Moors & Cabot Inc. Reduces Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Moors & Cabot Inc. decreased its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 15.3% in the third quarter, Holdings Channel reports. The fund owned 6,818 shares of the semiconductor manufacturer’s stock after selling 1,235 shares during the period. Moors & Cabot Inc.’s holdings in Skyworks Solutions were worth $673,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Innealta Capital LLC purchased a new position in Skyworks Solutions during the second quarter worth approximately $27,000. Rothschild Investment LLC acquired a new stake in shares of Skyworks Solutions in the 2nd quarter worth $27,000. Blue Trust Inc. raised its holdings in shares of Skyworks Solutions by 79.7% during the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 149 shares during the period. Matrix Trust Co acquired a new position in shares of Skyworks Solutions during the 3rd quarter valued at about $39,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Skyworks Solutions during the 3rd quarter valued at about $40,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions Trading Up 0.4 %

NASDAQ:SWKS opened at $85.41 on Friday. The company has a quick ratio of 2.19, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 52-week low of $82.13 and a 52-week high of $120.86. The stock’s 50 day moving average price is $93.49 and its 200 day moving average price is $99.86. The company has a market capitalization of $13.66 billion, a PE ratio of 23.08, a P/E/G ratio of 1.84 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.95 EPS. On average, research analysts anticipate that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio is currently 75.68%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. B. Riley reduced their target price 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. Robert W. Baird lifted their price target on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler lowered their price objective on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, November 13th. Finally, Bank of America increased their price target on Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, July 31st. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $101.00.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $101.97, for a total transaction of $950,462.37. Following the completion of the transaction, the senior vice president now owns 37,203 shares in the company, valued at approximately $3,793,589.91. This represents a 20.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert John Terry sold 1,821 shares of Skyworks Solutions stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $90.16, for a total transaction of $164,181.36. Following the completion of the sale, the senior vice president now directly owns 24,567 shares in the company, valued at approximately $2,214,960.72. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,841 shares of company stock worth $3,034,265 in the last quarter. Company insiders own 0.34% of the company’s stock.

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.