Philip Matthew Carter Sells 452 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) Stock

Skyworks Solutions, Inc. (NASDAQ:SWKS) VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $110.00, for a total transaction of $49,720.00. Following the sale, the vice president now directly owns 9,564 shares in the company, valued at approximately $1,052,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Skyworks Solutions Trading Up 2.2 %

SWKS stock traded up $2.38 during trading on Friday, hitting $112.33. The company had a trading volume of 2,820,723 shares, compared to its average volume of 2,418,977. The firm has a market capitalization of $18.02 billion, a P/E ratio of 20.67, a PEG ratio of 5.27 and a beta of 1.23. Skyworks Solutions, Inc. has a 52-week low of $85.06 and a 52-week high of $115.69. The company has a 50 day simple moving average of $98.58 and a 200-day simple moving average of $102.52. The company has a quick ratio of 3.81, a current ratio of 5.19 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. As a group, research analysts forecast that Skyworks Solutions, Inc. will post 5.14 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Monday, May 20th. Skyworks Solutions’s dividend payout ratio is currently 51.13%.

Hedge Funds Weigh In On Skyworks Solutions

Several large investors have recently made changes to their positions in SWKS. Pzena Investment Management LLC acquired a new position in shares of Skyworks Solutions during the 4th quarter valued at about $302,309,000. Norges Bank purchased a new position in Skyworks Solutions during the fourth quarter worth about $226,266,000. Swedbank AB purchased a new position in Skyworks Solutions during the first quarter worth about $110,086,000. Vanguard Group Inc. boosted its stake in Skyworks Solutions by 4.0% during the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after buying an additional 745,374 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Skyworks Solutions by 40.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,601,879 shares of the semiconductor manufacturer’s stock valued at $180,083,000 after purchasing an additional 465,223 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SWKS has been the topic of a number of research analyst reports. B. Riley upgraded shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and increased their price objective for the company from $96.00 to $130.00 in a research report on Thursday, June 20th. Piper Sandler reduced their price objective on shares of Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Susquehanna reaffirmed a “neutral” rating and set a $90.00 target price (down from $125.00) on shares of Skyworks Solutions in a research note on Wednesday, May 1st. Benchmark cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. cut their target price on shares of Skyworks Solutions from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of “Hold” and a consensus price target of $107.19.

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.