NFJ Investment Group LLC Sells 8,128 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

NFJ Investment Group LLC cut its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 11.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,061 shares of the semiconductor manufacturer’s stock after selling 8,128 shares during the quarter. NFJ Investment Group LLC’s holdings in Skyworks Solutions were worth $6,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SWKS. Innealta Capital LLC bought a new position in Skyworks Solutions in the 2nd quarter worth $27,000. Rothschild Investment LLC purchased a new position in shares of Skyworks Solutions during the second quarter valued at about $27,000. Erste Asset Management GmbH bought a new position in Skyworks Solutions in the third quarter worth about $27,000. Investors Research Corp lifted its holdings in Skyworks Solutions by 167.7% in the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 213 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Skyworks Solutions by 79.7% in the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 149 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Trading Down 1.0 %

Skyworks Solutions stock opened at $87.62 on Wednesday. Skyworks Solutions, Inc. has a one year low of $82.13 and a one year high of $120.86. The business’s fifty day moving average is $92.25 and its 200 day moving average is $99.70. The stock has a market capitalization of $14.01 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.95 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $1.95 EPS. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. On average, sell-side analysts predict that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Dividend Announcement

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 paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.20%. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

Wall Street Analysts Forecast Growth

SWKS has been the subject of several research reports. B. Riley decreased their target price on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Loop Capital began coverage on Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 price objective for the company. Morgan Stanley dropped their target price on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 13th. Craig Hallum reduced their target price on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Piper Sandler lowered their price target on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Skyworks Solutions presently has an average rating of “Hold” and an average price target of $101.00.

Insider Activity

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the sale, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carlos S. Bori sold 9,321 shares of Skyworks Solutions stock in a transaction on Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the transaction, the senior vice president now owns 37,203 shares in the company, valued at $3,793,589.91. This represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,841 shares of company stock valued at $3,034,265 in the last ninety days. 0.35% of the stock is currently owned by company insiders.

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, 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.