Skyworks Solutions, Inc. (NASDAQ:SWKS) Stock Holdings Cut by Inspire Investing LLC

Inspire Investing LLC reduced its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 24.4% in the second quarter, HoldingsChannel.com reports. The firm owned 24,274 shares of the semiconductor manufacturer’s stock after selling 7,814 shares during the period. Inspire Investing LLC’s holdings in Skyworks Solutions were worth $2,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Seven Eight Capital LP bought a new position in Skyworks Solutions during the 2nd quarter valued at $2,968,000. Elo Mutual Pension Insurance Co boosted its stake in Skyworks Solutions by 0.7% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock valued at $1,569,000 after purchasing an additional 107 shares in the last quarter. Zega Financial LLC lifted its position in shares of Skyworks Solutions by 5.0% during the 2nd quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock valued at $224,000 after acquiring an additional 100 shares during the last quarter. Amalgamated Bank lifted its position in shares of Skyworks Solutions by 58.0% during the 2nd quarter. Amalgamated Bank now owns 52,146 shares of the semiconductor manufacturer’s stock valued at $5,558,000 after acquiring an additional 19,152 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Skyworks Solutions by 11.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,640 shares of the semiconductor manufacturer’s stock valued at $601,000 after acquiring an additional 600 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

Insider Transactions at Skyworks Solutions

In other news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total transaction of $54,240.00. Following the completion of the transaction, the vice president now directly owns 9,112 shares of the company’s stock, valued at $1,093,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Reza Kasnavi sold 1,843 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Philip Matthew Carter sold 452 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total value of $54,240.00. Following the transaction, the vice president now directly owns 9,112 shares of the company’s stock, valued at $1,093,440. The disclosure for this sale can be found here. Insiders sold 12,068 shares of company stock valued at $1,252,490 over the last three months. Company insiders own 0.34% of the company’s stock.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock opened at $96.23 on Thursday. The firm has a 50 day simple moving average of $107.52 and a 200 day simple moving average of $103.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29. Skyworks Solutions, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $120.86. The firm has a market cap of $15.37 billion, a P/E ratio of 18.09, a P/E/G ratio of 4.56 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates of $1.21. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The firm had revenue of $905.50 million during the quarter, compared to analyst estimates of $900.41 million. During the same quarter in the previous year, the business earned $1.50 EPS. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. Sell-side analysts predict that Skyworks Solutions, Inc. will post 5.21 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.91%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, August 20th. Skyworks Solutions’s payout ratio is presently 52.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SWKS. Piper Sandler reiterated a “neutral” rating and set a $115.00 price objective (up previously from $95.00) on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Stifel Nicolaus increased their price objective on Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. B. Riley upgraded Skyworks Solutions from a “neutral” rating to a “buy” rating and increased their target price for the company from $96.00 to $130.00 in a report on Thursday, June 20th. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised Skyworks Solutions to a “hold” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Skyworks Solutions currently has an average rating of “Hold” and an average price target of $113.94.

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.