Investment Management Corp of Ontario Sells 26,819 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Investment Management Corp of Ontario lowered its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 68.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,311 shares of the semiconductor manufacturer's stock after selling 26,819 shares during the quarter. Investment Management Corp of Ontario's holdings in Skyworks Solutions were worth $1,216,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in Skyworks Solutions in the 2nd quarter valued at about $27,000. Innealta Capital LLC acquired a new stake in shares of Skyworks Solutions during the 2nd quarter worth about $27,000. Erste Asset Management GmbH acquired a new stake in shares of Skyworks Solutions during the 3rd quarter worth about $27,000. Blue Trust Inc. boosted its stake in shares of Skyworks Solutions by 79.7% during the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer's stock worth $36,000 after purchasing an additional 149 shares during the last quarter. Finally, Investors Research Corp boosted its stake in shares of Skyworks Solutions by 167.7% during the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SWKS shares. Barclays decreased their price target on shares of Skyworks Solutions from $87.00 to $80.00 and set an "underweight" rating on the stock in a research note on Wednesday, November 13th. Benchmark reiterated a "hold" rating on shares of Skyworks Solutions in a report on Wednesday, November 13th. Susquehanna cut their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a "neutral" rating on the stock in a report on Wednesday, November 13th. Loop Capital initiated coverage on shares of Skyworks Solutions in a report on Monday, November 11th. They issued a "hold" rating and a $90.00 price target on the stock. Finally, Craig Hallum cut their price target on shares of Skyworks Solutions from $140.00 to $105.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued 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.

Insiders Place Their Bets

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the transaction, the senior vice president now owns 15,960 shares of the company's stock, valued at $1,404,639.60. The trade was a 39.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the transaction, the senior vice president now directly owns 27,026 shares in the company, 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 31,841 shares of company stock worth $3,034,265. 0.34% of the stock is owned by corporate insiders.

Skyworks Solutions Stock Performance

Shares of SWKS traded up $1.45 during midday trading on Friday, hitting $87.87. 3,203,816 shares of the stock traded hands, compared to its average volume of 2,386,097. Skyworks Solutions, Inc. has a 1-year low of $82.13 and a 1-year high of $120.86. The firm has a market capitalization of $14.05 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.24 and a current ratio of 5.54. The business's 50 day moving average price is $91.57 and its two-hundred day moving average price is $99.48.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the business earned $1.95 earnings per share. The company's revenue was down 15.9% on a year-over-year basis. Equities research analysts predict 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. Shareholders of record on Tuesday, December 3rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions's dividend payout ratio (DPR) 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.