Skyworks Solutions (NASDAQ:SWKS) Shares Gap Down Following Insider Selling

Skyworks Solutions, Inc. (NASDAQ:SWKS - Get Free Report) shares gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $87.04, but opened at $84.78. Skyworks Solutions shares last traded at $83.95, with a volume of 1,112,340 shares trading hands.

Specifically, SVP Robert John Terry sold 1,821 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $2,214,960.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SWKS shares. Rosenblatt Securities boosted their price objective on Skyworks Solutions from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Piper Sandler decreased their price target on Skyworks Solutions from $95.00 to $85.00 and set a "neutral" rating for the company in a report on Wednesday. Craig Hallum dropped their price objective on shares of Skyworks Solutions from $140.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday. Loop Capital assumed coverage on shares of Skyworks Solutions in a report on Monday. They set a "hold" rating and a $90.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of Skyworks Solutions from $120.00 to $100.00 and set a "neutral" rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $101.59.

Skyworks Solutions Stock Performance

The company has a market cap of $13.29 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 3.95 and a beta of 1.21. The firm's 50 day simple moving average is $96.17 and its 200-day simple moving average is $100.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 5.75.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its quarterly earnings data 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. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.73%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the prior year, the company earned $1.95 EPS. Skyworks Solutions's revenue was down 15.9% compared to the same quarter last year. On average, sell-side analysts predict that Skyworks Solutions, Inc. will post 5.39 EPS for the current year.

Skyworks Solutions Dividend Announcement

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 3.37%. Skyworks Solutions's payout ratio is 75.68%.

Institutional Investors Weigh In On Skyworks Solutions

Hedge funds have recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Skyworks Solutions in the 2nd quarter valued at approximately $27,000. Rothschild Investment LLC purchased a new position in Skyworks Solutions in the second quarter worth approximately $27,000. Investors Research Corp grew its position in Skyworks Solutions by 167.7% in the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 213 shares during the period. Blue Trust Inc. increased its stake in Skyworks Solutions by 79.7% during 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 during the last quarter. Finally, Matrix Trust Co purchased a new stake in Skyworks Solutions in the third quarter valued at $39,000. Hedge funds and other institutional investors own 85.43% of the company's stock.

About Skyworks Solutions

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.