Skyworks Solutions, Inc. (NASDAQ:SWKS) Position Lowered by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board reduced its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 60.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,730 shares of the semiconductor manufacturer’s stock after selling 11,827 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Skyworks Solutions were worth $763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SWKS. Vulcan Value Partners LLC lifted its stake in shares of Skyworks Solutions by 38.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock valued at $481,552,000 after purchasing an additional 1,262,964 shares during the last quarter. Pzena Investment Management LLC increased its position in Skyworks Solutions by 19.3% in 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. increased its position 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 buying an additional 1,233,618 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Skyworks Solutions by 10.5% in 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 acquiring an additional 190,000 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Skyworks Solutions by 46.9% in the second quarter. AQR Capital Management LLC now owns 1,641,047 shares of the semiconductor manufacturer’s stock valued at $174,886,000 after buying an additional 523,773 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Activity

In other Skyworks Solutions news, SVP Robert John Terry sold 1,821 shares of the business’s 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 directly owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. The trade was a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the transaction, the senior vice president now owns 37,203 shares of the company’s stock, valued at approximately $3,793,589.91. This trade represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,841 shares of company stock valued at $3,034,265. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SWKS. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Craig Hallum dropped their price objective on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. TD Cowen lifted their target price on Skyworks Solutions from $90.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Piper Sandler decreased their price objective on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Finally, Loop Capital began coverage on Skyworks Solutions in a research note on Monday, November 11th. They issued a “hold” rating and a $90.00 target price on the stock. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Skyworks Solutions currently has an average rating of “Hold” and an average price target of $101.00.

Skyworks Solutions Stock Up 2.0 %

Shares of NASDAQ:SWKS opened at $85.13 on Friday. Skyworks Solutions, Inc. has a 12-month low of $82.13 and a 12-month high of $120.86. The stock has a fifty day simple moving average of $93.83 and a two-hundred day simple moving average of $99.91. The company has a current ratio of 5.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 1.84 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned $1.95 earnings per share. Skyworks Solutions’s quarterly revenue was down 15.9% compared to the same quarter last year. On average, research analysts anticipate that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

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 dividend of $0.70 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.29%. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

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.