Principal Street Partners LLC Boosts Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Principal Street Partners LLC lifted its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 796.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,773 shares of the semiconductor manufacturer's stock after purchasing an additional 46,887 shares during the quarter. Principal Street Partners LLC's holdings in Skyworks Solutions were worth $5,213,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Sequoia Financial Advisors LLC grew its holdings in shares of Skyworks Solutions by 4.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer's stock worth $239,000 after purchasing an additional 87 shares in the last quarter. AlphaMark Advisors LLC boosted its stake in Skyworks Solutions by 14.8% in the second quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer's stock valued at $83,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Skyworks Solutions by 0.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer's stock valued at $1,468,000 after buying an additional 100 shares in the last quarter. Zega Financial LLC boosted its stake in Skyworks Solutions by 5.0% in the second quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer's stock valued at $224,000 after buying an additional 100 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its stake in Skyworks Solutions by 0.7% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer's stock valued at $1,569,000 after buying an additional 107 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Skyworks Solutions

In related news, SVP Carlos S. Bori sold 10,177 shares of the business's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the sale, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. The trade was a 27.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert John Terry sold 10,522 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 31,841 shares of company stock worth $3,034,265. 0.35% of the stock is owned by company insiders.

Skyworks Solutions Stock Performance

Skyworks Solutions stock traded down $1.65 during mid-day trading on Tuesday, reaching $86.28. 1,863,773 shares of the company's stock were exchanged, compared to its average volume of 2,387,749. The business's fifty day simple moving average is $93.30 and its 200 day simple moving average is $99.93. The firm has a market capitalization of $13.80 billion, a PE ratio of 23.32, a P/E/G ratio of 1.88 and a beta of 1.21. Skyworks Solutions, Inc. has a one year low of $82.13 and a one year high of $120.86. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.03. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business's revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.95 earnings per share. On average, sell-side analysts expect that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a $0.70 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a dividend yield of 3.25%. Skyworks Solutions's payout ratio is presently 75.68%.

Analysts Set New Price Targets

Several research firms recently weighed in on SWKS. Susquehanna reduced their price objective on Skyworks Solutions from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Loop Capital started coverage on Skyworks Solutions in a research report on Monday, November 11th. They issued a "hold" rating and a $90.00 target price for the company. Piper Sandler dropped their target price on Skyworks Solutions from $95.00 to $85.00 and set a "neutral" rating for the company in a research report on Wednesday, November 13th. Stifel Nicolaus increased their target price on Skyworks Solutions from $112.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Finally, Mizuho dropped their target price on Skyworks Solutions from $127.00 to $105.00 and set an "outperform" rating for the company in a research 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 stock. According to data from MarketBeat, Skyworks Solutions currently has a consensus rating of "Hold" and an average price target of $101.00.

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.