Strategic Financial Concepts LLC Takes Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Strategic Financial Concepts LLC purchased a new position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 25,022 shares of the semiconductor manufacturer’s stock, valued at approximately $2,667,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Duality Advisers LP acquired a new stake in shares of Skyworks Solutions during the first quarter worth about $1,517,000. State of Tennessee Treasury Department increased its position 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 buying an additional 71,899 shares during the period. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Skyworks Solutions in the fourth quarter valued at approximately $10,053,000. Brookstone Capital Management acquired a new stake in shares of Skyworks Solutions in the first quarter valued at approximately $262,000. Finally, FIL Ltd grew its position in shares of Skyworks Solutions by 2.4% during the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after acquiring an additional 64,389 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Skyworks Solutions news, SVP Reza Kasnavi sold 1,843 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the sale, the senior vice president now owns 17,455 shares of the company’s stock, valued at $1,875,888.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Skyworks Solutions news, SVP Reza Kasnavi sold 1,843 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $107.47, for a total value of $198,067.21. Following the sale, the senior vice president now owns 17,455 shares of the company’s stock, valued at $1,875,888.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Philip Matthew Carter sold 452 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total transaction of $49,720.00. Following the completion of the sale, the vice president now owns 9,564 shares in the company, valued at $1,052,040. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,747 shares of company stock valued at $302,027. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SWKS has been the subject of several research reports. Craig Hallum upped their price target on shares of Skyworks Solutions from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Susquehanna reaffirmed a “neutral” rating and issued a $125.00 target price on shares of Skyworks Solutions in a report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $115.00 price target (up previously from $95.00) on shares of Skyworks Solutions in a report on Wednesday, July 31st. TD Cowen upped their price objective on Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $113.94.

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS opened at $98.79 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 5.75. Skyworks Solutions, Inc. has a one year low of $85.06 and a one year high of $120.86. The firm has a market capitalization of $15.78 billion, a P/E ratio of 18.57, a PEG ratio of 4.64 and a beta of 1.21. The company’s fifty day moving average is $108.38 and its two-hundred day moving average is $103.33.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $900.41 million. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The firm’s revenue was down 15.5% on a year-over-year basis. Analysts forecast that Skyworks Solutions, Inc. will post 5.21 EPS for the current fiscal year.

Skyworks Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be paid a $0.70 dividend. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 2.83%. The ex-dividend date is Tuesday, August 20th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 52.63%.

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.