Skyworks Solutions (NASDAQ:SWKS) Shares Gap Down on Insider Selling

Skyworks Solutions, Inc. (NASDAQ:SWKS)’s share price gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $102.47, but opened at $100.07. Skyworks Solutions shares last traded at $98.85, with a volume of 71,943 shares traded.

Specifically, SVP Carlos S. Bori sold 9,321 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the transaction, the senior vice president now owns 37,203 shares of the company’s stock, valued at approximately $3,793,589.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

SWKS has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Susquehanna reissued a “neutral” rating and set a $125.00 target price on shares of Skyworks Solutions in a research report 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. Craig Hallum boosted their price target on Skyworks Solutions from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird raised their price target on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $113.94.

Skyworks Solutions Trading Down 5.1 %

The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The company has a market cap of $15.60 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 4.71 and a beta of 1.21. The firm has a 50-day moving average price of $107.71 and a 200 day moving average price of $103.17.

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

Skyworks Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were issued a $0.70 dividend. 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 2.88%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s dividend payout ratio (DPR) is currently 52.63%.

Hedge Funds Weigh In On Skyworks Solutions

Institutional investors have recently made changes to their positions in the stock. Verity & Verity LLC grew its stake in Skyworks Solutions by 4.4% during the 2nd quarter. Verity & Verity LLC now owns 77,188 shares of the semiconductor manufacturer’s stock worth $8,227,000 after buying an additional 3,220 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Skyworks Solutions during the second quarter worth about $1,122,000. Clearbridge Investments LLC increased its holdings in shares of Skyworks Solutions by 3.3% in the 2nd quarter. Clearbridge Investments LLC now owns 368,858 shares of the semiconductor manufacturer’s stock worth $39,313,000 after acquiring an additional 11,691 shares during the period. Cetera Investment Advisers lifted its position in Skyworks Solutions by 13.5% in the 2nd quarter. Cetera Investment Advisers now owns 48,911 shares of the semiconductor manufacturer’s stock valued at $5,213,000 after purchasing an additional 5,827 shares during the last quarter. Finally, Hershey Financial Advisers LLC bought a new position in Skyworks Solutions in the 2nd quarter worth about $1,461,000. 85.43% of the stock is owned by institutional investors.

About Skyworks Solutions

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.