Amalgamated Bank Buys 19,152 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Amalgamated Bank raised its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 58.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 52,146 shares of the semiconductor manufacturer’s stock after purchasing an additional 19,152 shares during the quarter. Amalgamated Bank’s holdings in Skyworks Solutions were worth $5,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BNP Paribas purchased a new stake in Skyworks Solutions during the 1st quarter valued at $27,000. Innealta Capital LLC bought a new position in shares of Skyworks Solutions during the second quarter valued at about $27,000. Rothschild Investment LLC purchased a new stake in shares of Skyworks Solutions during the second quarter worth about $27,000. Access Investment Management LLC bought a new stake in shares of Skyworks Solutions in the first quarter worth about $31,000. Finally, Blue Trust Inc. increased its holdings 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. Institutional investors own 85.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SWKS. Craig Hallum lifted their price objective on Skyworks Solutions from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $115.00 target price (up from $95.00) on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Finally, Bank of America boosted their price target on shares of Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Skyworks Solutions has an average rating of “Hold” and an average price target of $114.18.

Insider Buying and Selling at Skyworks Solutions

In other news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total transaction of $49,720.00. Following the transaction, the vice president now owns 9,564 shares in the company, valued at approximately $1,052,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Reza Kasnavi sold 1,843 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $107.47, for a total transaction of $198,067.21. Following the completion of the transaction, the senior vice president now directly owns 17,455 shares in the company, valued at approximately $1,875,888.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Philip Matthew Carter sold 452 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $110.00, for a total transaction of $49,720.00. Following the sale, the vice president now owns 9,564 shares in the company, valued at approximately $1,052,040. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,068 shares of company stock valued at $1,252,490. Insiders own 0.34% of the company’s stock.

Skyworks Solutions Price Performance

NASDAQ SWKS opened at $97.76 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29. Skyworks Solutions, Inc. has a 1-year low of $85.06 and a 1-year high of $120.86. The stock has a market capitalization of $15.69 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 4.56 and a beta of 1.21. The business’s fifty day moving average price is $107.02 and its 200-day moving average price is $103.03.

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

Skyworks Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.86%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, August 20th. Skyworks Solutions’s payout ratio is 52.63%.

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.