Skyworks Solutions, Inc. (NASDAQ:SWKS) Short Interest Up 28.4% in October

Skyworks Solutions, Inc. (NASDAQ:SWKS - Get Free Report) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 8,510,000 shares, an increase of 28.4% from the October 15th total of 6,630,000 shares. Based on an average daily trading volume, of 1,980,000 shares, the days-to-cover ratio is currently 4.3 days. Approximately 5.4% of the company's stock are short sold.

Skyworks Solutions Price Performance

SWKS stock traded down $0.31 on Friday, hitting $83.69. 3,278,939 shares of the company's stock traded hands, compared to its average volume of 2,401,136. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 1.53 and a beta of 1.21. Skyworks Solutions has a 1-year low of $82.13 and a 1-year high of $120.86. The company has a current ratio of 3.01, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $95.14 and a 200-day moving average of $100.20.

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, topping analysts' consensus estimates of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. 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 firm posted $1.95 EPS. The company's quarterly revenue was down 15.9% on a year-over-year basis. On average, analysts forecast that Skyworks Solutions will post 5.39 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders 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 yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions's payout ratio is 75.68%.

Analyst Ratings Changes

A number of equities analysts have commented on SWKS shares. Mizuho decreased their price objective on shares of Skyworks Solutions from $127.00 to $105.00 and set an "outperform" rating for the company in a report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Piper Sandler cut their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a "neutral" rating on the stock in a report on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Finally, Citigroup dropped their price target on Skyworks Solutions from $83.00 to $72.00 and set a "sell" rating on the stock in a research report on Wednesday. Three equities research 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 MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $101.00.

Insider Activity

In other news, SVP Carlos S. Bori sold 9,321 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total value of $950,462.37. Following the sale, the senior vice president now owns 37,203 shares in the company, valued at approximately $3,793,589.91. This represents a 20.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert John Terry sold 1,821 shares of Skyworks Solutions stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $90.16, for a total value of $164,181.36. Following the completion of the transaction, the senior vice president now owns 24,567 shares of the company's stock, valued at $2,214,960.72. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,841 shares of company stock worth $3,034,265. 0.34% of the stock is currently owned by insiders.

Institutional Trading of Skyworks Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vulcan Value Partners LLC raised its stake in shares of Skyworks Solutions by 38.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer's stock worth $481,552,000 after purchasing an additional 1,262,964 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Skyworks Solutions by 54.9% in the second quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer's stock valued at $370,768,000 after acquiring an additional 1,233,618 shares during the last quarter. Swedbank AB bought a new stake in Skyworks Solutions in the first quarter worth approximately $110,086,000. Barclays PLC increased its stake in shares of Skyworks Solutions by 96.4% during the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer's stock worth $191,023,000 after purchasing an additional 949,407 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Skyworks Solutions by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer's stock valued at $223,994,000 after purchasing an additional 775,470 shares in the last quarter. Institutional investors and hedge funds own 85.43% 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.