KBC Group NV Decreases Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

KBC Group NV cut its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 48.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 583,399 shares of the semiconductor manufacturer’s stock after selling 539,681 shares during the period. KBC Group NV’s holdings in Skyworks Solutions were worth $57,623,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in Skyworks Solutions in the second quarter valued at $27,000. Innealta Capital LLC acquired a new stake in shares of Skyworks Solutions during the 2nd quarter worth about $27,000. Blue Trust Inc. lifted its stake in Skyworks Solutions by 79.7% during the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 149 shares during the last quarter. Matrix Trust Co acquired a new position in Skyworks Solutions in the third quarter valued at approximately $39,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Skyworks Solutions in the third quarter valued at approximately $49,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the company’s 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 sale, the senior vice president now owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the completion of the sale, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. The trade was a 27.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,841 shares of company stock valued at $3,034,265. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SWKS. Rosenblatt Securities boosted their price objective on shares of Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler cut their price target on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday. TD Cowen upped their price objective on shares of Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their target price on Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley reduced their target price on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Stock Performance

Shares of SWKS opened at $84.00 on Friday. Skyworks Solutions, Inc. has a 1 year low of $82.13 and a 1 year high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 3.01. The company’s fifty day moving average is $95.44 and its two-hundred day moving average is $100.37. The stock has a market capitalization of $13.42 billion, a P/E ratio of 22.70, a P/E/G ratio of 3.77 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. Skyworks Solutions’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.95 earnings per share. On average, sell-side analysts predict that Skyworks Solutions, Inc. will post 5.39 earnings per share for the current year.

Skyworks Solutions Announces Dividend

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

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.