Franklin Resources Inc. Lowers Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Franklin Resources Inc. trimmed its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 12.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 154,318 shares of the semiconductor manufacturer's stock after selling 21,988 shares during the quarter. Franklin Resources Inc. owned 0.10% of Skyworks Solutions worth $15,301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SWKS. Synovus Financial Corp grew its holdings in Skyworks Solutions by 17.4% during the third quarter. Synovus Financial Corp now owns 5,123 shares of the semiconductor manufacturer's stock worth $506,000 after acquiring an additional 760 shares during the period. Wilmington Savings Fund Society FSB boosted its position in Skyworks Solutions by 1.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 65,784 shares of the semiconductor manufacturer's stock worth $6,497,000 after purchasing an additional 1,244 shares in the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Skyworks Solutions during the 3rd quarter worth approximately $11,209,000. World Investment Advisors LLC purchased a new position in shares of Skyworks Solutions during the 3rd quarter valued at approximately $4,734,000. Finally, Sculati Wealth Management LLC lifted its stake in shares of Skyworks Solutions by 49.3% in the 3rd quarter. Sculati Wealth Management LLC now owns 9,057 shares of the semiconductor manufacturer's stock valued at $981,000 after purchasing an additional 2,990 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SWKS has been the topic of several analyst reports. Citigroup dropped their price target on shares of Skyworks Solutions from $83.00 to $72.00 and set a "sell" rating on the stock in a research report on Wednesday, November 13th. Craig Hallum dropped their target price on Skyworks Solutions from $140.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, November 13th. Mizuho reduced their price target on Skyworks Solutions from $127.00 to $105.00 and set an "outperform" rating for the company in a report on Wednesday, November 13th. Barclays dropped their price objective on Skyworks Solutions from $87.00 to $80.00 and set an "underweight" rating on the stock in a report on Wednesday, November 13th. Finally, Morgan Stanley reduced their target price on Skyworks Solutions from $117.00 to $87.00 and set an "equal weight" rating for the company in a research note on Wednesday, November 13th. Three 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. According to data from MarketBeat, Skyworks Solutions currently has a consensus rating of "Hold" and a consensus price target of $101.00.

Skyworks Solutions Price Performance

Shares of NASDAQ:SWKS traded up $0.49 during midday trading on Friday, hitting $88.75. The company had a trading volume of 6,259,295 shares, compared to its average volume of 2,405,372. Skyworks Solutions, Inc. has a twelve month low of $82.13 and a twelve month high of $120.86. The stock has a market cap of $14.19 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 2.01 and a beta of 1.19. 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 business's 50-day simple moving average is $90.05 and its 200-day simple moving average is $99.29.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the company posted $1.95 EPS. The company's revenue was down 15.9% compared to the same quarter last year. On average, research analysts predict that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Tuesday, December 3rd. Skyworks Solutions's payout ratio is presently 75.68%.

Insider Activity at Skyworks Solutions

In related news, SVP Robert John Terry sold 1,821 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $90.16, for a total value of $164,181.36. Following the sale, the senior vice president now directly owns 24,567 shares in the company, valued at approximately $2,214,960.72. The trade was a 6.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the transaction, the senior vice president now directly owns 27,026 shares of the company's stock, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,520 shares of company stock worth $2,083,803. Insiders own 0.34% of the company's stock.

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.