CENTRAL TRUST Co Trims Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

CENTRAL TRUST Co lessened its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 13.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,084 shares of the semiconductor manufacturer’s stock after selling 316 shares during the quarter. CENTRAL TRUST Co’s holdings in Skyworks Solutions were worth $206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Duality Advisers LP purchased a new position in shares of Skyworks Solutions during the first quarter worth approximately $1,517,000. Brookstone Capital Management purchased a new position in Skyworks Solutions during the 1st quarter worth $262,000. Advisors Asset Management Inc. grew its position in Skyworks Solutions by 73.3% during the 1st quarter. Advisors Asset Management Inc. now owns 16,067 shares of the semiconductor manufacturer’s stock worth $1,740,000 after purchasing an additional 6,795 shares during the last quarter. M&G Plc acquired a new position in Skyworks Solutions in the second quarter valued at $797,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Skyworks Solutions by 10.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 450,917 shares of the semiconductor manufacturer’s stock valued at $48,843,000 after buying an additional 43,373 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions Trading Up 0.1 %

Shares of SWKS stock opened at $95.20 on Monday. The stock has a market cap of $15.27 billion, a P/E ratio of 17.89, a P/E/G ratio of 4.34 and a beta of 1.20. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $120.86. The business has a fifty day simple moving average of $100.26 and a 200-day simple moving average of $101.45.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The firm had revenue of $905.50 million during the quarter, compared to the consensus estimate of $900.41 million. During the same period last year, the firm posted $1.50 EPS. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, analysts forecast that Skyworks Solutions, Inc. will post 5.21 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were paid a $0.70 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.94%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s dividend payout ratio is presently 52.63%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SWKS shares. JPMorgan Chase & Co. raised their price target on Skyworks Solutions from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. B. Riley lowered their target price on Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler cut their price target on Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday. Bank of America increased their price target on Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, July 31st. Finally, Craig Hallum boosted their price objective on shares of Skyworks Solutions from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three 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 MarketBeat, Skyworks Solutions presently has a consensus rating of “Hold” and an average price target of $109.88.

Insiders Place Their Bets

In other news, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $97.63, for a total value of $993,580.51. Following the sale, the senior vice president now directly owns 27,026 shares in the company, valued at $2,638,548.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 transaction, the senior vice president now owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction dated 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 owns 37,203 shares in the company, valued at approximately $3,793,589.91. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,341 shares of company stock valued at $2,142,110. Corporate insiders own 0.34% of the company’s stock.

Skyworks Solutions Company 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.