Lake Street Advisors Group LLC Invests $347,000 in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Lake Street Advisors Group LLC purchased a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,202 shares of the semiconductor manufacturer’s stock, valued at approximately $347,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. grew its position in Skyworks Solutions by 39.8% during the first quarter. Bessemer Group Inc. now owns 14,926 shares of the semiconductor manufacturer’s stock worth $1,617,000 after buying an additional 4,246 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in Skyworks Solutions by 51.7% during the first quarter. UniSuper Management Pty Ltd now owns 29,193 shares of the semiconductor manufacturer’s stock worth $3,162,000 after purchasing an additional 9,953 shares during the period. Clearbridge Investments LLC bought a new position in Skyworks Solutions in the 1st quarter valued at about $38,688,000. O Shaughnessy Asset Management LLC raised its position in shares of Skyworks Solutions by 23.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,653 shares of the semiconductor manufacturer’s stock valued at $396,000 after buying an additional 689 shares in the last quarter. Finally, Lcnb Corp lifted its holdings in shares of Skyworks Solutions by 21.4% during the 1st quarter. Lcnb Corp now owns 5,285 shares of the semiconductor manufacturer’s stock worth $572,000 after acquiring an additional 930 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Skyworks Solutions Trading Down 3.3 %

Shares of SWKS stock traded down $3.85 on Wednesday, hitting $113.65. The company had a trading volume of 2,953,348 shares, compared to its average volume of 2,458,974. Skyworks Solutions, Inc. has a twelve month low of $85.06 and a twelve month high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.19. The firm has a market cap of $18.24 billion, a P/E ratio of 21.36, a P/E/G ratio of 5.63 and a beta of 1.23. The stock’s 50-day moving average is $102.77 and its two-hundred day moving average is $102.85.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. On average, equities research analysts anticipate that Skyworks Solutions, Inc. will post 5.14 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st were given a dividend of $0.68 per share. The ex-dividend date was Monday, May 20th. This represents a $2.72 dividend on an annualized basis and a yield of 2.39%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 51.13%.

Insiders Place Their Bets

In other Skyworks Solutions news, CEO Liam Griffin acquired 11,142 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $90.00 per share, with a total value of $1,002,780.00. Following the purchase, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at $9,373,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Liam Griffin bought 11,142 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $90.00 per share, with a total value of $1,002,780.00. Following the completion of the purchase, the chief executive officer now directly owns 104,153 shares in the company, valued at $9,373,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total transaction of $49,720.00. Following the completion of the sale, the vice president now directly owns 9,564 shares of the company’s stock, valued at $1,052,040. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,337 shares of company stock worth $2,399,797. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on SWKS shares. Citigroup lowered their price objective on shares of Skyworks Solutions from $85.00 to $83.00 and set a “sell” rating for the company in a research report on Thursday, May 2nd. Piper Sandler lowered their price target on Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, May 1st. Susquehanna increased their target price on shares of Skyworks Solutions from $90.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Finally, Rosenblatt Securities reduced their price target on shares of Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $107.14.

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.