CX Institutional Lowers Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

CX Institutional lessened its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 14.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,201 shares of the semiconductor manufacturer’s stock after selling 562 shares during the period. CX Institutional’s holdings in Skyworks Solutions were worth $341,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Duality Advisers LP acquired a new position in Skyworks Solutions during the 1st quarter valued at approximately $1,517,000. State of Tennessee Treasury Department lifted its holdings in Skyworks Solutions by 152.8% during the fourth quarter. State of Tennessee Treasury Department now owns 118,960 shares of the semiconductor manufacturer’s stock valued at $13,373,000 after purchasing an additional 71,899 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Skyworks Solutions during the fourth quarter valued at $10,053,000. Brookstone Capital Management purchased a new position in shares of Skyworks Solutions in the first quarter worth about $262,000. Finally, FIL Ltd lifted its stake in shares of Skyworks Solutions by 2.4% in the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after buying an additional 64,389 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

Insider Activity at Skyworks Solutions

In other news, VP Philip Matthew Carter sold 452 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total transaction of $49,720.00. Following the completion of the transaction, the vice president now directly owns 9,564 shares of the company’s stock, valued at approximately $1,052,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert A. Schriesheim sold 25,433 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $90.27, for a total value of $2,295,836.91. Following the completion of the transaction, the director now owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total value of $49,720.00. Following the completion of the transaction, the vice president now directly owns 9,564 shares of the company’s stock, valued at approximately $1,052,040. The disclosure for this sale can be found here. Insiders have sold 26,337 shares of company stock worth $2,399,797 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Skyworks Solutions Trading Down 1.7 %

Shares of Skyworks Solutions stock traded down $1.72 during trading on Friday, hitting $101.06. The stock had a trading volume of 357,783 shares, compared to its average volume of 2,512,779. The company has a market capitalization of $16.14 billion, a PE ratio of 19.32, a P/E/G ratio of 4.66 and a beta of 1.23. Skyworks Solutions, Inc. has a 1 year low of $85.06 and a 1 year high of $120.86. The stock has a 50 day simple moving average of $106.23 and a 200 day simple moving average of $103.20. 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 posted 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. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The business had revenue of $905.50 million for the quarter, compared to analyst estimates of $900.41 million. During the same quarter in the prior year, the firm earned $1.50 EPS. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. On average, research analysts expect that Skyworks Solutions, Inc. will post 5.21 EPS for the current fiscal year.

Skyworks Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 2.77%. Skyworks Solutions’s dividend payout ratio is presently 51.13%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wolfe Research cut shares of Skyworks Solutions from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 9th. Piper Sandler restated a “neutral” rating and issued a $115.00 price objective (up previously from $95.00) on shares of Skyworks Solutions in a research note on Wednesday, July 31st. The Goldman Sachs Group upgraded shares of Skyworks Solutions to a “hold” rating in a research note on Wednesday, July 31st. Stifel Nicolaus upped their target price on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Barclays increased their price target on shares of Skyworks Solutions from $85.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $113.94.

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.