Short Interest in Skyworks Solutions, Inc. (NASDAQ:SWKS) Expands By 28.4%

Skyworks Solutions, Inc. (NASDAQ:SWKS) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 8,510,000 shares, a growth of 28.4% from the October 15th total of 6,630,000 shares. Currently, 5.4% of the shares of the stock are short sold. Based on an average daily volume of 1,980,000 shares, the days-to-cover ratio is currently 4.3 days.

Analysts Set New Price Targets

Several research firms have weighed in on SWKS. Robert W. Baird upped their price objective on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Citigroup dropped their price target 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. B. Riley reduced their price objective on Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Craig Hallum reduced their price target on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Skyworks Solutions presently has an average rating of “Hold” and a consensus target price of $101.00.

Skyworks Solutions Trading Down 0.4 %

Shares of SWKS traded down $0.31 during trading hours on Friday, hitting $83.69. 3,278,939 shares of the stock traded hands, compared to its average volume of 2,401,136. The business has a fifty day moving average of $95.14 and a 200-day moving average of $100.20. The company has a current ratio of 3.01, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. Skyworks Solutions has a 1-year low of $82.13 and a 1-year high of $120.86. The firm has a market capitalization of $13.37 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.53 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm posted $1.95 earnings per share. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. Analysts expect that Skyworks Solutions will post 5.39 EPS for the current year.

Skyworks Solutions Announces Dividend

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 paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio is 75.68%.

Insider Buying and Selling

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $97.63, for a total transaction of $993,580.51. Following the transaction, the senior vice president now owns 27,026 shares in the company, valued at approximately $2,638,548.38. The trade was a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,841 shares of company stock worth $3,034,265 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Skyworks Solutions

Institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC bought a new stake in Skyworks Solutions during the 2nd quarter worth about $27,000. Innealta Capital LLC bought a new position in shares of Skyworks Solutions during the 2nd quarter worth approximately $27,000. Erste Asset Management GmbH acquired a new position in shares of Skyworks Solutions in the third quarter valued at $27,000. Blue Trust Inc. raised its holdings in Skyworks Solutions by 79.7% in the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 149 shares during the period. Finally, Investors Research Corp increased its stake in shares of 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 purchasing an additional 213 shares during the period. 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.