TD Asset Management Inc Cuts Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

TD Asset Management Inc lowered its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 16.5% during the second quarter, HoldingsChannel.com reports. The firm owned 126,938 shares of the semiconductor manufacturer’s stock after selling 25,006 shares during the period. TD Asset Management Inc’s holdings in Skyworks Solutions were worth $13,529,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Skyworks Solutions by 4.0% during the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after purchasing an additional 745,374 shares during the period. Pzena Investment Management LLC raised its stake in Skyworks Solutions by 19.3% during the second quarter. Pzena Investment Management LLC now owns 4,090,292 shares of the semiconductor manufacturer’s stock worth $435,943,000 after purchasing an additional 661,144 shares during the period. FIL Ltd raised its stake in 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 purchasing an additional 64,389 shares during the period. Norges Bank purchased a new position in Skyworks Solutions during the fourth quarter worth approximately $226,266,000. Finally, Dimensional Fund Advisors LP raised its stake in Skyworks Solutions by 11.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,806,327 shares of the semiconductor manufacturer’s stock worth $203,093,000 after purchasing an additional 185,355 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Insider Activity

In other news, SVP Reza Kasnavi sold 1,843 shares of Skyworks Solutions 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 completion of the transaction, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total value of $49,720.00. Following the completion of the transaction, the vice president now directly owns 9,564 shares of the company’s stock, valued at approximately $1,052,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Reza Kasnavi sold 1,843 shares of Skyworks Solutions stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $107.47, for a total transaction of $198,067.21. Following the completion of the transaction, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at $1,875,888.85. The disclosure for this sale can be found here. In the last three months, insiders sold 2,747 shares of company stock valued at $302,027. Company insiders own 0.34% of the company’s stock.

Skyworks Solutions Price Performance

Shares of SWKS stock opened at $99.81 on Tuesday. The firm has a market cap of $15.94 billion, a P/E ratio of 18.76, a P/E/G ratio of 4.64 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29. Skyworks Solutions, Inc. has a 1-year low of $85.06 and a 1-year high of $120.86. The firm has a fifty day moving average of $108.24 and a two-hundred day moving average of $103.29.

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

Skyworks Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be issued a dividend of $0.70 per share. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, August 20th. Skyworks Solutions’s dividend payout ratio (DPR) is currently 52.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SWKS. TD Cowen raised their target price on shares of Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Rosenblatt Securities raised their target price on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. B. Riley raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and raised their target price for the company from $96.00 to $130.00 in a research note on Thursday, June 20th. Stifel Nicolaus raised their target price on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler reissued a “neutral” rating and issued a $115.00 target price (up previously from $95.00) on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $113.94.

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.