Arete Wealth Advisors LLC Decreases Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Arete Wealth Advisors LLC lowered its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 6.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,440 shares of the semiconductor manufacturer’s stock after selling 165 shares during the period. Arete Wealth Advisors LLC’s holdings in Skyworks Solutions were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its holdings in Skyworks Solutions by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock valued at $239,000 after purchasing an additional 87 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Skyworks Solutions by 3.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 23,666 shares of the semiconductor manufacturer’s stock valued at $2,522,000 after purchasing an additional 741 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Skyworks Solutions by 14.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,936 shares of the semiconductor manufacturer’s stock valued at $1,059,000 after buying an additional 1,284 shares during the last quarter. Blue Trust Inc. grew its position in shares of Skyworks Solutions by 79.7% during the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 149 shares in the last quarter. Finally, First Citizens Bank & Trust Co. increased its stake in shares of Skyworks Solutions by 4.1% in the second quarter. First Citizens Bank & Trust Co. now owns 5,712 shares of the semiconductor manufacturer’s stock worth $609,000 after buying an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

SWKS has been the topic of a number of research analyst reports. Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, November 13th. Loop Capital began coverage on shares of Skyworks Solutions in a research report on Monday, November 11th. They set a “hold” rating and a $90.00 price target on the stock. Citigroup lowered their price objective on Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating for the company in a report on Wednesday, November 13th. Piper Sandler reduced their target price on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Finally, Morgan Stanley lowered their price target on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $101.00.

Insider Buying and Selling at Skyworks Solutions

In related news, SVP Carlos S. Bori sold 10,177 shares of the firm’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 transaction of $993,580.51. Following the transaction, the senior vice president now owns 27,026 shares in the company, valued at $2,638,548.38. This trade represents a 27.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the sale, the senior vice president now owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,520 shares of company stock valued at $2,083,803. Company insiders own 0.34% of the company’s stock.

Skyworks Solutions Stock Performance

Shares of NASDAQ SWKS opened at $90.98 on Friday. Skyworks Solutions, Inc. has a 12-month low of $82.13 and a 12-month high of $120.86. The company has a market cap of $14.55 billion, a PE ratio of 24.59, a P/E/G ratio of 2.01 and a beta of 1.19. The stock has a 50 day simple moving average of $90.59 and a 200-day simple moving average of $99.39. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last announced 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 return on equity of 13.71% and a net margin of 14.27%. The company 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 posted $1.95 EPS. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. On average, equities research analysts forecast that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given 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 3.08%. 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.