Cary Street Partners Investment Advisory LLC lifted its position in Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report) by 242.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,950 shares of the semiconductor manufacturer’s stock after buying an additional 1,381 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Skyworks Solutions were worth $216,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. SouthState Corp bought a new position in shares of Skyworks Solutions during the 1st quarter valued at about $26,000. True Wealth Design LLC bought a new stake in Skyworks Solutions during the fourth quarter worth approximately $26,000. Fortis Capital Advisors LLC acquired a new position in Skyworks Solutions in the fourth quarter worth approximately $27,000. Milestone Investment Advisors LLC bought a new position in shares of Skyworks Solutions in the first quarter valued at $41,000. Finally, Vestor Capital LLC bought a new stake in shares of Skyworks Solutions during the 1st quarter worth $45,000. Institutional investors and hedge funds own 81.39% of the company’s stock.
Insider Buying and Selling
In other Skyworks Solutions news, SVP Robert John Terry sold 3,156 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $88.18, for a total value of $278,296.08. Following the sale, the senior vice president now owns 11,487 shares of the company’s stock, valued at approximately $1,012,923.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Skyworks Solutions news, SVP Robert John Terry sold 3,156 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $88.18, for a total transaction of $278,296.08. Following the completion of the transaction, the senior vice president now owns 11,487 shares in the company, valued at $1,012,923.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Reza Kasnavi sold 3,873 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $89.09, for a total value of $345,045.57. Following the completion of the sale, the senior vice president now owns 24,367 shares in the company, valued at $2,170,856.03. The disclosure for this sale can be found here. Insiders sold a total of 65,988 shares of company stock valued at $6,615,678 over the last ninety days. 0.34% of the stock is owned by company insiders.
Skyworks Solutions Stock Up 1.3 %
Skyworks Solutions Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.87%. Skyworks Solutions’s payout ratio is 44.37%.
Analyst Ratings Changes
SWKS has been the topic of a number of recent analyst reports. BNP Paribas lowered Skyworks Solutions from an “outperform” rating to a “neutral” rating and set a $110.00 target price on the stock. in a research report on Wednesday, September 20th. Susquehanna decreased their target price on shares of Skyworks Solutions from $115.00 to $110.00 and set a “positive” rating for the company in a report on Friday, November 3rd. KeyCorp cut their price target on shares of Skyworks Solutions from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Mizuho decreased their price objective on shares of Skyworks Solutions from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th. Finally, Morgan Stanley cut their target price on shares of Skyworks Solutions from $112.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.88.
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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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