Synovus Financial Corp Raises Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Synovus Financial Corp grew its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 17.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,123 shares of the semiconductor manufacturer’s stock after buying an additional 760 shares during the quarter. Synovus Financial Corp’s holdings in Skyworks Solutions were worth $506,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Skyworks Solutions in the 2nd quarter worth $27,000. Rothschild Investment LLC purchased a new stake in shares of Skyworks Solutions in the 2nd quarter worth $27,000. Erste Asset Management GmbH purchased a new stake in shares of Skyworks Solutions in the 3rd quarter worth $27,000. Investors Research Corp lifted its holdings in shares of Skyworks Solutions by 167.7% in the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 213 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Skyworks Solutions by 79.7% in the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 149 shares during the period. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Loop Capital assumed coverage on Skyworks Solutions in a research note on Monday, November 11th. They set a “hold” rating and a $90.00 price objective for the company. Citigroup decreased their price objective on Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating for the company in a research note on Wednesday, November 13th. Morgan Stanley decreased their price objective on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 13th. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, November 13th. Finally, Barclays decreased their price objective on Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $101.00.

Skyworks Solutions Stock Down 0.0 %

Shares of SWKS stock opened at $90.74 on Wednesday. The stock’s 50-day simple moving average is $90.39 and its 200-day simple moving average is $99.45. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.24 and a current ratio of 5.54. The firm has a market capitalization of $14.51 billion, a PE ratio of 24.52, a P/E/G ratio of 2.01 and a beta of 1.19. Skyworks Solutions, Inc. has a fifty-two week low of $82.13 and a fifty-two week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share 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 analyst estimates of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The company’s revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.95 earnings per share. Equities analysts expect that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current 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 $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

Insider Buying and Selling

In related 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 transaction of $926,041.22. Following the sale, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Carlos S. Bori sold 10,177 shares of the firm’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 directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. This trade represents a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,520 shares of company stock valued at $2,083,803 over the last ninety days. 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.