Insider Buying: Skyworks Solutions, Inc. (NASDAQ:SWKS) CEO Buys 10,000 Shares of Stock

Skyworks Solutions, Inc. (NASDAQ:SWKS) CEO Philip G. Brace purchased 10,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were purchased at an average price of $66.13 per share, with a total value of $661,300.00. Following the completion of the acquisition, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $661,300. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Skyworks Solutions Trading Up 4.0 %

NASDAQ SWKS opened at $66.66 on Friday. The stock has a market cap of $10.71 billion, a P/E ratio of 20.45, a PEG ratio of 1.79 and a beta of 1.14. The company’s fifty day simple moving average is $82.15 and its 200-day simple moving average is $90.77. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 52 week low of $62.01 and a 52 week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. Equities research analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a yield of 4.20%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 85.89%.

Institutional Investors Weigh In On Skyworks Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Skyworks Solutions during the fourth quarter worth approximately $19,890,000. Azzad Asset Management Inc. ADV grew its position in shares of Skyworks Solutions by 4.7% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 37,964 shares of the semiconductor manufacturer’s stock worth $3,367,000 after buying an additional 1,720 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of Skyworks Solutions during the fourth quarter worth approximately $106,000. Ameriflex Group Inc. acquired a new stake in shares of Skyworks Solutions during the fourth quarter worth approximately $71,000. Finally, Forum Financial Management LP grew its position in shares of Skyworks Solutions by 8.0% during the fourth quarter. Forum Financial Management LP now owns 16,607 shares of the semiconductor manufacturer’s stock worth $1,473,000 after buying an additional 1,237 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SWKS shares. Citigroup lifted their price target on shares of Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a report on Friday, January 10th. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a report on Thursday, February 6th. Rosenblatt Securities restated a “neutral” rating and issued a $80.00 target price (down from $120.00) on shares of Skyworks Solutions in a report on Thursday, February 6th. Susquehanna lowered their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Finally, Piper Sandler lowered their target price on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $83.78.

Skyworks Solutions Company 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.