Congress Wealth Management LLC DE Sells 93,412 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Posted by Defense World Staff on Sep 24th, 2023

Skyworks Solutions logo Congress Wealth Management LLC DE decreased its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report) by 95.2% in the second quarter, Holdings Channel reports. The firm owned 4,696 shares of the semiconductor manufacturer’s stock after selling 93,412 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Skyworks Solutions were worth $520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in Skyworks Solutions by 3,711.1% during the first quarter. Pacer Advisors Inc. now owns 93,257 shares of the semiconductor manufacturer’s stock worth $11,002,000 after purchasing an additional 90,810 shares during the period. Principal Financial Group Inc. raised its stake in shares of Skyworks Solutions by 2.4% in the first quarter. Principal Financial Group Inc. now owns 208,651 shares of the semiconductor manufacturer’s stock valued at $24,617,000 after acquiring an additional 4,964 shares during the last quarter. DNB Asset Management AS raised its stake in shares of Skyworks Solutions by 1,907.7% in the second quarter. DNB Asset Management AS now owns 835,475 shares of the semiconductor manufacturer’s stock valued at $92,479,000 after acquiring an additional 793,861 shares during the last quarter. Wealthfront Advisers LLC raised its stake in shares of Skyworks Solutions by 10.2% in the first quarter. Wealthfront Advisers LLC now owns 7,664 shares of the semiconductor manufacturer’s stock valued at $904,000 after acquiring an additional 710 shares during the last quarter. Finally, Krilogy Financial LLC bought a new position in shares of Skyworks Solutions in the first quarter valued at approximately $201,000. Institutional investors own 81.39% of the company’s stock.

Skyworks Solutions Trading Up 0.1 %

Shares of NASDAQ SWKS opened at $96.42 on Friday. The company’s fifty day moving average is $106.52 and its 200-day moving average is $107.44. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 0.86 and a beta of 1.28. Skyworks Solutions, Inc. has a twelve month low of $76.16 and a twelve month high of $123.69. The company has a quick ratio of 2.31, a current ratio of 3.83 and a debt-to-equity ratio of 0.23.

Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last announced its quarterly earnings results on Monday, August 7th. The semiconductor manufacturer reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.30. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Skyworks Solutions had a net margin of 20.97% and a return on equity of 23.89%. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period last year, the firm posted $2.12 earnings per share. Equities research analysts predict that Skyworks Solutions, Inc. will post 7.45 EPS for the current year.

Skyworks Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Tuesday, August 29th were given a $0.68 dividend. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.62. This represents a $2.72 annualized dividend and a yield of 2.82%. The ex-dividend date was Monday, August 28th. Skyworks Solutions’s payout ratio is currently 41.91%.

Insider Activity at Skyworks Solutions

In related news, CFO Kris Sennesael sold 40,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $106.28, for a total value of $4,251,200.00. Following the sale, the chief financial officer now directly owns 87,823 shares of the company’s stock, valued at approximately $9,333,828.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Kris Sennesael sold 40,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $106.28, for a total value of $4,251,200.00. Following the sale, the chief financial officer now directly owns 87,823 shares of the company’s stock, valued at approximately $9,333,828.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin L. Beebe sold 4,851 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $103.97, for a total transaction of $504,358.47. Following the completion of the sale, the director now directly owns 51,855 shares in the company, valued at $5,391,364.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,962 shares of company stock valued at $6,225,401. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SWKS. B. Riley lifted their target price on shares of Skyworks Solutions from $93.00 to $102.00 in a research note on Tuesday, August 8th. BNP Paribas cut shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and set a $110.00 target price for the company. in a research note on Wednesday. Morgan Stanley lifted their target price on shares of Skyworks Solutions from $104.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 8th. Barclays lowered shares of Skyworks Solutions from an “overweight” rating to an “equal weight” rating and set a $115.00 price target for the company. in a report on Thursday, July 20th. Finally, KeyCorp reissued an “overweight” rating and issued a $130.00 price target on shares of Skyworks Solutions in a report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Skyworks Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $120.88.

Check Out Our Latest Research Report on SWKS

Skyworks Solutions Company Profile

(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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.