Freedom Investment Management Inc. Has $933,000 Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Freedom Investment Management Inc. cut its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 12.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,450 shares of the semiconductor manufacturer’s stock after selling 1,388 shares during the quarter. Freedom Investment Management Inc.’s holdings in Skyworks Solutions were worth $933,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its position 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 buying an additional 87 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in Skyworks Solutions by 14.8% during the second quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock worth $83,000 after acquiring an additional 100 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Skyworks Solutions by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock worth $1,468,000 after acquiring an additional 100 shares during the period. Zega Financial LLC boosted its position in Skyworks Solutions by 5.0% in the second quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock worth $224,000 after purchasing an additional 100 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co grew its stake in Skyworks Solutions by 0.7% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock valued at $1,569,000 after purchasing an additional 107 shares during the period. Institutional investors own 85.43% of the company’s stock.

Analysts Set New Price Targets

SWKS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Citigroup dropped their target price on shares of Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating on the stock in a research note on Wednesday, November 13th. B. Riley decreased their price target on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Morgan Stanley dropped their price objective on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 13th. Finally, Barclays reduced their price objective on Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating for the company in a report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.00.

Insiders Place Their Bets

In other Skyworks Solutions news, SVP Robert John Terry sold 1,821 shares of the business’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 completion of the sale, the senior vice president now directly owns 24,567 shares of the company’s stock, valued at $2,214,960.72. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Carlos S. Bori sold 10,177 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the transaction, the senior vice president now directly owns 27,026 shares in the company, valued at $2,638,548.38. This trade represents a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,841 shares of company stock valued at $3,034,265 over the last 90 days. Insiders own 0.34% of the company’s stock.

Skyworks Solutions Stock Up 0.6 %

SWKS stock opened at $86.80 on Friday. The company’s 50 day moving average is $92.90 and its 200 day moving average is $99.80. The stock has a market cap of $13.88 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.21. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 1-year low of $82.13 and a 1-year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. The business 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 quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.95 EPS. Sell-side analysts predict that Skyworks Solutions, Inc. will post 4.45 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.23%. Skyworks Solutions’s payout ratio is 75.68%.

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.