Geode Capital Management LLC Raises Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Geode Capital Management LLC lifted its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,143,639 shares of the semiconductor manufacturer’s stock after acquiring an additional 28,009 shares during the quarter. Geode Capital Management LLC owned 2.59% of Skyworks Solutions worth $408,410,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SWKS. Vulcan Value Partners LLC increased its position in Skyworks Solutions by 38.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock worth $481,552,000 after purchasing an additional 1,262,964 shares during the period. Pacer Advisors Inc. grew its holdings in Skyworks Solutions by 54.9% during the second quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock worth $370,768,000 after acquiring an additional 1,233,618 shares during the period. Barclays PLC raised its position in Skyworks Solutions by 96.4% in 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. Wellington Management Group LLP lifted its holdings in Skyworks Solutions by 52.0% in the third quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock valued at $223,994,000 after acquiring an additional 775,470 shares during the period. Finally, Mizuho Securities USA LLC lifted its holdings in Skyworks Solutions by 5,769.6% in the third quarter. Mizuho Securities USA LLC now owns 726,005 shares of the semiconductor manufacturer’s stock valued at $71,708,000 after acquiring an additional 713,636 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions Price Performance

Shares of NASDAQ:SWKS opened at $90.98 on Friday. The company has a market cap of $14.55 billion, a P/E ratio of 24.59, a P/E/G ratio of 1.98 and a beta of 1.19. The business has a fifty day simple moving average of $90.59 and a 200-day simple moving average of $99.34. Skyworks Solutions, Inc. has a 52 week low of $82.13 and a 52 week high of $120.86. The company has a quick ratio of 4.24, a current ratio of 5.54 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 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company posted $1.95 EPS. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. Equities research analysts forecast that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Announces Dividend

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. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. Skyworks Solutions’s payout ratio is 75.68%.

Insider Buying and Selling

In other news, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the transaction, the senior vice president now directly owns 15,960 shares in the company, valued at $1,404,639.60. This trade represents a 39.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $97.63, for a total value of $993,580.51. Following the sale, the senior vice president now owns 27,026 shares of the company’s stock, valued at $2,638,548.38. The trade was a 27.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,520 shares of company stock valued at $2,083,803. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SWKS has been the subject of a number of research analyst reports. Susquehanna reduced their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. B. Riley reduced their price target on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. JPMorgan Chase & Co. lowered their price target on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Morgan Stanley reduced their price objective on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a report on Wednesday, November 13th. Finally, Loop Capital began coverage on Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 target price on the stock. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $101.00.

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.