Principal Street Partners LLC Boosts Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Principal Street Partners LLC increased its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 796.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,773 shares of the semiconductor manufacturer’s stock after buying an additional 46,887 shares during the quarter. Principal Street Partners LLC’s holdings in Skyworks Solutions were worth $5,213,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Skyworks Solutions in the second quarter valued at about $27,000. Rothschild Investment LLC acquired a new position in Skyworks Solutions in the 2nd quarter worth approximately $27,000. Investors Research Corp raised its position in Skyworks Solutions by 167.7% during the 3rd 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 last quarter. Blue Trust Inc. lifted its stake in Skyworks Solutions by 79.7% during the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 149 shares during the period. Finally, Matrix Trust Co purchased a new stake in shares of Skyworks Solutions in the 3rd quarter valued at $39,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Stock Performance

NASDAQ:SWKS opened at $86.58 on Tuesday. The company has a market cap of $13.85 billion, a P/E ratio of 23.76, a P/E/G ratio of 1.88 and a beta of 1.21. Skyworks Solutions, Inc. has a twelve month low of $82.13 and a twelve month high of $120.86. The company’s 50-day moving average price is $93.30 and its 200-day moving average price is $99.93. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results 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. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.95 EPS. On average, sell-side analysts forecast that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current fiscal 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 issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.23%. The ex-dividend date is Tuesday, December 3rd. Skyworks Solutions’s payout ratio is currently 75.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SWKS shares. Rosenblatt Securities boosted their target price on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird boosted their price objective on Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus upped their target price on Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Mizuho reduced their price target on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Finally, Piper Sandler lowered their price objective on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $101.00.

Insiders Place Their Bets

In other news, SVP Carlos S. Bori sold 9,321 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the sale, the senior vice president now owns 37,203 shares of the company’s stock, valued at $3,793,589.91. This represents a 20.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $926,041.22. Following the completion of the transaction, the senior vice president now owns 15,960 shares in the company, valued at $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,841 shares of company stock valued at $3,034,265 in the last three months. 0.35% of the stock is currently owned by insiders.

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.