Intech Investment Management LLC Lowers Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Intech Investment Management LLC trimmed its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 10.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 38,682 shares of the semiconductor manufacturer’s stock after selling 4,657 shares during the period. Intech Investment Management LLC’s holdings in Skyworks Solutions were worth $4,123,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Seven Eight Capital LP purchased a new stake in Skyworks Solutions during the 2nd quarter valued at approximately $2,968,000. Elo Mutual Pension Insurance Co increased its holdings in shares of Skyworks Solutions by 0.7% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock valued at $1,569,000 after purchasing an additional 107 shares during the period. Zega Financial LLC raised its stake in shares of Skyworks Solutions by 5.0% during the second quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock worth $224,000 after purchasing an additional 100 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Skyworks Solutions by 58.0% during the second quarter. Amalgamated Bank now owns 52,146 shares of the semiconductor manufacturer’s stock worth $5,558,000 after purchasing an additional 19,152 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in Skyworks Solutions by 11.9% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,640 shares of the semiconductor manufacturer’s stock valued at $601,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions Stock Down 1.7 %

SWKS stock 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. The company’s 50 day simple moving average is $106.72 and its 200-day simple moving average is $103.00. Skyworks Solutions, Inc. has a 12 month low of $85.06 and a 12 month high of $120.86. The firm has a market capitalization of $15.69 billion, a PE ratio of 18.38, a P/E/G ratio of 4.56 and a beta of 1.21.

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

Skyworks Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis 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 dividend payout ratio is 52.63%.

Insiders Place Their Bets

In other news, SVP Reza Kasnavi sold 1,843 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the transaction, the senior vice president now owns 17,455 shares of the company’s stock, valued at $1,875,888.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Reza Kasnavi sold 1,843 shares of Skyworks Solutions stock in a transaction on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the sale, the senior vice president now owns 17,455 shares of the company’s stock, valued at $1,875,888.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the transaction, the senior vice president now owns 37,203 shares of the company’s stock, valued at $3,793,589.91. The disclosure for this sale can be found here. Insiders have sold 12,068 shares of company stock valued at $1,252,490 in the last ninety days. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SWKS. Stifel Nicolaus upped their price objective on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $115.00 price target (up from $95.00) on shares of Skyworks Solutions in a report on Wednesday, July 31st. Craig Hallum lifted their price objective on Skyworks Solutions from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. B. Riley raised Skyworks Solutions from a “neutral” rating to a “buy” rating and increased their target price for the stock from $96.00 to $130.00 in a research note on Thursday, June 20th. Finally, Robert W. Baird raised their price target on Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $114.18.

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.