American National Bank cut its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report) by 1.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,248 shares of the semiconductor manufacturer’s stock after selling 125 shares during the period. American National Bank’s holdings in Skyworks Solutions were worth $802,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. grew its holdings in Skyworks Solutions by 54.0% in the first quarter. Panagora Asset Management Inc. now owns 10,415 shares of the semiconductor manufacturer’s stock worth $1,388,000 after purchasing an additional 3,654 shares during the period. LSV Asset Management purchased a new position in Skyworks Solutions during the first quarter valued at $11,382,000. Raymond James Trust N.A. raised its stake in Skyworks Solutions by 7.8% during the first quarter. Raymond James Trust N.A. now owns 2,328 shares of the semiconductor manufacturer’s stock valued at $310,000 after buying an additional 169 shares during the last quarter. Prudential PLC bought a new stake in Skyworks Solutions in the first quarter worth $429,000. Finally, Moors & Cabot Inc. grew its stake in shares of Skyworks Solutions by 9.7% in the first quarter. Moors & Cabot Inc. now owns 7,249 shares of the semiconductor manufacturer’s stock worth $966,000 after acquiring an additional 643 shares during the last quarter. 81.39% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Susquehanna upped their price target on shares of Skyworks Solutions from $125.00 to $130.00 and gave the stock a “positive” rating in a research note on Tuesday, August 8th. Morgan Stanley upped their target price on shares of Skyworks Solutions from $104.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 8th. StockNews.com raised Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Mizuho lowered their price target on Skyworks Solutions from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Tuesday, August 8th. Finally, Piper Sandler lifted their price objective on Skyworks Solutions from $107.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.32.
Insider Buying and Selling
In other Skyworks Solutions news, Director Kevin L. Beebe sold 4,851 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $103.97, for a total value of $504,358.47. Following the sale, the director now owns 51,855 shares in the company, valued at approximately $5,391,364.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Kevin L. Beebe sold 4,851 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.97, for a total transaction of $504,358.47. Following the transaction, the director now owns 51,855 shares of the company’s stock, valued at approximately $5,391,364.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kris Sennesael sold 40,000 shares of Skyworks Solutions stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $106.28, for a total transaction of $4,251,200.00. Following the transaction, the chief financial officer now directly owns 87,823 shares of the company’s stock, valued at $9,333,828.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,962 shares of company stock worth $6,225,401. 0.31% of the stock is owned by insiders.
Skyworks Solutions Stock Performance
SWKS opened at $98.50 on Tuesday. The company has a 50 day simple moving average of $107.78 and a two-hundred day simple moving average of $107.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.83 and a quick ratio of 2.31. The firm has a market cap of $15.70 billion, a P/E ratio of 15.18, a PEG ratio of 0.88 and a beta of 1.28. Skyworks Solutions, Inc. has a 1-year low of $76.16 and a 1-year high of $123.69.
Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last issued its earnings results on Monday, August 7th. The semiconductor manufacturer reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.30. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Skyworks Solutions had a net margin of 20.97% and a return on equity of 23.89%. Skyworks Solutions’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.12 EPS. Equities analysts forecast that Skyworks Solutions, Inc. will post 7.45 earnings per share for the current fiscal year.
Skyworks Solutions Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 29th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, August 28th. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.62. Skyworks Solutions’s payout ratio is 41.91%.
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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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