Geode Capital Management LLC Grows Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Geode Capital Management LLC grew its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,143,639 shares of the semiconductor manufacturer’s stock after purchasing an additional 28,009 shares during the period. Geode Capital Management LLC’s holdings in Skyworks Solutions were worth $408,410,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SWKS. Resources Management Corp CT ADV lifted its holdings in Skyworks Solutions by 3.4% in the 3rd quarter. Resources Management Corp CT ADV now owns 4,324 shares of the semiconductor manufacturer’s stock worth $427,000 after buying an additional 142 shares in the last quarter. Guardian Wealth Management Inc. boosted its holdings in Skyworks Solutions by 1.7% in the third quarter. Guardian Wealth Management Inc. now owns 10,228 shares of the semiconductor manufacturer’s stock valued at $1,010,000 after purchasing an additional 171 shares during the last quarter. Barclays PLC increased its holdings in Skyworks Solutions by 96.4% during the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock worth $191,023,000 after purchasing an additional 949,407 shares during the last quarter. Harvest Investment Advisors LLC raised its position in shares of Skyworks Solutions by 14.1% in the 3rd quarter. Harvest Investment Advisors LLC now owns 15,739 shares of the semiconductor manufacturer’s stock valued at $1,555,000 after purchasing an additional 1,940 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Skyworks Solutions by 5.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 72,403 shares of the semiconductor manufacturer’s stock valued at $7,151,000 after buying an additional 4,019 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Trading Up 1.5 %

Shares of NASDAQ:SWKS opened at $90.98 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 quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. The company has a market cap of $14.55 billion, a PE ratio of 24.59, a P/E/G ratio of 1.98 and a beta of 1.19. The company’s 50-day moving average price is $90.59 and its 200 day moving average price is $99.34.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.03. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.95 earnings per share. Sell-side analysts anticipate that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SWKS shares. Mizuho dropped their price target on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, November 13th. Morgan Stanley decreased their price target on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 13th. Susquehanna cut their price objective on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Finally, Piper Sandler decreased their target price on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Skyworks Solutions currently has an average rating of “Hold” and a consensus target price of $101.00.

Insider Buying and Selling at Skyworks Solutions

In related news, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $97.63, for a total value of $993,580.51. Following the transaction, the senior vice president now owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert John Terry sold 10,522 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $88.01, for a total transaction of $926,041.22. Following the sale, the senior vice president now owns 15,960 shares in the company, valued at $1,404,639.60. This represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,520 shares of company stock valued at $2,083,803. 0.34% of the stock is owned by insiders.

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.