PDT Partners LLC Acquires New Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

PDT Partners LLC purchased a new position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,502 shares of the semiconductor manufacturer's stock, valued at approximately $1,926,000.

Several other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in Skyworks Solutions by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,831,154 shares of the semiconductor manufacturer's stock valued at $477,173,000 after acquiring an additional 176,070 shares in the last quarter. Vulcan Value Partners LLC increased its position in Skyworks Solutions by 38.8% during the second quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer's stock worth $481,552,000 after acquiring an additional 1,262,964 shares during the period. Pzena Investment Management LLC increased its position 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 acquiring an additional 661,144 shares during the period. Pacer Advisors Inc. boosted its stake in Skyworks Solutions by 54.9% during the second quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer's stock worth $370,768,000 after buying an additional 1,233,618 shares in the last quarter. Finally, FMR LLC boosted its stake in Skyworks Solutions by 7.3% during the third quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer's stock worth $265,853,000 after buying an additional 182,130 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Robert John Terry sold 10,522 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the transaction, the senior vice president now directly owns 15,960 shares in the company, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carlos S. Bori sold 10,177 shares of the company's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $97.63, for a total value 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. This trade represents a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,841 shares of company stock worth $3,034,265. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SWKS shares. Susquehanna reduced their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Piper Sandler cut their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 13th. Loop Capital assumed coverage on shares of Skyworks Solutions in a research report on Monday, November 11th. They issued a "hold" rating and a $90.00 price target on the stock. Citigroup lowered their target price on Skyworks Solutions from $83.00 to $72.00 and set a "sell" rating for the company in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Skyworks Solutions from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $101.00.

Skyworks Solutions Price Performance

Shares of NASDAQ:SWKS traded up $0.79 during mid-day trading on Friday, reaching $87.59. The stock had a trading volume of 1,941,077 shares, compared to its average volume of 2,497,163. Skyworks Solutions, Inc. has a 1 year low of $82.13 and a 1 year high of $120.86. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. The business's 50 day moving average price is $92.44 and its 200 day moving average price is $99.70. The company has a market cap of $14.01 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 1.93 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $1.95 earnings per share. Skyworks Solutions's revenue was down 15.9% compared to the same quarter last year. Research analysts expect that Skyworks Solutions, Inc. will post 4.45 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a dividend yield of 3.20%. Skyworks Solutions's dividend payout ratio is presently 75.68%.

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.