Skyworks Solutions Inc. (NASDAQ:SWKS) fell 3% during trading on Friday following insider selling activity. The company traded as low as $74.06 and last traded at $74.60, with a volume of 2,653,362 shares trading hands. The stock had previously closed at $76.90.
Specifically, Director Timothy R. Furey sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $74.87, for a total value of $374,350.00. Following the sale, the director now owns 34,947 shares in the company, valued at approximately $2,616,481.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman David J. Aldrich sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $60.21, for a total value of $903,150.00. Following the completion of the sale, the chairman now owns 145,327 shares in the company, valued at approximately $8,750,138.67. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by corporate insiders.
Several research firms have commented on SWKS. Vetr lowered Skyworks Solutions from a “buy” rating to a “hold” rating and set a $77.08 price objective on the stock. in a research report on Thursday, September 15th. Canaccord Genuity restated a “buy” rating and issued a $92.00 price objective on shares of Skyworks Solutions in a research report on Friday. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $100.00 price objective on shares of Skyworks Solutions in a research report on Friday, September 16th. Brean Capital restated a “buy” rating on shares of Skyworks Solutions in a research report on Wednesday. Finally, Drexel Hamilton restated a “buy” rating and issued a $90.00 price objective on shares of Skyworks Solutions in a research report on Tuesday, August 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $82.92.
The stock’s 50-day moving average is $72.11 and its 200 day moving average is $69.39. The company has a market capitalization of $14.02 billion, a price-to-earnings ratio of 14.81 and a beta of 1.15.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. Skyworks Solutions had a return on equity of 29.31% and a net margin of 29.32%. The business had revenue of $751.70 million for the quarter, compared to the consensus estimate of $750.22 million. On average, equities analysts expect that Skyworks Solutions Inc. will post $5.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Thursday, August 4th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, August 2nd. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 1.50%. Skyworks Solutions’s dividend payout ratio is 22.18%.
Institutional investors have recently added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC increased its position in Skyworks Solutions by 0.8% in the second quarter. Moody Lynn & Lieberson LLC now owns 8,686 shares of the semiconductor manufacturer’s stock valued at $550,000 after buying an additional 65 shares during the period. Ranger Investment Management L.P. increased its position in Skyworks Solutions by 1.7% in the second quarter. Ranger Investment Management L.P. now owns 5,540 shares of the semiconductor manufacturer’s stock valued at $351,000 after buying an additional 90 shares during the period. Nisa Investment Advisors LLC increased its position in Skyworks Solutions by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 33,300 shares of the semiconductor manufacturer’s stock valued at $2,107,000 after buying an additional 100 shares during the period. Conning Inc. increased its position in Skyworks Solutions by 2.3% in the second quarter. Conning Inc. now owns 4,890 shares of the semiconductor manufacturer’s stock valued at $309,000 after buying an additional 110 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in Skyworks Solutions by 1.9% in the first quarter. Stratos Wealth Partners LTD. now owns 6,006 shares of the semiconductor manufacturer’s stock valued at $468,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors own 76.66% of the company’s stock.
Skyworks Solutions Company Profile
Skyworks Solutions Inc is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Company’s portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics.
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