DAVENPORT & Co LLC Acquires 4,089 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

DAVENPORT & Co LLC grew its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 16.7% in the 4th quarter, HoldingsChannel reports. The fund owned 28,525 shares of the semiconductor manufacturer’s stock after buying an additional 4,089 shares during the period. DAVENPORT & Co LLC’s holdings in Skyworks Solutions were worth $2,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Erste Asset Management GmbH bought a new stake in shares of Skyworks Solutions during the third quarter valued at approximately $27,000. Investors Research Corp increased its holdings in shares of Skyworks Solutions by 167.7% during the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 213 shares in the last quarter. Matrix Trust Co bought a new stake in shares of Skyworks Solutions during the third quarter valued at approximately $39,000. Valley Wealth Managers Inc. bought a new stake in shares of Skyworks Solutions during the third quarter valued at approximately $40,000. Finally, Quest Partners LLC bought a new stake in shares of Skyworks Solutions during the third quarter valued at approximately $41,000. Institutional investors own 85.43% of the company’s stock.

Insider Activity

In related news, SVP Robert John Terry sold 1,821 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by company insiders.

Skyworks Solutions Trading Up 1.3 %

NASDAQ SWKS opened at $86.37 on Wednesday. Skyworks Solutions, Inc. has a fifty-two week low of $82.13 and a fifty-two week high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.24 and a current ratio of 5.54. The stock has a 50 day simple moving average of $89.79 and a two-hundred day simple moving average of $95.79. The stock has a market cap of $13.88 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, topping 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 business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business posted $1.95 EPS. The business’s revenue was down 15.9% on a year-over-year basis. On average, analysts forecast that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current 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 paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Tuesday, December 3rd. Skyworks Solutions’s payout ratio is presently 75.68%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SWKS shares. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, November 13th. Loop Capital assumed coverage on Skyworks Solutions in a report on Monday, November 11th. They set a “hold” rating and a $90.00 price target for the company. Piper Sandler decreased their price target on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Morgan Stanley decreased their price target on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a report on Wednesday, November 13th. Finally, Mizuho decreased their price target on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $101.12.

Skyworks Solutions 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.