Thoroughbred Financial Services LLC Invests $230,000 in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Thoroughbred Financial Services LLC bought a new position in Skyworks Solutions, Inc. (NASDAQ:SWKS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,159 shares of the semiconductor manufacturer’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SWKS. Pzena Investment Management LLC bought a new position in shares of Skyworks Solutions in the fourth quarter worth approximately $302,309,000. Norges Bank bought a new position in Skyworks Solutions during the fourth quarter valued at approximately $226,266,000. Swedbank AB bought a new position in Skyworks Solutions during the first quarter valued at approximately $110,086,000. Vanguard Group Inc. lifted its position in Skyworks Solutions by 4.0% during the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock valued at $2,101,619,000 after purchasing an additional 745,374 shares during the period. Finally, KBC Group NV lifted its position in Skyworks Solutions by 2,156.7% during the fourth quarter. KBC Group NV now owns 440,372 shares of the semiconductor manufacturer’s stock valued at $49,506,000 after purchasing an additional 420,858 shares during the period. Institutional investors own 85.43% of the company’s stock.

Insiders Place Their Bets

In other Skyworks Solutions news, SVP Reza Kasnavi sold 1,843 shares of Skyworks Solutions stock in a transaction on Friday, August 16th. The shares were sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the transaction, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Skyworks Solutions news, 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 directly owns 37,203 shares of the company’s stock, valued at approximately $3,793,589.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Reza Kasnavi sold 1,843 shares of Skyworks Solutions stock in a transaction on Friday, August 16th. The stock was sold at an average price of $107.47, for a total transaction of $198,067.21. Following the completion of the transaction, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at $1,875,888.85. The disclosure for this sale can be found here. Insiders sold 12,068 shares of company stock valued at $1,252,490 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Skyworks Solutions Stock Performance

SWKS opened at $96.75 on Wednesday. The stock has a market capitalization of $15.52 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 4.71 and a beta of 1.21. The company has a fifty day moving average of $107.71 and a 200 day moving average of $103.17. Skyworks Solutions, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $120.86. 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 posted 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. The company had revenue of $905.50 million during the quarter, compared to analysts’ expectations of $900.41 million. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. Skyworks Solutions’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the company posted $1.50 earnings per share. As a group, sell-side analysts forecast that Skyworks Solutions, Inc. will post 5.21 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were paid a $0.70 dividend. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Tuesday, August 20th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 52.63%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SWKS. Bank of America increased their price objective on shares of Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Skyworks Solutions from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Stifel Nicolaus increased their price target on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $115.00 price target (up from $95.00) on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Skyworks Solutions presently has an average rating of “Hold” and an average target price of $113.94.

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.