Gateway Wealth Partners LLC Cuts Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Gateway Wealth Partners LLC decreased its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 2.4% during the 4th quarter, Holdings Channel reports. The fund owned 6,225 shares of the semiconductor manufacturer’s stock after selling 150 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Skyworks Solutions were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Erste Asset Management GmbH acquired a new position in Skyworks Solutions during the 3rd quarter worth approximately $27,000. Investors Research Corp grew its holdings in Skyworks Solutions by 167.7% during 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. Matrix Trust Co purchased a new position in Skyworks Solutions in the third quarter worth $39,000. Valley Wealth Managers Inc. acquired a new stake in Skyworks Solutions in the third quarter valued at $40,000. Finally, Quest Partners LLC purchased a new stake in shares of Skyworks Solutions during the 3rd quarter worth $41,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Skyworks Solutions Stock Up 0.4 %

Shares of NASDAQ SWKS opened at $90.16 on Thursday. The firm’s 50 day moving average price is $89.69 and its 200 day moving average price is $96.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.24 and a current ratio of 5.54. The firm has a market cap of $14.42 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. Skyworks Solutions, Inc. has a 1 year low of $82.13 and a 1 year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned $1.95 earnings per share. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Skyworks Solutions’s payout ratio is currently 75.68%.

Insider Buying and Selling

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the sale, the senior vice president now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

SWKS has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. B. Riley reduced 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 report on Thursday, November 14th. Citigroup upped their price target on Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a report on Friday, January 10th. Craig Hallum reduced their price objective on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Finally, Loop Capital assumed coverage on Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 target price on the stock. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $101.12.

Skyworks Solutions 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.