Skyworks Solutions, Inc. (NASDAQ:SWKS) Stake Cut by Park Place Capital Corp

Park Place Capital Corp cut its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 45.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 442 shares of the semiconductor manufacturer’s stock after selling 368 shares during the quarter. Park Place Capital Corp’s holdings in Skyworks Solutions were worth $48,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department lifted its stake in Skyworks Solutions by 152.8% during the fourth quarter. State of Tennessee Treasury Department now owns 118,960 shares of the semiconductor manufacturer’s stock worth $13,373,000 after purchasing an additional 71,899 shares during the last quarter. Highland Capital Management LLC lifted its stake in Skyworks Solutions by 91.4% in the fourth quarter. Highland Capital Management LLC now owns 42,564 shares of the semiconductor manufacturer’s stock valued at $4,785,000 after buying an additional 20,330 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Skyworks Solutions in the fourth quarter valued at $10,053,000. FIL Ltd lifted its stake in Skyworks Solutions by 2.4% in the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after buying an additional 64,389 shares during the last quarter. Finally, Cibc World Markets Corp lifted its stake in Skyworks Solutions by 133.3% in the fourth quarter. Cibc World Markets Corp now owns 20,523 shares of the semiconductor manufacturer’s stock valued at $2,307,000 after buying an additional 11,725 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Skyworks Solutions news, CEO Liam Griffin acquired 11,142 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the transaction, the chief executive officer now owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Skyworks Solutions news, CEO Liam Griffin acquired 11,142 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the transaction, the chief executive officer now owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert A. Schriesheim sold 25,433 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $90.27, for a total value of $2,295,836.91. Following the sale, the director now owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Benchmark cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Piper Sandler lowered their price target on Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. TD Cowen lowered Skyworks Solutions from a “buy” rating to a “hold” rating and lowered their price target for the company from $125.00 to $90.00 in a report on Wednesday, May 1st. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, May 1st. Finally, Mizuho lowered their price target on Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Skyworks Solutions currently has a consensus rating of “Hold” and a consensus price target of $107.19.

Skyworks Solutions Trading Down 0.2 %

Shares of SWKS opened at $106.40 on Tuesday. The business’s 50-day moving average price is $97.51 and its 200 day moving average price is $102.66. The stock has a market capitalization of $17.07 billion, a P/E ratio of 20.00, a P/E/G ratio of 5.07 and a beta of 1.23. Skyworks Solutions, Inc. has a 1-year low of $85.06 and a 1-year high of $115.69. The company has a current ratio of 5.19, a quick ratio of 3.81 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. Analysts expect that Skyworks Solutions, Inc. will post 5.14 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st were given a dividend of $0.68 per share. The ex-dividend date was Monday, May 20th. This represents a $2.72 dividend on an annualized basis and a yield of 2.56%. Skyworks Solutions’s payout ratio is presently 51.13%.

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.