Highland Capital Management LLC Sells 2,155 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Highland Capital Management LLC lessened its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 5.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 37,099 shares of the semiconductor manufacturer’s stock after selling 2,155 shares during the period. Highland Capital Management LLC’s holdings in Skyworks Solutions were worth $3,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SWKS. BNP Paribas bought a new stake in Skyworks Solutions in the first quarter valued at about $27,000. Rothschild Investment LLC bought a new stake in shares of Skyworks Solutions in the 2nd quarter valued at approximately $27,000. Innealta Capital LLC acquired a new position in shares of Skyworks Solutions in the 2nd quarter worth approximately $27,000. Access Investment Management LLC bought a new position in shares of Skyworks Solutions during the 1st quarter worth approximately $31,000. Finally, Blue Trust Inc. boosted its stake in Skyworks Solutions by 79.7% in the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Bank of America lifted their price objective on Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, July 31st. The Goldman Sachs Group upgraded shares of Skyworks Solutions to a “hold” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Skyworks Solutions from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Barclays downgraded Skyworks Solutions from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $115.00 to $87.00 in a report on Thursday, October 10th. Finally, Piper Sandler dropped their price target on Skyworks Solutions from $115.00 to $95.00 and set a “neutral” rating for the company in a report on Friday. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.88.

Insiders Place Their Bets

In other news, SVP Carlos S. Bori sold 10,177 shares of the business’s stock in a transaction on 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 $2,638,548.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the transaction, the senior vice president now owns 27,026 shares in the company, valued at $2,638,548.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Carlos S. Bori sold 9,321 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the transaction, the senior vice president now owns 37,203 shares of the company’s stock, valued at $3,793,589.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,341 shares of company stock worth $2,142,110. Company insiders own 0.34% of the company’s stock.

Skyworks Solutions Price Performance

Shares of SWKS stock opened at $95.20 on Friday. The firm’s 50 day moving average price is $100.26 and its two-hundred day moving average price is $101.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 5.75. The stock has a market cap of $15.21 billion, a PE ratio of 19.63, a PEG ratio of 4.34 and a beta of 1.20. Skyworks Solutions, Inc. has a 52-week low of $85.06 and a 52-week high of $120.86.

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

Skyworks Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.94%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s payout ratio is currently 57.73%.

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.