Victory Capital Management Inc. Lowers Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Victory Capital Management Inc. cut its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 90.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 301,785 shares of the semiconductor manufacturer’s stock after selling 2,978,434 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of Skyworks Solutions worth $29,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SWKS. Vanguard Group Inc. lifted its holdings in shares of Skyworks Solutions by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after acquiring an additional 745,374 shares during the period. Vulcan Value Partners LLC raised its stake in Skyworks Solutions by 38.8% during the second quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock worth $481,552,000 after purchasing an additional 1,262,964 shares during the period. Pzena Investment Management LLC raised its stake in Skyworks Solutions by 19.3% during the second quarter. Pzena Investment Management LLC now owns 4,090,292 shares of the semiconductor manufacturer’s stock worth $435,943,000 after purchasing an additional 661,144 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Skyworks Solutions by 54.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock valued at $370,768,000 after purchasing an additional 1,233,618 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Skyworks Solutions by 10.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,998,480 shares of the semiconductor manufacturer’s stock valued at $212,993,000 after buying an additional 190,000 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Skyworks Solutions

In other news, SVP Robert John Terry sold 1,821 shares of Skyworks Solutions stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $90.16, for a total value of $164,181.36. Following the completion of the transaction, the senior vice president now owns 24,567 shares in the company, valued at approximately $2,214,960.72. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the sale, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. This represents a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,841 shares of company stock valued at $3,034,265 over the last three months. 0.34% of the stock is owned by insiders.

Skyworks Solutions Price Performance

SWKS stock opened at $83.69 on Friday. The company has a market capitalization of $13.37 billion, a PE ratio of 22.62, a P/E/G ratio of 1.53 and a beta of 1.21. The company has a quick ratio of 4.29, a current ratio of 3.01 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $95.14 and its two-hundred day moving average is $100.16. Skyworks Solutions, Inc. has a 52-week low of $82.13 and a 52-week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last issued 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 net margin of 14.27% and a return on equity of 13.71%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The business’s revenue was down 15.9% compared to the same quarter last year. Analysts predict that Skyworks Solutions, Inc. will post 5.39 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid a $0.70 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. Skyworks Solutions’s dividend payout ratio (DPR) is 75.68%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SWKS shares. Craig Hallum reduced their target price on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday. Rosenblatt Securities lifted their price objective on Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Piper Sandler dropped their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday. Citigroup reduced their price target on shares of Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating on the stock in a research report on Wednesday. Finally, Susquehanna dropped their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $101.00.

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.