Skyworks Solutions (NASDAQ:SWKS) Shares Gap Down – Time to Sell?

by · The Markets Daily

Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $97.80, but opened at $93.66. Skyworks Solutions shares last traded at $95.65, with a volume of 364,935 shares traded.

Analyst Ratings Changes

SWKS has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Susquehanna restated a “neutral” rating and issued a $125.00 price target on shares of Skyworks Solutions in a report on Wednesday, July 31st. The Goldman Sachs Group upgraded shares of Skyworks Solutions to a “hold” rating in a research note on Wednesday, July 31st. Piper Sandler restated a “neutral” rating and issued a $115.00 target price (up from $95.00) on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Finally, Rosenblatt Securities upped their price target on Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $112.53.

Check Out Our Latest Report on SWKS

Skyworks Solutions Trading Up 0.9 %

The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The firm has a market cap of $15.54 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 4.38 and a beta of 1.20. The company has a fifty day moving average price of $101.46 and a 200-day moving average price of $102.15.

Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. The company had revenue of $905.50 million during the quarter, compared to the consensus estimate of $900.41 million. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. Skyworks Solutions’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 earnings per share. As a group, research analysts expect that Skyworks Solutions, Inc. will post 5.21 EPS for the current year.

Skyworks Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.70 per share. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Tuesday, August 20th. Skyworks Solutions’s dividend payout ratio is presently 57.73%.

Insider Activity

In related news, 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 value of $950,462.37. Following the completion of the transaction, the senior vice president now owns 37,203 shares of the company’s stock, valued at approximately $3,793,589.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Reza Kasnavi sold 1,843 shares of Skyworks Solutions stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $107.47, for a total value of $198,067.21. Following the sale, the senior vice president now owns 17,455 shares in the company, valued at $1,875,888.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Carlos S. Bori sold 9,321 shares of the business’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 sale, the senior vice president now directly owns 37,203 shares of the company’s stock, valued at $3,793,589.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,616 shares of company stock worth $1,202,770 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

Several institutional investors have recently bought and sold shares of SWKS. Sequoia Financial Advisors LLC lifted its position in shares of 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 acquiring an additional 87 shares in the last quarter. HB Wealth Management LLC boosted its stake in Skyworks Solutions by 3.0% during the 1st quarter. HB Wealth Management LLC now owns 3,219 shares of the semiconductor manufacturer’s stock worth $349,000 after purchasing an additional 94 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in shares of Skyworks Solutions by 14.8% during the second quarter. AlphaMark Advisors LLC now owns 777 shares of the semiconductor manufacturer’s stock worth $83,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Skyworks Solutions by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,776 shares of the semiconductor manufacturer’s stock worth $1,468,000 after buying an additional 100 shares in the last quarter. Finally, Zega Financial LLC raised its position in shares of Skyworks Solutions by 5.0% in the second quarter. Zega Financial LLC now owns 2,100 shares of the semiconductor manufacturer’s stock valued at $224,000 after buying an additional 100 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

About Skyworks Solutions

(Get Free Report)

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.

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