Weiss Asset Management LP Makes New $8.82 Million Investment in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Weiss Asset Management LP acquired a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 89,284 shares of the semiconductor manufacturer’s stock, valued at approximately $8,819,000.

Other large investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its holdings in shares of Skyworks Solutions by 4.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock worth $239,000 after purchasing an additional 87 shares during the period. AlphaMark Advisors LLC raised its stake in shares of Skyworks Solutions by 14.8% in the second quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock valued at $83,000 after buying an additional 100 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Skyworks Solutions by 0.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock valued at $1,468,000 after buying an additional 100 shares during the last quarter. Zega Financial LLC grew its stake in shares of Skyworks Solutions by 5.0% during the 2nd quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock worth $224,000 after acquiring an additional 100 shares during the period. Finally, Elo Mutual Pension Insurance Co grew its stake in shares of Skyworks Solutions by 0.7% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,722 shares of the semiconductor manufacturer’s stock worth $1,569,000 after acquiring an additional 107 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SWKS has been the topic of a number of research reports. B. Riley dropped their price objective on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Craig Hallum lowered their price target on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Morgan Stanley cut their price objective on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a report on Wednesday, November 13th. Susquehanna lowered their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Finally, Citigroup cut their price target on Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating for the company in a report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Stock Performance

Skyworks Solutions stock opened at $86.42 on Friday. Skyworks Solutions, Inc. has a fifty-two week low of $82.13 and a fifty-two week high of $120.86. 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 stock has a market cap of $13.82 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The firm’s fifty day moving average price is $91.57 and its 200-day moving average price is $99.48.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $1.95 earnings per share. The firm’s revenue was down 15.9% on a year-over-year basis. On average, equities research analysts expect that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently announced 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 yield of 3.24%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio is currently 75.68%.

Insider Buying and Selling at Skyworks Solutions

In other news, SVP Carlos S. Bori sold 9,321 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the sale, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert John Terry sold 1,821 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $90.16, for a total value of $164,181.36. Following the transaction, the senior vice president now owns 24,567 shares in the company, valued at approximately $2,214,960.72. The trade was a 6.90 % 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 over the last ninety days. Insiders own 0.34% of the company’s stock.

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.