Profund Advisors LLC Boosts Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Profund Advisors LLC grew its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 13.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,487 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,706 shares during the period. Profund Advisors LLC’s holdings in Skyworks Solutions were worth $1,544,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its stake in Skyworks Solutions by 4.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock valued at $239,000 after purchasing an additional 87 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Skyworks Solutions by 3.0% in the first quarter. HB Wealth Management LLC now owns 3,219 shares of the semiconductor manufacturer’s stock valued at $349,000 after buying an additional 94 shares during the last quarter. Lcnb Corp lifted its stake in shares of Skyworks Solutions by 2.4% in the fourth quarter. Lcnb Corp now owns 4,355 shares of the semiconductor manufacturer’s stock worth $490,000 after buying an additional 100 shares in the last quarter. AlphaMark Advisors LLC boosted its position in Skyworks Solutions by 14.8% during the second quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock worth $83,000 after acquiring an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Skyworks Solutions by 0.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock valued at $1,468,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $98.11 on Tuesday. The company has a market cap of $15.74 billion, a P/E ratio of 18.44, a P/E/G ratio of 4.56 and a beta of 1.21. Skyworks Solutions, Inc. has a 1-year low of $85.06 and a 1-year high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29. The stock has a 50-day moving average of $106.37 and a two-hundred day moving average of $102.92.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21. The firm had revenue of $905.50 million for the quarter, compared to the consensus estimate of $900.41 million. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 EPS. As a group, analysts anticipate that Skyworks Solutions, Inc. will post 5.21 EPS for the current year.

Skyworks Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.70 per share. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, August 20th. This represents a $2.80 annualized dividend and a yield of 2.85%. Skyworks Solutions’s dividend payout ratio is 52.63%.

Insider Buying and Selling at Skyworks Solutions

In related news, SVP Reza Kasnavi sold 1,843 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $107.47, for a total transaction of $198,067.21. Following the sale, the senior vice president now directly owns 17,455 shares in the company, 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. In other news, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Reza Kasnavi sold 1,843 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the sale, the senior vice president now directly owns 17,455 shares in the company, valued at approximately $1,875,888.85. The disclosure for this sale can be found here. Insiders have sold 12,068 shares of company stock valued at $1,252,490 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SWKS. Bank of America raised their target price on shares of Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 31st. Rosenblatt Securities lifted their price objective on Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Susquehanna reiterated a “neutral” rating and set a $125.00 price target on shares of Skyworks Solutions in a report on Wednesday, July 31st. Craig Hallum boosted their price target on shares of Skyworks Solutions from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler restated a “neutral” rating and set a $115.00 price objective (up from $95.00) on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $114.18.

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.