Vest Financial LLC Purchases Shares of 1,921 Skyworks Solutions, Inc. (NASDAQ:SWKS)

Vest Financial LLC acquired a new position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 1,921 shares of the semiconductor manufacturer’s stock, valued at approximately $205,000.

Other large investors also recently bought and sold shares of the company. Pzena Investment Management LLC purchased a new position in Skyworks Solutions in the fourth quarter valued at approximately $302,309,000. Norges Bank acquired a new position in Skyworks Solutions during the 4th quarter worth approximately $226,266,000. Swedbank AB purchased a new stake in shares of Skyworks Solutions during the first quarter valued at approximately $110,086,000. Vanguard Group Inc. lifted its position in shares of Skyworks Solutions by 4.0% during the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after purchasing an additional 745,374 shares in the last quarter. Finally, KBC Group NV boosted its position in Skyworks Solutions by 2,156.7% in the 4th quarter. KBC Group NV now owns 440,372 shares of the semiconductor manufacturer’s stock valued at $49,506,000 after buying an additional 420,858 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Insider Buying and Selling

In related news, SVP Carlos S. Bori sold 9,321 shares of Skyworks Solutions stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total value of $950,462.37. Following the sale, the senior vice president now directly owns 37,203 shares in the company, valued at approximately $3,793,589.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Carlos S. Bori sold 9,321 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the sale, the senior vice president now directly owns 37,203 shares in the company, valued at approximately $3,793,589.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Reza Kasnavi sold 1,843 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the transaction, the senior vice president now owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. The disclosure for this sale can be found here. Insiders have sold a total of 12,068 shares of company stock valued at $1,252,490 in the last quarter. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

SWKS has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Skyworks Solutions from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Rosenblatt Securities increased their target price on Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. B. Riley raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and raised their price target for the stock from $96.00 to $130.00 in a research report on Thursday, June 20th. Piper Sandler reaffirmed a “neutral” rating and issued a $115.00 price target (up from $95.00) on shares of Skyworks Solutions in a report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Skyworks Solutions has an average rating of “Hold” and a consensus price target of $113.94.

Skyworks Solutions Stock Performance

Shares of SWKS stock opened at $102.47 on Friday. The company has a market cap of $16.37 billion, a P/E ratio of 19.26, a PEG ratio of 4.71 and a beta of 1.21. The business has a 50 day moving average of $107.89 and a two-hundred day moving average of $103.22. Skyworks Solutions, Inc. has a 52 week low of $85.06 and a 52 week high of $120.86. 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 announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.21. The business had revenue of $905.50 million for the quarter, compared to the consensus estimate of $900.41 million. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The business’s revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. As a group, analysts anticipate that Skyworks Solutions, Inc. will post 5.21 EPS for the current year.

Skyworks Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.73%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s dividend payout ratio is currently 52.63%.

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.