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

Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $87.04, but opened at $84.78. Skyworks Solutions shares last traded at $83.95, with a volume of 1,112,340 shares trading hands.

Specifically, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the sale, the senior vice president now directly owns 15,960 shares in the company, valued at $1,404,639.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert John Terry sold 1,821 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $90.16, for a total transaction of $164,181.36. Following the completion of the sale, the senior vice president now owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SWKS. JPMorgan Chase & Co. cut their price target on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday. Citigroup cut their price target on shares of Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating for the company in a research note on Wednesday. B. Riley cut their price target on shares of Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Rosenblatt Securities raised their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $101.59.

Skyworks Solutions Trading Down 4.4 %

The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16. The firm has a market cap of $13.29 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 3.95 and a beta of 1.21. The business’s fifty day moving average is $95.79 and its two-hundred day moving average is $100.49.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.73%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business posted $1.95 earnings per share. Skyworks Solutions’s revenue for the quarter was down 15.9% compared to the same quarter last year. Equities analysts anticipate that Skyworks Solutions, Inc. will post 5.39 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.37%. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

Institutional Trading of Skyworks Solutions

Institutional investors have recently bought and sold shares of the business. Rothschild Investment LLC acquired a new stake in Skyworks Solutions during the 2nd quarter worth $27,000. Innealta Capital LLC bought a new position in shares of Skyworks Solutions during the second quarter worth $27,000. Blue Trust Inc. boosted its position in shares of Skyworks Solutions by 79.7% during the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 149 shares in the last quarter. Investors Research Corp boosted its position in shares of Skyworks Solutions by 167.7% during the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 213 shares in the last quarter. Finally, Matrix Trust Co bought a new position in shares of Skyworks Solutions during the third quarter worth $39,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.