Envestnet Asset Management Inc. Sells 47,001 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Envestnet Asset Management Inc. decreased its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 15.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,104 shares of the semiconductor manufacturer’s stock after selling 47,001 shares during the period. Envestnet Asset Management Inc. owned 0.16% of Skyworks Solutions worth $27,935,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SWKS. Sequoia Financial Advisors LLC lifted its holdings in shares of Skyworks Solutions by 4.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock worth $239,000 after acquiring an additional 87 shares during the last quarter. HB Wealth Management LLC boosted its stake in Skyworks Solutions by 3.0% during the 1st quarter. HB Wealth Management LLC now owns 3,219 shares of the semiconductor manufacturer’s stock valued at $349,000 after purchasing an additional 94 shares during the last quarter. Lcnb Corp increased its holdings in Skyworks Solutions by 2.4% in the 4th quarter. Lcnb Corp now owns 4,355 shares of the semiconductor manufacturer’s stock worth $490,000 after buying an additional 100 shares in the last quarter. AlphaMark Advisors LLC grew its position in Skyworks Solutions by 14.8% in the 2nd quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock worth $83,000 after purchasing an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Skyworks Solutions by 0.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock worth $1,468,000 after acquiring an additional 100 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Stock Down 1.7 %

NASDAQ:SWKS opened at $97.76 on Friday. Skyworks Solutions, Inc. has a one year low of $85.06 and a one year high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 5.75. The company has a market capitalization of $15.69 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 4.56 and a beta of 1.21. The stock has a 50-day simple moving average of $106.72 and a 200 day simple moving average of $103.00.

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

Skyworks Solutions Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SWKS. Rosenblatt Securities upped their price target on Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. TD Cowen lifted their target price on Skyworks Solutions from $90.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Skyworks Solutions from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler reiterated a “neutral” rating and issued a $115.00 target price (up from $95.00) on shares of Skyworks Solutions in a report on Wednesday, July 31st. Finally, B. Riley upgraded Skyworks Solutions from a “neutral” rating to a “buy” rating and lifted their price target for the company from $96.00 to $130.00 in a report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Skyworks Solutions has a consensus rating of “Hold” and a consensus price target of $114.18.

Insider Buying and Selling

In other news, VP Philip Matthew Carter sold 452 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $110.00, for a total value of $49,720.00. Following the completion of the sale, the vice president now owns 9,564 shares of the company’s stock, valued at $1,052,040. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Skyworks Solutions news, SVP Carlos S. Bori sold 9,321 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the sale, the senior vice president now owns 37,203 shares in the company, valued at approximately $3,793,589.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $49,720.00. Following the transaction, the vice president now directly owns 9,564 shares of the company’s stock, valued at $1,052,040. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,068 shares of company stock valued at $1,252,490. 0.34% of the stock is owned by corporate insiders.

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.