Carnegie Investment Counsel Lowers Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Carnegie Investment Counsel lowered its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 20.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 17,361 shares of the semiconductor manufacturer’s stock after selling 4,511 shares during the period. Carnegie Investment Counsel’s holdings in Skyworks Solutions were worth $1,540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in Skyworks Solutions by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,831,154 shares of the semiconductor manufacturer’s stock valued at $477,173,000 after buying an additional 176,070 shares during the period. Vulcan Value Partners LLC boosted its position in Skyworks Solutions by 38.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock valued at $481,552,000 after buying an additional 1,262,964 shares during the period. Geode Capital Management LLC boosted its position in Skyworks Solutions by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,143,639 shares of the semiconductor manufacturer’s stock valued at $408,410,000 after buying an additional 28,009 shares during the period. Pacer Advisors Inc. boosted its position in Skyworks Solutions by 54.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock valued at $370,768,000 after buying an additional 1,233,618 shares during the period. Finally, FMR LLC boosted its position in Skyworks Solutions by 7.3% in the 3rd quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer’s stock valued at $265,853,000 after buying an additional 182,130 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SWKS. Piper Sandler decreased their price objective on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Loop Capital began coverage on shares of Skyworks Solutions in a research report on Monday, November 11th. They set a “hold” rating and a $90.00 price objective for the company. Susquehanna decreased their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Barclays decreased their price objective on shares of Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating for the company in a research report on Friday. Finally, B. Riley decreased their price objective on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Three research 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, the stock has an average rating of “Hold” and an average price target of $101.12.

Insider Buying and Selling

In related news, SVP Robert John Terry sold 10,522 shares of the business’s 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 owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by insiders.

Skyworks Solutions Trading Up 2.4 %

Shares of Skyworks Solutions stock opened at $93.64 on Friday. 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 company’s 50-day simple moving average is $88.57 and its 200-day simple moving average is $97.65. The firm has a market cap of $14.97 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) 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 period in the previous year, the business posted $1.95 earnings per share. The business’s revenue was down 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.99%. Skyworks Solutions’s dividend payout ratio (DPR) is 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.