Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 51.2% during the 4th quarter, HoldingsChannel reports. The firm owned 8,398 shares of the semiconductor manufacturer’s stock after selling 8,795 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Skyworks Solutions were worth $745,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SWKS. Erste Asset Management GmbH acquired a new position in Skyworks Solutions during the third quarter worth $27,000. Investors Research Corp raised its stake in Skyworks Solutions by 167.7% during the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 213 shares during the period. Matrix Trust Co purchased a new stake in shares of Skyworks Solutions in the 3rd quarter valued at approximately $39,000. Valley Wealth Managers Inc. acquired a new stake in shares of Skyworks Solutions during the 3rd quarter worth approximately $40,000. Finally, Quest Partners LLC purchased a new stake in shares of Skyworks Solutions during the 3rd quarter valued at approximately $41,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the completion of the sale, the senior vice president now owns 27,026 shares in the company, valued at $2,638,548.38. This represents a 27.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert John Terry sold 10,522 shares of the firm’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 transaction, the senior vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 22,520 shares of company stock valued at $2,083,803. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SWKS. B. Riley reduced their target price on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Piper Sandler lowered their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Barclays decreased their price objective on shares of Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating on the stock in a report on Wednesday, November 13th. Mizuho dropped their target price on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Finally, Morgan Stanley decreased their price target on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Price Performance

Shares of SWKS opened at $90.90 on Tuesday. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 2.01 and a beta of 1.15. The firm’s fifty day simple moving average is $88.25 and its 200-day simple moving average is $98.50. Skyworks Solutions, Inc. has a twelve month low of $82.13 and a twelve month high of $120.86. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.95 EPS. Equities analysts forecast 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 was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio (DPR) 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.