Peloton Wealth Strategists Lowers Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Peloton Wealth Strategists reduced its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 5.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,995 shares of the semiconductor manufacturer’s stock after selling 850 shares during the quarter. Peloton Wealth Strategists’ holdings in Skyworks Solutions were worth $1,705,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Duality Advisers LP bought a new position in Skyworks Solutions during the 1st quarter worth about $1,517,000. State of Tennessee Treasury Department grew its holdings in Skyworks Solutions by 152.8% during the 4th quarter. State of Tennessee Treasury Department now owns 118,960 shares of the semiconductor manufacturer’s stock worth $13,373,000 after acquiring an additional 71,899 shares in the last quarter. Brookstone Capital Management purchased a new stake in shares of Skyworks Solutions during the first quarter valued at about $262,000. FIL Ltd lifted its position in shares of Skyworks Solutions by 2.4% during the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after buying an additional 64,389 shares during the last quarter. Finally, Cibc World Markets Corp lifted its position in shares of Skyworks Solutions by 133.3% during the fourth quarter. Cibc World Markets Corp now owns 20,523 shares of the semiconductor manufacturer’s stock valued at $2,307,000 after buying an additional 11,725 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Skyworks Solutions

In other news, VP Philip Matthew Carter sold 452 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total transaction of $54,240.00. Following the sale, the vice president now owns 9,112 shares of the company’s stock, valued at approximately $1,093,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction 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 sale, the vice president now owns 9,112 shares of the company’s stock, valued at approximately $1,093,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $950,462.37. Following the completion of the sale, the senior vice president now directly owns 37,203 shares in the company, valued at approximately $3,793,589.91. 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 90 days. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on SWKS shares. Rosenblatt Securities increased their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Barclays increased their price target on shares of Skyworks Solutions from $85.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Stifel Nicolaus increased their price target on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group raised shares of Skyworks Solutions to a “hold” rating in a research report on Wednesday, July 31st. Finally, 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. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $114.18.

Skyworks Solutions Stock Performance

SWKS opened at $98.85 on Friday. Skyworks Solutions, Inc. has a 12-month low of $85.06 and a 12-month high of $120.86. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $15.79 billion, a PE ratio of 18.58, a P/E/G ratio of 4.63 and a beta of 1.21. The firm has a 50 day moving average of $104.89 and a two-hundred day moving average of $102.75.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates of $1.21. The business had revenue of $905.50 million for 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%. The business’s revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the company earned $1.50 EPS. On average, analysts anticipate that Skyworks Solutions, Inc. will post 5.21 EPS for the current year.

Skyworks Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.70 per share. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.83%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 52.63%.

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.