Fulton Bank N.A. Sells 117 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Posted by Defense World Staff on Mar 19th, 2023

Skyworks Solutions logo Fulton Bank N.A. trimmed its position in Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,702 shares of the semiconductor manufacturer’s stock after selling 117 shares during the period. Fulton Bank N.A.’s holdings in Skyworks Solutions were worth $337,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Skyworks Solutions by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 1,881,957 shares of the semiconductor manufacturer’s stock valued at $160,476,000 after acquiring an additional 52,897 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Skyworks Solutions in the third quarter valued at about $1,611,000. Allspring Global Investments Holdings LLC increased its position in Skyworks Solutions by 1,570.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 162,067 shares of the semiconductor manufacturer’s stock worth $13,819,000 after buying an additional 152,366 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in Skyworks Solutions by 1.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 72,130 shares of the semiconductor manufacturer’s stock worth $6,151,000 after buying an additional 965 shares during the last quarter. Finally, Capital Analysts LLC increased its position in Skyworks Solutions by 67.0% during the second quarter. Capital Analysts LLC now owns 581 shares of the semiconductor manufacturer’s stock worth $54,000 after buying an additional 233 shares during the last quarter. 75.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Craig Hallum boosted their price target on Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, February 7th. Credit Suisse Group boosted their price target on Skyworks Solutions from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 7th. Benchmark boosted their price target on Skyworks Solutions from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, February 7th. TheStreet raised Skyworks Solutions from a “c+” rating to a “b-” rating in a research report on Thursday, February 9th. Finally, Needham & Company LLC upped their target price on Skyworks Solutions from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.35.

Insider Activity

In other news, SVP Karilee A. Durham sold 2,716 shares of the stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $110.00, for a total value of $298,760.00. Following the completion of the transaction, the senior vice president now directly owns 13,428 shares in the company, valued at approximately $1,477,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Karilee A. Durham sold 2,716 shares of the stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $110.00, for a total value of $298,760.00. Following the completion of the transaction, the senior vice president now directly owns 13,428 shares in the company, valued at approximately $1,477,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Reza Kasnavi sold 3,000 shares of the stock in a transaction on Friday, February 10th. The shares were sold at an average price of $120.03, for a total value of $360,090.00. Following the completion of the sale, the senior vice president now owns 16,994 shares of the company’s stock, valued at $2,039,789.82. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Skyworks Solutions Stock Down 1.4 %

NASDAQ SWKS opened at $114.07 on Friday. The business has a fifty day moving average price of $111.20 and a two-hundred day moving average price of $98.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.79 and a quick ratio of 1.75. Skyworks Solutions, Inc. has a fifty-two week low of $76.16 and a fifty-two week high of $141.26. The stock has a market capitalization of $18.13 billion, a PE ratio of 15.56, a PEG ratio of 0.94 and a beta of 1.29.

Skyworks Solutions (NASDAQ:SWKS – Get Rating) last released its earnings results on Monday, February 6th. The semiconductor manufacturer reported $2.59 earnings per share for the quarter, hitting the consensus estimate of $2.59. Skyworks Solutions had a return on equity of 28.65% and a net margin of 22.33%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $2.90 earnings per share. The company’s quarterly revenue was down 12.0% on a year-over-year basis. Equities analysts expect that Skyworks Solutions, Inc. will post 8.21 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 21st. Stockholders of record on Tuesday, February 28th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, February 27th. Skyworks Solutions’s payout ratio is 33.83%.

Skyworks Solutions announced that its board has authorized a share buyback plan on Monday, February 6th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 11.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Skyworks Solutions Company Profile

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Skyworks Solutions, Inc engages in the design, development, and manufacture of proprietary semiconductor products. Its products include amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, receivers, switches, and technical ceramics.