City Center Advisors LLC Makes New Investment in Skyworks Solutions, Inc. (NASDAQ:SWKS)

City Center Advisors LLC acquired a new stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,823 shares of the semiconductor manufacturer’s stock, valued at approximately $250,000.

Several other institutional investors have also modified their holdings of the business. Acadian Asset Management LLC bought a new position in Skyworks Solutions in the second quarter valued at approximately $219,000. American Century Companies Inc. lifted its position in Skyworks Solutions by 5.7% in the 2nd quarter. American Century Companies Inc. now owns 214,931 shares of the semiconductor manufacturer’s stock valued at $22,907,000 after acquiring an additional 11,643 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Skyworks Solutions by 5.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 44,631 shares of the semiconductor manufacturer’s stock worth $4,714,000 after purchasing an additional 2,359 shares during the period. Meeder Advisory Services Inc. increased its holdings in Skyworks Solutions by 8.6% during the 2nd quarter. Meeder Advisory Services Inc. now owns 4,056 shares of the semiconductor manufacturer’s stock worth $432,000 after purchasing an additional 320 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Skyworks Solutions by 8.1% in the 2nd quarter. Federated Hermes Inc. now owns 16,823 shares of the semiconductor manufacturer’s stock valued at $1,793,000 after purchasing an additional 1,264 shares during the period. Institutional investors own 85.43% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Robert John Terry sold 10,522 shares of the stock in a transaction on 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 approximately $1,404,639.60. This represents a 39.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Skyworks Solutions Price Performance

Skyworks Solutions stock opened at $90.20 on Monday. The company has a market capitalization of $14.42 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 2.01 and a beta of 1.15. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 12 month low of $82.13 and a 12 month high of $120.86. The stock’s 50 day moving average is $88.33 and its 200-day moving average is $98.11.

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, topping the consensus estimate of $1.52 by $0.03. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.95 EPS. Equities research analysts expect that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Tuesday, December 3rd. Skyworks Solutions’s dividend payout ratio is currently 75.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. 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 research report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their price target 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, November 13th. Craig Hallum cut their price objective 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, November 13th. Citigroup raised their target price on shares of Skyworks Solutions from $72.00 to $84.00 and gave the company a “sell” rating in a research report on Friday. Finally, Mizuho cut their price target on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. 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 company’s stock. According to MarketBeat.com, Skyworks Solutions has an average rating of “Hold” and a consensus target price of $101.71.

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.