PNC Financial Services Group Inc. Boosts Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

PNC Financial Services Group Inc. boosted its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 91,032 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,636 shares during the period. PNC Financial Services Group Inc.’s holdings in Skyworks Solutions were worth $8,991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SWKS. Innealta Capital LLC bought a new position in shares of Skyworks Solutions in the second quarter worth about $27,000. Rothschild Investment LLC bought a new stake in Skyworks Solutions during the 2nd quarter worth approximately $27,000. Blue Trust Inc. lifted its holdings in Skyworks Solutions by 79.7% during the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 149 shares in the last quarter. Matrix Trust Co purchased a new stake in shares of Skyworks Solutions in the third quarter worth $39,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Skyworks Solutions in the third quarter worth $40,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Robert John Terry sold 1,821 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $90.16, for a total value of $164,181.36. Following the completion of the sale, the senior vice president now owns 24,567 shares of the company’s stock, valued at $2,214,960.72. This trade represents a 6.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of the company’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 transaction, the senior vice president now directly owns 27,026 shares in the company, valued at $2,638,548.38. This represents a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,841 shares of company stock worth $3,034,265. Corporate insiders own 0.34% of the company’s stock.

Skyworks Solutions Stock Up 0.4 %

Shares of Skyworks Solutions stock opened at $85.41 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 2.19. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 1.84 and a beta of 1.21. The firm’s 50-day moving average is $93.49 and its two-hundred day moving average is $99.86. Skyworks Solutions, Inc. has a 1 year low of $82.13 and a 1 year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. Skyworks Solutions’s revenue was down 15.9% on a year-over-year basis. As a group, research analysts expect that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions’s payout ratio is 75.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SWKS. Stifel Nicolaus increased their price target on Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Mizuho cut their target price on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, November 13th. Finally, Craig Hallum reduced their price objective on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Three investment 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. According to data from MarketBeat, Skyworks Solutions has an average rating of “Hold” and an average price target of $101.00.

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.