Independent Solutions Wealth Management LLC Sells 538 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Independent Solutions Wealth Management LLC cut its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 13.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,412 shares of the semiconductor manufacturer’s stock after selling 538 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Skyworks Solutions were worth $337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Skyworks Solutions by 79.7% during the second 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. Keynote Financial Services LLC grew its position in Skyworks Solutions by 4.8% during the second quarter. Keynote Financial Services LLC now owns 14,065 shares of the semiconductor manufacturer’s stock valued at $1,499,000 after buying an additional 650 shares during the period. Planned Solutions Inc. bought a new stake in shares of Skyworks Solutions in the 2nd quarter worth approximately $211,000. Capital Insight Partners LLC increased its holdings in Skyworks Solutions by 0.4% in the 2nd quarter. Capital Insight Partners LLC now owns 29,144 shares of the semiconductor manufacturer’s stock worth $3,106,000 after acquiring an additional 110 shares during the last quarter. Finally, Institute for Wealth Management LLC. raised its position in shares of Skyworks Solutions by 5.6% in the second quarter. Institute for Wealth Management LLC. now owns 6,298 shares of the semiconductor manufacturer’s stock valued at $671,000 after purchasing an additional 336 shares during the period. 85.43% of the stock is owned by institutional investors.

Insider Activity at Skyworks Solutions

In related news, 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 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 $1,404,639.60. This represents a 39.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of the business’s stock in a transaction dated 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 directly owns 27,026 shares of the company’s stock, valued at $2,638,548.38. The trade was a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,520 shares of company stock valued at $2,083,803. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

SWKS has been the topic of a number of analyst reports. Piper Sandler decreased their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Citigroup decreased their target price on Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating for the company in a research report on Wednesday, November 13th. Craig Hallum cut their price objective on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Morgan Stanley cut their price objective on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a report on Wednesday, November 13th. Finally, Mizuho lowered their price target on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a 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 company’s stock. According to data from MarketBeat.com, Skyworks Solutions has an average rating of “Hold” and a consensus target price of $101.00.

Skyworks Solutions Trading Down 0.1 %

Skyworks Solutions stock traded down $0.12 during mid-day trading on Thursday, hitting $88.54. 1,257,554 shares of the stock were exchanged, compared to its average volume of 2,381,822. The firm’s fifty day simple moving average is $90.21 and its two-hundred day simple moving average is $99.37. The stock has a market capitalization of $14.16 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.01 and a beta of 1.19. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 12 month low of $82.13 and a 12 month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm posted $1.95 EPS. Skyworks Solutions’s revenue was down 15.9% on a year-over-year basis. Analysts forecast that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a $0.70 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a dividend yield of 3.16%. Skyworks Solutions’s dividend payout ratio (DPR) is 75.68%.

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.