Verity & Verity LLC Boosts Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Verity & Verity LLC increased its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 0.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 81,973 shares of the semiconductor manufacturer’s stock after acquiring an additional 671 shares during the quarter. Verity & Verity LLC’s holdings in Skyworks Solutions were worth $8,096,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Caprock Group LLC purchased a new position in Skyworks Solutions during the third quarter valued at approximately $219,000. Pathstone Holdings LLC increased its position in Skyworks Solutions by 6.8% in the third quarter. Pathstone Holdings LLC now owns 22,640 shares of the semiconductor manufacturer’s stock worth $2,236,000 after purchasing an additional 1,433 shares during the last quarter. LMR Partners LLP bought a new stake in Skyworks Solutions in the third quarter worth $8,245,000. Quest Partners LLC bought a new stake in Skyworks Solutions in the third quarter worth $41,000. Finally, Claro Advisors LLC increased its position in Skyworks Solutions by 9.2% during the third quarter. Claro Advisors LLC now owns 3,241 shares of the semiconductor manufacturer’s stock valued at $320,000 after acquiring an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. B. Riley reduced their target price on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Susquehanna reduced their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their target price on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Finally, Craig Hallum cut their price objective on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $101.00.

Insiders Place Their Bets

In other news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the sale, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. The trade was a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Carlos S. Bori sold 9,321 shares of Skyworks Solutions 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 approximately $3,793,589.91. This trade represents a 20.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,841 shares of company stock valued at $3,034,265 over the last quarter. 0.35% of the stock is owned by insiders.

Skyworks Solutions Stock Performance

SWKS opened at $83.99 on Tuesday. The company has a quick ratio of 2.19, a current ratio of 3.01 and a debt-to-equity ratio of 0.16. The company has a market cap of $13.41 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.53 and a beta of 1.21. Skyworks Solutions, Inc. has a 52-week low of $82.13 and a 52-week high of $120.86. The firm’s fifty day simple moving average is $94.82 and its two-hundred day simple moving average is $100.19.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.03. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 earnings per share. Equities analysts anticipate that Skyworks Solutions, Inc. will post 5.39 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a $0.70 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a dividend yield of 3.33%. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

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.