Sheets Smith Wealth Management Decreases Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Sheets Smith Wealth Management lessened its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,545 shares of the semiconductor manufacturer’s stock after selling 400 shares during the quarter. Sheets Smith Wealth Management’s holdings in Skyworks Solutions were worth $314,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SWKS. Erste Asset Management GmbH bought a new position in Skyworks Solutions in the third quarter valued at about $27,000. Investors Research Corp grew its position in Skyworks Solutions by 167.7% during the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 213 shares during the period. Matrix Trust Co purchased a new stake in Skyworks Solutions during the third quarter valued at approximately $39,000. Valley Wealth Managers Inc. bought a new position in Skyworks Solutions in the third quarter worth approximately $40,000. Finally, Quest Partners LLC purchased a new position in shares of Skyworks Solutions during the 3rd quarter worth $41,000. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Price Performance

Skyworks Solutions stock opened at $92.00 on Thursday. Skyworks Solutions, Inc. has a 52-week low of $82.13 and a 52-week high of $120.86. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average is $88.99 and its 200 day moving average is $97.41. The company has a market cap of $14.71 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.07 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 EPS for the quarter, beating 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 firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm earned $1.95 EPS. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. Sell-side analysts forecast that Skyworks Solutions, Inc. will post 4.45 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $2.80 annualized dividend and a yield of 3.04%. Skyworks Solutions’s payout ratio is presently 75.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler decreased 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. Morgan Stanley lowered their price objective on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 13th. Barclays reduced their target price on shares of Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Susquehanna lowered their price target on shares of 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 shares of Skyworks Solutions in a research note on Monday, November 11th. They issued a “hold” rating and a $90.00 price objective for the company. Three equities 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $101.12.

Insider Buying and Selling

In other news, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were 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 approximately $1,404,639.60. This trade represents a 39.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is owned by corporate insiders.

About Skyworks Solutions

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.