Carnegie Investment Counsel Reduces Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Carnegie Investment Counsel reduced its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 20.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,361 shares of the semiconductor manufacturer's stock after selling 4,511 shares during the quarter. Carnegie Investment Counsel's holdings in Skyworks Solutions were worth $1,540,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SWKS. Acadian Asset Management LLC acquired a new position in shares of Skyworks Solutions during the second quarter worth $219,000. Federated Hermes Inc. grew its stake in Skyworks Solutions by 8.1% during the 2nd quarter. Federated Hermes Inc. now owns 16,823 shares of the semiconductor manufacturer's stock worth $1,793,000 after buying an additional 1,264 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Skyworks Solutions by 8.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 25,508 shares of the semiconductor manufacturer's stock valued at $2,704,000 after buying an additional 1,966 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Skyworks Solutions by 11.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,640 shares of the semiconductor manufacturer's stock valued at $601,000 after buying an additional 600 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in Skyworks Solutions by 58.0% in the second quarter. Amalgamated Bank now owns 52,146 shares of the semiconductor manufacturer's stock worth $5,558,000 after acquiring an additional 19,152 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company's stock.

Skyworks Solutions Price Performance

NASDAQ SWKS traded up $2.20 on Friday, hitting $93.64. The company had a trading volume of 2,145,591 shares, compared to its average volume of 2,037,831. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. The company's fifty day moving average price is $88.57 and its 200-day moving average price is $97.65. The company has a market capitalization of $14.98 billion, a PE ratio of 25.31, a PEG ratio of 1.99 and a beta of 1.15. Skyworks Solutions, Inc. has a 12-month low of $82.13 and a 12-month high of $120.86.

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

Skyworks Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Tuesday, December 3rd. Skyworks Solutions's payout ratio is 75.68%.

Insider Buying and Selling

In related news, SVP Robert John Terry sold 10,522 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction 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. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler cut their price objective on shares of Skyworks Solutions from $95.00 to $85.00 and set a "neutral" rating on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price target on shares of Skyworks Solutions from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Loop Capital started coverage on shares of Skyworks Solutions in a research note on Monday, November 11th. They set a "hold" rating and a $90.00 price objective for the company. Morgan Stanley cut their target price on Skyworks Solutions from $117.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 13th. Finally, Craig Hallum decreased their target price on Skyworks Solutions from $140.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $101.12.

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.