Skyworks Solutions (NASDAQ:SWKS) Shares Gap Down Following Insider Selling

Skyworks Solutions, Inc. (NASDAQ:SWKS) shares gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $102.47, but opened at $100.07. Skyworks Solutions shares last traded at $98.85, with a volume of 71,943 shares traded.

Specifically, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 37,203 shares of the company’s stock, valued at $3,793,589.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

SWKS has been the topic of several recent analyst reports. Craig Hallum boosted their target price on shares of Skyworks Solutions from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Piper Sandler reiterated a “neutral” rating and set a $115.00 target price (up from $95.00) on shares of Skyworks Solutions in a report on Wednesday, July 31st. Barclays boosted their price objective on Skyworks Solutions from $85.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Bank of America raised their target price on shares of Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Skyworks Solutions has an average rating of “Hold” and a consensus target price of $113.94.

Skyworks Solutions Price Performance

The firm has a market capitalization of $15.60 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 4.71 and a beta of 1.21. The company has a fifty day moving average price of $107.71 and a two-hundred day moving average price of $103.17. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16.

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

Skyworks Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.88%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, August 20th. Skyworks Solutions’s payout ratio is 52.63%.

Hedge Funds Weigh In On Skyworks Solutions

A number of large investors have recently modified their holdings of the business. Duality Advisers LP acquired a new stake in Skyworks Solutions in the first quarter valued at $1,517,000. State of Tennessee Treasury Department lifted its holdings in shares of Skyworks Solutions by 152.8% in the fourth quarter. State of Tennessee Treasury Department now owns 118,960 shares of the semiconductor manufacturer’s stock valued at $13,373,000 after purchasing an additional 71,899 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of Skyworks Solutions in the fourth quarter valued at approximately $10,053,000. Brookstone Capital Management purchased a new position in shares of Skyworks Solutions during the 1st quarter worth approximately $262,000. Finally, FIL Ltd increased its position in Skyworks Solutions by 2.4% during the fourth 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 in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

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.