,355 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Stock Performance

NASDAQ:SWKS opened at $106.40 on Tuesday. Skyworks Solutions, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $115.69. The stock has a market capitalization of $17.07 billion, a PE ratio of 20.00, a P/E/G ratio of 5.07 and a beta of 1.23. The company has a fifty day moving average of $97.51 and a two-hundred day moving average of $102.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.19.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. As a group, research analysts forecast that Skyworks Solutions, Inc. will post 5.14 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Monday, May 20th. Skyworks Solutions’s payout ratio is 51.13%.

Insider Transactions at Skyworks Solutions

In other news, Director Robert A. Schriesheim sold 25,433 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the completion of the sale, the director now owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Liam Griffin acquired 11,142 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the completion of the acquisition, the chief executive officer now owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert A. Schriesheim sold 25,433 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the completion of the sale, the director now directly owns 60,881 shares of the company’s stock, valued at approximately $5,495,727.87. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Cowen downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and dropped their target price for the stock from $125.00 to $90.00 in a research report on Wednesday, May 1st. StockNews.com downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Piper Sandler dropped their price objective on shares of Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. KeyCorp downgraded shares of Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a report on Monday, April 8th. Finally, B. Riley raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and upped their price objective for the company from $96.00 to $130.00 in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Skyworks Solutions currently has an average rating of “Hold” and a consensus target price of $107.19.

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.