Essex LLC Sells 5,870 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Essex LLC trimmed its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,781 shares of the semiconductor manufacturer’s stock after selling 5,870 shares during the quarter. Essex LLC’s holdings in Skyworks Solutions were worth $2,109,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Erste Asset Management GmbH purchased a new stake in Skyworks Solutions in the 3rd quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new stake in Skyworks Solutions during the fourth quarter valued at $28,000. Investors Research Corp grew its position in Skyworks Solutions by 167.7% during 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 in the last quarter. Valley Wealth Managers Inc. bought a new position in Skyworks Solutions in the 3rd quarter worth about $40,000. Finally, Quest Partners LLC purchased a new stake in shares of Skyworks Solutions in the 3rd quarter valued at about $41,000. 85.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SWKS has been the subject of several research analyst reports. Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Thursday. Morgan Stanley dropped their price objective on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their target price on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Susquehanna dropped their price target on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Finally, Bank of America reduced their price objective on Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Skyworks Solutions currently has a consensus rating of “Hold” and an average price target of $83.78.

Insider Transactions at Skyworks Solutions

In related news, SVP Robert John Terry sold 10,522 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Skyworks Solutions Price Performance

Shares of SWKS stock opened at $65.69 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.24 and a current ratio of 5.94. The firm has a market cap of $10.56 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.45 and a beta of 1.14. The business’s 50 day moving average price is $88.93 and its 200-day moving average price is $94.99. Skyworks Solutions, Inc. has a fifty-two week low of $62.01 and a fifty-two week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. On average, equities research analysts anticipate that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, February 24th. This represents a $2.80 annualized dividend and a dividend yield of 4.26%. Skyworks Solutions’s payout ratio is 85.89%.

Skyworks Solutions 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.