Townsquare Capital LLC Acquires New Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Townsquare Capital LLC acquired a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,044 shares of the semiconductor manufacturer’s stock, valued at approximately $202,000.

A number of other institutional investors have also made changes to their positions in the stock. Principal Street Partners LLC raised its stake in shares of Skyworks Solutions by 796.6% in 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 in the last quarter. Brooklyn Investment Group acquired a new stake in Skyworks Solutions in the 3rd quarter valued at approximately $164,000. FMR LLC grew its holdings in Skyworks Solutions by 7.3% in the 3rd quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer’s stock valued at $265,853,000 after buying an additional 182,130 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Skyworks Solutions by 3.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 151,495 shares of the semiconductor manufacturer’s stock valued at $14,963,000 after buying an additional 4,527 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in Skyworks Solutions in the 3rd quarter valued at approximately $1,570,000. 85.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Craig Hallum lowered their target price on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Piper Sandler lowered their target price on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Citigroup decreased their price objective on Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating on the stock in a report on Wednesday, November 13th. Morgan Stanley decreased their price objective on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 13th. Finally, Barclays decreased their price objective on Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating on the stock in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.00.

Insider Transactions at Skyworks Solutions

In other news, SVP Robert John Terry sold 10,522 shares of the business’s stock in a transaction on Monday, November 11th. The stock was 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 owns 15,960 shares in the company, valued at $1,404,639.60. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Carlos S. Bori sold 10,177 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $97.63, for a total value of $993,580.51. Following the sale, the senior vice president now owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. The trade was a 27.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,841 shares of company stock worth $3,034,265 over the last 90 days. 0.34% of the stock is owned by insiders.

Skyworks Solutions Trading Up 1.7 %

Shares of SWKS opened at $87.87 on Friday. The stock has a fifty day moving average price of $91.35 and a two-hundred day moving average price of $99.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.24 and a current ratio of 5.54. Skyworks Solutions, Inc. has a 52-week low of $82.13 and a 52-week high of $120.86. The company has a market cap of $14.05 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.94 and a beta of 1.19.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted $1.95 EPS. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. Analysts predict that Skyworks Solutions, Inc. will post 4.45 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.19%. Skyworks Solutions’s payout ratio is currently 75.68%.

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.