Kingsview Wealth Management LLC Sells 1,431 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Kingsview Wealth Management LLC lowered its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 18.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,285 shares of the semiconductor manufacturer’s stock after selling 1,431 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Skyworks Solutions were worth $621,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in shares of Skyworks Solutions in the second quarter worth about $27,000. Rothschild Investment LLC bought a new position in Skyworks Solutions in the 2nd quarter valued at approximately $27,000. Investors Research Corp raised its holdings in Skyworks Solutions by 167.7% in the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 213 shares during the last quarter. Blue Trust Inc. raised its holdings in Skyworks Solutions by 79.7% in the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 149 shares during the last quarter. Finally, Matrix Trust Co bought a new position in Skyworks Solutions in the 3rd quarter valued at approximately $39,000. Institutional investors own 85.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SWKS shares. Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, November 13th. Piper Sandler dropped their price objective on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. The Goldman Sachs Group upgraded shares of Skyworks Solutions to a “hold” rating in a report on Wednesday, July 31st. TD Cowen raised their price objective on shares of Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley decreased their target price on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $101.00.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, SVP Carlos S. Bori sold 10,177 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the transaction, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 15,960 shares in the company, valued at approximately $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,841 shares of company stock worth $3,034,265. Corporate insiders own 0.35% of the company’s stock.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $86.80 on Thursday. The company has a fifty day simple moving average of $93.09 and a 200 day simple moving average of $99.89. Skyworks Solutions, Inc. has a 12-month low of $82.13 and a 12-month high of $120.86. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. The company has a market cap of $13.88 billion, a P/E ratio of 23.46, a PEG ratio of 1.94 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results 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 13.71%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $1.95 EPS. Skyworks Solutions’s revenue was down 15.9% compared to the same quarter last year. Sell-side analysts predict that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The business also recently disclosed 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. This represents a $2.80 annualized dividend and a yield of 3.23%. The ex-dividend date is Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio (DPR) is presently 75.68%.

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.