Skyworks Solutions (NASDAQ:SWKS) Shares Gap Down on Insider Selling

Skyworks Solutions, Inc. (NASDAQ:SWKS)’s stock price gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $87.04, but opened at $84.78. Skyworks Solutions shares last traded at $83.95, with a volume of 1,112,340 shares trading hands.

Specifically, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the transaction, the senior vice president now owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robert John Terry sold 1,821 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $90.16, for a total transaction of $164,181.36. Following the completion of the sale, the senior vice president now owns 24,567 shares of the company’s stock, valued at $2,214,960.72. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Susquehanna decreased their target price on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday. Rosenblatt Securities upped their price objective on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird raised their target price on shares of Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Morgan Stanley decreased their price target on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Bank of America raised their price objective on shares of Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Skyworks Solutions presently has an average rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Trading Up 1.0 %

The company has a market cap of $13.42 billion, a P/E ratio of 22.70, a PEG ratio of 3.95 and a beta of 1.21. The firm’s 50 day moving average is $95.44 and its two-hundred day moving average is $100.37. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results 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. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.73%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business earned $1.95 EPS. The company’s revenue was down 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Skyworks Solutions, Inc. will post 5.39 EPS for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.33%. Skyworks Solutions’s payout ratio is currently 75.68%.

Hedge Funds Weigh In On Skyworks Solutions

Institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in Skyworks Solutions during the 2nd quarter worth approximately $27,000. Rothschild Investment LLC acquired a new position in shares of Skyworks Solutions during the second quarter worth approximately $27,000. Erste Asset Management GmbH bought a new position in shares of Skyworks Solutions in the 3rd quarter worth $27,000. Investors Research Corp grew its position in Skyworks Solutions by 167.7% in the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 213 shares during the period. Finally, Blue Trust Inc. increased its stake in Skyworks Solutions by 79.7% during the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.