Ridgewood Investments LLC Buys New Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Ridgewood Investments LLC bought a new stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 673 shares of the semiconductor manufacturer’s stock, valued at approximately $60,000.

Several other hedge funds have also modified their holdings of SWKS. Vulcan Value Partners LLC raised its holdings in shares of Skyworks Solutions by 38.8% during 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 buying an additional 1,262,964 shares during the period. Pacer Advisors Inc. increased its holdings in Skyworks Solutions by 54.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock worth $370,768,000 after purchasing an additional 1,233,618 shares during the last quarter. Barclays PLC increased its holdings in Skyworks Solutions by 96.4% during the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock worth $191,023,000 after purchasing an additional 949,407 shares during the last quarter. Wellington Management Group LLP increased its holdings in Skyworks Solutions by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock worth $223,994,000 after purchasing an additional 775,470 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its holdings in Skyworks Solutions by 5,769.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 726,005 shares of the semiconductor manufacturer’s stock worth $71,708,000 after purchasing an additional 713,636 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Skyworks Solutions Trading Down 2.6 %

NASDAQ:SWKS opened at $90.20 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. Skyworks Solutions, Inc. has a 12-month low of $82.13 and a 12-month high of $120.86. The business has a 50 day simple moving average of $88.30 and a 200 day simple moving average of $98.33. The firm has a market capitalization of $14.42 billion, a P/E ratio of 24.38, a P/E/G ratio of 2.01 and a beta of 1.15.

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. Equities research analysts predict that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 75.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SWKS shares. Piper Sandler dropped their price objective on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Craig Hallum dropped their price objective on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Citigroup lifted their price objective on Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a report on Friday. Susquehanna dropped their price objective on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Finally, Loop Capital started coverage on Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 price target for the company. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $101.71.

Insiders Place Their Bets

In other news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction 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 in the company, valued at $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 27,026 shares of the company’s stock, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,520 shares of company stock worth $2,083,803. 0.34% of the stock is owned by company insiders.

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.