Skyworks Solutions, Inc. (NASDAQ:SWKS) Sees Large Growth in Short Interest

Skyworks Solutions, Inc. (NASDAQ:SWKS) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 8,510,000 shares, an increase of 28.4% from the October 15th total of 6,630,000 shares. Approximately 5.4% of the company’s stock are short sold. Based on an average trading volume of 1,980,000 shares, the days-to-cover ratio is currently 4.3 days.

Insider Buying and Selling

In other news, SVP Robert John Terry sold 1,821 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the completion of the transaction, the senior vice president now directly owns 24,567 shares of the company’s stock, valued at $2,214,960.72. This represents a 6.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Carlos S. Bori sold 10,177 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the completion of the transaction, the senior vice president now owns 27,026 shares in the company, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,841 shares of company stock worth $3,034,265 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of Skyworks Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Forsta AP Fonden lifted its position in Skyworks Solutions by 27.0% during the 3rd quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer’s stock worth $3,674,000 after buying an additional 7,900 shares in the last quarter. Versor Investments LP raised its holdings in shares of Skyworks Solutions by 115.3% during the 3rd quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock worth $1,966,000 after buying an additional 10,658 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Skyworks Solutions by 73.3% in the first quarter. Advisors Asset Management Inc. now owns 16,067 shares of the semiconductor manufacturer’s stock worth $1,740,000 after acquiring an additional 6,795 shares during the last quarter. Van ECK Associates Corp boosted its position in Skyworks Solutions by 25.3% in the third quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock valued at $152,915,000 after buying an additional 325,672 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of Skyworks Solutions during the 2nd quarter valued at $797,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions Stock Down 0.4 %

NASDAQ SWKS traded down $0.31 during trading on Friday, reaching $83.69. The company’s stock had a trading volume of 3,278,939 shares, compared to its average volume of 2,401,136. The stock has a market capitalization of $13.37 billion, a PE ratio of 22.62, a PEG ratio of 1.53 and a beta of 1.21. Skyworks Solutions has a 1-year low of $82.13 and a 1-year high of $120.86. The business has a 50-day moving average price of $95.14 and a 200-day moving average price of $100.20. The company has a current ratio of 3.01, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business earned $1.95 earnings per share. Skyworks Solutions’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, research analysts forecast that Skyworks Solutions will post 5.39 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, December 3rd. Skyworks Solutions’s payout ratio is 75.68%.

Analyst Upgrades and Downgrades

SWKS has been the topic of a number of recent analyst reports. Craig Hallum decreased their target price on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday. Robert W. Baird raised their price objective on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Loop Capital began coverage on shares of Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 target price for the company. Piper Sandler cut their price target on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $101.00.

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.