Simmons Bank Boosts Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Simmons Bank increased its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 34.8% during the 3rd quarter, Holdings Channel reports. The fund owned 4,833 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,249 shares during the quarter. Simmons Bank’s holdings in Skyworks Solutions were worth $477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in Skyworks Solutions in the 2nd quarter valued at about $27,000. Innealta Capital LLC purchased a new position in Skyworks Solutions in the second quarter worth approximately $27,000. Blue Trust Inc. grew its holdings in Skyworks Solutions by 79.7% during the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 149 shares in the last quarter. Matrix Trust Co acquired a new stake in shares of Skyworks Solutions in the 3rd quarter valued at $39,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Skyworks Solutions during the 3rd quarter worth $49,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Skyworks Solutions Trading Down 4.4 %

Shares of SWKS stock opened at $83.18 on Thursday. Skyworks Solutions, Inc. has a twelve month low of $82.13 and a twelve month high of $120.86. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $95.79 and its two-hundred day moving average is $100.49. The company has a market capitalization of $13.29 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 3.95 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 (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.73%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company posted $1.95 EPS. Skyworks Solutions’s revenue was down 15.9% compared to the same quarter last year. Equities analysts forecast that Skyworks Solutions, Inc. will post 5.39 EPS for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.37%. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

Insiders Place Their Bets

In other news, SVP Reza Kasnavi sold 1,843 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the sale, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at $1,875,888.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Carlos S. Bori sold 9,321 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $101.97, for a total transaction of $950,462.37. Following the completion of the transaction, the senior vice president now directly owns 37,203 shares of the company’s stock, valued at $3,793,589.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Reza Kasnavi sold 1,843 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the transaction, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,684 shares of company stock worth $3,232,333. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SWKS. Piper Sandler dropped their target price on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. Mizuho cut their target price on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday. B. Riley decreased their target price on Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Rosenblatt Securities increased their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Susquehanna reduced their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.59.

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.