Cadence Bank Sells 168 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Cadence Bank trimmed its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 2.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,117 shares of the semiconductor manufacturer’s stock after selling 168 shares during the quarter. Cadence Bank’s holdings in Skyworks Solutions were worth $802,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SWKS. O Shaughnessy Asset Management LLC raised its stake in shares of Skyworks Solutions by 23.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,653 shares of the semiconductor manufacturer’s stock worth $396,000 after buying an additional 689 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Skyworks Solutions by 1.9% during the first quarter. Janus Henderson Group PLC now owns 20,863 shares of the semiconductor manufacturer’s stock valued at $2,259,000 after purchasing an additional 394 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Skyworks Solutions during the first quarter valued at approximately $930,000. B. Riley Wealth Advisors Inc. grew its holdings in Skyworks Solutions by 14.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,108 shares of the semiconductor manufacturer’s stock valued at $306,000 after purchasing an additional 383 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Skyworks Solutions by 1.3% during the first quarter. California State Teachers Retirement System now owns 259,934 shares of the semiconductor manufacturer’s stock valued at $28,156,000 after purchasing an additional 3,446 shares during the period. 85.43% of the stock is owned by institutional investors.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $86.80 on Thursday. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average price is $93.09 and its two-hundred day moving average price is $99.89. Skyworks Solutions, Inc. has a 1 year low of $82.13 and a 1 year high of $120.86. The firm has a market capitalization of $13.88 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last issued 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. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The company’s revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 earnings per share. As a group, research analysts anticipate that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions’s payout ratio is presently 75.68%.

Insider Activity

In other news, SVP Carlos S. Bori sold 10,177 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the transaction, the senior vice president now directly owns 27,026 shares of the company’s stock, valued at $2,638,548.38. This represents a 27.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert John Terry sold 1,821 shares of the company’s 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 transaction, the senior vice president now owns 24,567 shares in the company, valued at $2,214,960.72. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,841 shares of company stock valued at $3,034,265 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SWKS shares. Stifel Nicolaus boosted their price objective on shares of Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Susquehanna reduced their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, November 13th. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. Finally, Morgan Stanley reduced their target price on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.00.

Skyworks Solutions 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.