Raymond James & Associates Sells 3,066 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Raymond James & Associates decreased its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,005 shares of the semiconductor manufacturer’s stock after selling 3,066 shares during the quarter. Raymond James & Associates’ holdings in Skyworks Solutions were worth $5,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. raised its holdings in shares of Skyworks Solutions by 3.5% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,912 shares of the semiconductor manufacturer’s stock valued at $584,000 after purchasing an additional 200 shares in the last quarter. Blue Trust Inc. boosted its holdings in Skyworks Solutions by 292.9% in the 3rd quarter. Blue Trust Inc. now owns 1,320 shares of the semiconductor manufacturer’s stock worth $141,000 after buying an additional 984 shares during the last quarter. Capital Investment Advisors LLC purchased a new stake in Skyworks Solutions during the 3rd quarter worth approximately $7,871,000. Net Worth Advisory Group acquired a new position in shares of Skyworks Solutions during the third quarter valued at approximately $247,000. Finally, Inspire Advisors LLC lifted its position in shares of Skyworks Solutions by 81.7% in the third quarter. Inspire Advisors LLC now owns 10,215 shares of the semiconductor manufacturer’s stock valued at $1,009,000 after acquiring an additional 4,592 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Skyworks Solutions Stock Down 2.7 %

Shares of SWKS opened at $87.58 on Friday. Skyworks Solutions, Inc. has a 52 week low of $85.06 and a 52 week high of $120.86. The firm has a market capitalization of $13.99 billion, a P/E ratio of 18.06, a P/E/G ratio of 4.32 and a beta of 1.20. The company has a 50-day simple moving average of $99.50 and a 200-day simple moving average of $101.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 5.75.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share 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 business had revenue of $905.50 million for the quarter, compared to analyst estimates of $900.41 million. The firm’s revenue was down 15.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 EPS. On average, equities research analysts expect that Skyworks Solutions, Inc. will post 5.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Reza Kasnavi sold 1,843 shares of the company’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 transaction of $198,067.21. Following the transaction, the senior vice president now directly owns 17,455 shares in the company, valued at approximately $1,875,888.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $97.63, for a total value of $993,580.51. Following the completion of the sale, the senior vice president now directly owns 27,026 shares of the company’s stock, valued at $2,638,548.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Reza Kasnavi sold 1,843 shares of the company’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 transaction of $198,067.21. Following the completion of the sale, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at $1,875,888.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,341 shares of company stock valued at $2,142,110. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SWKS shares. Craig Hallum increased their price objective 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. TD Cowen lifted their price objective on Skyworks Solutions from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group upgraded Skyworks Solutions to a “hold” rating in a report on Wednesday, July 31st. Rosenblatt Securities lifted their price target on Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus upped their price objective on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Skyworks Solutions currently has a consensus rating of “Hold” and a consensus price target of $109.88.

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.