Northwestern Mutual Wealth Management Co. Trims Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Northwestern Mutual Wealth Management Co. trimmed its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 40.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,678 shares of the semiconductor manufacturer's stock after selling 15,649 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Skyworks Solutions were worth $2,417,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BNP Paribas acquired a new position in Skyworks Solutions in the 1st quarter valued at $27,000. Innealta Capital LLC acquired a new position in Skyworks Solutions in the 2nd quarter valued at $27,000. Rothschild Investment LLC acquired a new stake in shares of Skyworks Solutions in the 2nd quarter valued at approximately $27,000. Access Investment Management LLC acquired a new position in Skyworks Solutions during the first quarter worth $31,000. Finally, Blue Trust Inc. raised its position in Skyworks Solutions by 79.7% in the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer's stock worth $36,000 after acquiring an additional 149 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SWKS. Rosenblatt Securities increased their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Piper Sandler reiterated a "neutral" rating and set a $115.00 price target (up from $95.00) on shares of Skyworks Solutions in a research report on Wednesday, July 31st. TD Cowen upped their price target on Skyworks Solutions from $90.00 to $110.00 and gave the stock a "hold" rating in a report on Wednesday, July 31st. Bank of America raised their price objective on Skyworks Solutions from $95.00 to $110.00 and gave the company an "underperform" rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group upgraded Skyworks Solutions to a "hold" rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Skyworks Solutions has a consensus rating of "Hold" and an average target price of $114.18.

Insider Transactions at Skyworks Solutions

In other Skyworks Solutions news, SVP Carlos S. Bori sold 9,321 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the completion of the sale, the senior vice president now owns 37,203 shares of the company's stock, valued at approximately $3,793,589.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Reza Kasnavi sold 1,843 shares of the firm's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $107.47, for a total value of $198,067.21. Following the transaction, the senior vice president now owns 17,455 shares of the company's stock, valued at approximately $1,875,888.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Carlos S. Bori sold 9,321 shares of the company's 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 sale, the senior vice president now directly owns 37,203 shares of the company's stock, valued at approximately $3,793,589.91. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,068 shares of company stock worth $1,252,490 in the last ninety days. Insiders own 0.34% of the company's stock.

Skyworks Solutions Trading Up 0.1 %

Shares of NASDAQ:SWKS traded up $0.10 during midday trading on Friday, reaching $96.83. The company's stock had a trading volume of 1,461,064 shares, compared to its average volume of 2,402,780. The business has a 50 day moving average price of $103.02 and a 200 day moving average price of $102.44. Skyworks Solutions, Inc. has a 1 year low of $85.06 and a 1 year high of $120.86. The firm has a market cap of $15.54 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 4.42 and a beta of 1.20. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, meeting analysts' consensus estimates of $1.21. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The company had revenue of $905.50 million during the quarter, compared to the consensus estimate of $900.41 million. During the same quarter in the prior year, the company posted $1.50 EPS. The company's quarterly revenue was down 15.5% compared to the same quarter last year. Research analysts forecast that Skyworks Solutions, Inc. will post 5.21 EPS for the current year.

Skyworks Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This is a boost from Skyworks Solutions's previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 2.89%. Skyworks Solutions's payout ratio is currently 52.63%.

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.