Institute for Wealth Management LLC. Sells 767 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Institute for Wealth Management LLC. cut its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 12.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,501 shares of the semiconductor manufacturer’s stock after selling 767 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Skyworks Solutions were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in Skyworks Solutions by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,831,154 shares of the semiconductor manufacturer’s stock valued at $477,173,000 after purchasing an additional 176,070 shares during the last quarter. Geode Capital Management LLC lifted its position in Skyworks Solutions by 0.7% during the third quarter. Geode Capital Management LLC now owns 4,143,639 shares of the semiconductor manufacturer’s stock valued at $408,410,000 after purchasing an additional 28,009 shares during the last quarter. FMR LLC raised its stake in shares of Skyworks Solutions by 7.3% during the third quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer’s stock worth $265,853,000 after acquiring an additional 182,130 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Skyworks Solutions by 52.0% during the third quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock worth $223,994,000 after acquiring an additional 775,470 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Skyworks Solutions by 96.4% during the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock worth $191,023,000 after acquiring an additional 949,407 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

Insider Transactions at Skyworks Solutions

In other news, SVP Robert John Terry sold 10,522 shares of the company’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 sale, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This represents a 39.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

SWKS has been the topic of several research reports. B. Riley decreased their price target on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Benchmark reissued a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, November 13th. Barclays decreased their price target on shares of Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Piper Sandler decreased their price target on shares of 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, Susquehanna decreased their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $101.12.

Skyworks Solutions Stock Down 0.7 %

Shares of NASDAQ SWKS opened at $88.76 on Friday. 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, Inc. has a 12 month low of $82.13 and a 12 month high of $120.86. The firm has a market capitalization of $14.27 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. The firm has a fifty day simple moving average of $89.84 and a two-hundred day simple moving average of $96.52.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping the consensus estimate of $1.52 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.95 EPS. Equities analysts expect that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

Skyworks Solutions Company 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.