Skyworks Solutions (NASDAQ:SWKS) Reaches New 52-Week Low Following Insider Selling

Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) hit a new 52-week low during trading on Tuesday after an insider sold shares in the company. The company traded as low as $86.58 and last traded at $87.55, with a volume of 138839 shares. The stock had previously closed at $87.98.

Specifically, SVP Robert John Terry sold 1,821 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $90.16, for a total transaction of $164,181.36. Following the sale, the senior vice president now owns 24,567 shares of the company’s stock, valued at $2,214,960.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday. Mizuho reduced their price objective on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday. Stifel Nicolaus raised their price objective on Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Finally, B. Riley decreased their price target on Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Three equities 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 company’s stock. According to MarketBeat.com, Skyworks Solutions has an average rating of “Hold” and a consensus target price of $101.59.

Skyworks Solutions Stock Performance

The firm has a 50 day moving average of $95.79 and a 200-day moving average of $100.49. The company has a market cap of $13.29 billion, a P/E ratio of 22.48, a PEG ratio of 3.95 and a beta of 1.21. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.73% and a net margin of 14.27%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $1.95 EPS. The business’s revenue was down 15.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Skyworks Solutions, Inc. will post 5.39 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.37%. Skyworks Solutions’s dividend payout ratio is currently 75.68%.

Hedge Funds Weigh In On Skyworks Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. Forsta AP Fonden boosted its position in Skyworks Solutions by 27.0% during the third quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer’s stock valued at $3,674,000 after purchasing an additional 7,900 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Skyworks Solutions by 73.3% in the 1st quarter. Advisors Asset Management Inc. now owns 16,067 shares of the semiconductor manufacturer’s stock valued at $1,740,000 after buying an additional 6,795 shares in the last quarter. Versor Investments LP grew its position in shares of Skyworks Solutions by 115.3% in the 3rd quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock worth $1,966,000 after buying an additional 10,658 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Skyworks Solutions by 25.3% during the 3rd quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock worth $152,915,000 after acquiring an additional 325,672 shares in the last quarter. Finally, M&G Plc purchased a new stake in Skyworks Solutions during the second quarter valued at approximately $797,000. 85.43% of the stock is currently owned by institutional investors.

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.