Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management trimmed its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 13.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,055 shares of the semiconductor manufacturer’s stock after selling 760 shares during the period. Sheets Smith Wealth Management’s holdings in Skyworks Solutions were worth $568,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. AXQ Capital LP bought a new stake in Skyworks Solutions during the third quarter worth approximately $789,000. Highland Capital Management LLC raised its position in shares of Skyworks Solutions by 91.4% during the fourth quarter. Highland Capital Management LLC now owns 42,564 shares of the semiconductor manufacturer’s stock worth $4,785,000 after purchasing an additional 20,330 shares during the period. LSV Asset Management boosted its position in shares of Skyworks Solutions by 24.2% in the 3rd quarter. LSV Asset Management now owns 1,741,300 shares of the semiconductor manufacturer’s stock valued at $171,675,000 after purchasing an additional 338,820 shares during the period. International Assets Investment Management LLC raised its holdings in Skyworks Solutions by 10,450.2% during the 4th quarter. International Assets Investment Management LLC now owns 84,507 shares of the semiconductor manufacturer’s stock worth $9,500,000 after buying an additional 83,706 shares during the period. Finally, abrdn plc boosted its holdings in shares of Skyworks Solutions by 50.0% in the fourth quarter. abrdn plc now owns 90,031 shares of the semiconductor manufacturer’s stock worth $10,121,000 after buying an additional 30,022 shares during the period. Institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Price Performance

Shares of NASDAQ:SWKS traded down $0.67 during midday trading on Monday, hitting $91.84. The stock had a trading volume of 1,056,546 shares, compared to its average volume of 2,406,011. The company has a quick ratio of 3.81, a current ratio of 5.19 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $14.74 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 4.00 and a beta of 1.35. The company’s 50-day moving average price is $103.41 and its 200-day moving average price is $101.90. Skyworks Solutions, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $115.69.

Skyworks Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.68 per share. The ex-dividend date is Monday, May 20th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.96%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 51.13%.

Insider Buying and Selling

In related news, CEO Liam Griffin bought 11,142 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the completion of the purchase, the chief executive officer now owns 104,153 shares in the company, valued at approximately $9,373,770. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, May 1st. Mizuho reduced their target price on Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus dropped their price target on Skyworks Solutions from $122.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. StockNews.com downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Finally, B. Riley upped their price target on shares of Skyworks Solutions from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $108.86.

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.