Truvestments Capital LLC Cuts Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Truvestments Capital LLC decreased its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 65.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,753 shares of the semiconductor manufacturer’s stock after selling 3,264 shares during the period. Truvestments Capital LLC’s holdings in Skyworks Solutions were worth $173,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SWKS. Rothschild Investment LLC acquired a new stake in Skyworks Solutions in the second quarter valued at approximately $27,000. Innealta Capital LLC purchased a new position in shares of Skyworks Solutions in the second quarter valued at $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 valued at $36,000 after purchasing an additional 149 shares in the last quarter. Investors Research Corp increased its stake 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 period. Finally, Matrix Trust Co acquired a new position in Skyworks Solutions in the 3rd quarter worth $39,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions Trading Down 1.9 %

Skyworks Solutions stock opened at $86.28 on Wednesday. Skyworks Solutions, Inc. has a 52-week low of $82.13 and a 52-week high of $120.86. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.94 and a beta of 1.21. The firm has a 50-day moving average price of $93.30 and a two-hundred day moving average price of $99.93.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate 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 was down 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.95 earnings per share. Sell-side analysts expect that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.25%. The ex-dividend date is Tuesday, December 3rd. Skyworks Solutions’s payout ratio is currently 75.68%.

Insider Activity at Skyworks Solutions

In other news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the transaction, the senior vice president now directly owns 15,960 shares in the company, valued at approximately $1,404,639.60. This trade represents a 39.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction 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 owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,841 shares of company stock worth $3,034,265 in the last 90 days. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SWKS. TD Cowen raised their target price on Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Citigroup dropped their price objective on Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating on the stock in a report on Wednesday, November 13th. B. Riley reduced their target price on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Barclays dropped their price target on shares of Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. Finally, Mizuho reduced their price objective on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $101.00.

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.