Weiss Asset Management LP Takes Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Weiss Asset Management LP acquired a new stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 89,284 shares of the semiconductor manufacturer's stock, valued at approximately $8,819,000. Weiss Asset Management LP owned approximately 0.06% of Skyworks Solutions at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Skyworks Solutions by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,831,154 shares of the semiconductor manufacturer's stock valued at $477,173,000 after purchasing an additional 176,070 shares in the last quarter. Vulcan Value Partners LLC increased its stake in shares of Skyworks Solutions by 38.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer's stock valued at $481,552,000 after buying an additional 1,262,964 shares during the period. Pzena Investment Management LLC raised its position in shares of Skyworks Solutions by 19.3% during the second quarter. Pzena Investment Management LLC now owns 4,090,292 shares of the semiconductor manufacturer's stock worth $435,943,000 after acquiring an additional 661,144 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Skyworks Solutions by 54.9% during 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 period. Finally, FMR LLC lifted its stake in shares of Skyworks Solutions by 7.3% in the 3rd quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer's stock valued at $265,853,000 after purchasing an additional 182,130 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Carlos S. Bori sold 9,321 shares of Skyworks Solutions stock in a transaction that occurred on Friday, September 13th. The shares were 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. The trade was a 20.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Robert John Terry sold 10,522 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares of the company's stock, valued at approximately $1,404,639.60. The trade was a 39.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,841 shares of company stock worth $3,034,265. Insiders own 0.34% of the company's stock.

Skyworks Solutions Price Performance

NASDAQ:SWKS traded up $1.45 during trading hours on Friday, reaching $87.87. 3,189,855 shares of the company were exchanged, compared to its average volume of 2,382,147. The business has a 50 day moving average of $91.57 and a 200 day moving average of $99.48. Skyworks Solutions, Inc. has a 1-year low of $82.13 and a 1-year high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. The company has a market capitalization of $14.05 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.94 and a beta of 1.19.

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

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, December 3rd. Skyworks Solutions's dividend payout ratio is presently 75.68%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SWKS shares. Susquehanna cut their target price 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. Barclays reduced their target price on shares of Skyworks Solutions from $87.00 to $80.00 and set an "underweight" rating for the company in a research note on Wednesday, November 13th. Piper Sandler dropped their price target on Skyworks Solutions from $95.00 to $85.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Morgan Stanley reduced their price objective on Skyworks Solutions from $117.00 to $87.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 13th. Finally, Loop Capital began coverage on Skyworks Solutions in a research report on Monday, November 11th. They issued a "hold" rating and a $90.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Skyworks Solutions has a consensus rating of "Hold" and an average price target of $101.00.

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.