Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 8.3% in the 3rd quarter, Holdings Channel reports. The fund owned 223,314 shares of the semiconductor manufacturer’s stock after selling 20,126 shares during the period. Glenmede Trust Co. NA’s holdings in Skyworks Solutions were worth $22,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Townsquare Capital LLC acquired a new stake in Skyworks Solutions during the third quarter valued at $202,000. Principal Street Partners LLC grew its position in shares of Skyworks Solutions by 796.6% during the 3rd quarter. Principal Street Partners LLC now owns 52,773 shares of the semiconductor manufacturer’s stock valued at $5,213,000 after acquiring an additional 46,887 shares during the period. Brooklyn Investment Group acquired a new position in Skyworks Solutions in the 3rd quarter worth about $164,000. FMR LLC boosted its position in Skyworks Solutions by 7.3% during the third quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer’s stock worth $265,853,000 after purchasing an additional 182,130 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Skyworks Solutions by 3.1% in the third quarter. The Manufacturers Life Insurance Company now owns 151,495 shares of the semiconductor manufacturer’s stock valued at $14,963,000 after purchasing an additional 4,527 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SWKS shares. Piper Sandler decreased their price target on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. TD Cowen lifted their price target on Skyworks Solutions from $90.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Citigroup dropped their price target on Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating for the company in a research report on Wednesday, November 13th. B. Riley decreased their price objective on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, The Goldman Sachs Group raised shares of Skyworks Solutions to a “hold” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $101.00.

Skyworks Solutions Trading Up 0.6 %

SWKS opened at $86.80 on Thursday. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. The firm has a market cap of $13.88 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.90 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 business has a fifty day simple moving average of $93.09 and a 200-day simple moving average of $99.89.

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 company had revenue of $1.03 billion during 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%. Skyworks Solutions’s revenue was down 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.95 EPS. On average, equities analysts expect that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a $0.70 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a dividend yield of 3.23%. Skyworks Solutions’s dividend payout ratio (DPR) is 75.68%.

Insider Buying and Selling

In related news, SVP Carlos S. Bori sold 9,321 shares of Skyworks Solutions stock in a transaction that occurred 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 in the company, valued at $3,793,589.91. The trade was a 20.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert John Terry sold 10,522 shares of the stock in a transaction that occurred on 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 approximately $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,841 shares of company stock valued at $3,034,265 in the last three months. 0.34% of the stock is owned by corporate insiders.

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.