Skyworks Solutions (NASDAQ:SWKS) Shares Gap Down After Insider Selling

Skyworks Solutions Inc (NASDAQ:SWKS) shares gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $75.12, but opened at $73.35. Skyworks Solutions shares last traded at $71.80, with a volume of 1966133 shares.

Specifically, insider Peter L. Gammel sold 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $73.36, for a total transaction of $165,060.00. Following the completion of the transaction, the insider now owns 11,490 shares in the company, valued at approximately $842,906.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Liam Griffin sold 19,083 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $85.12, for a total value of $1,624,344.96. The disclosure for this sale can be found here. Insiders have sold a total of 114,214 shares of company stock valued at $9,952,065 in the last 90 days. Insiders own 0.64% of the company’s stock.

A number of research analysts recently issued reports on the company. Zacks Investment Research lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Piper Jaffray Companies reduced their price target on Skyworks Solutions from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, June 5th. Cascend Securities upgraded Skyworks Solutions from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Monday, June 10th. Craig Hallum reiterated a “buy” rating and set a $105.00 price target (up previously from $90.00) on shares of Skyworks Solutions in a research report on Friday, May 3rd. Finally, TheStreet upgraded Skyworks Solutions from a “c+” rating to a “b-” rating in a research report on Wednesday, February 27th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $87.40.

The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.04. The business had revenue of $810.40 million during the quarter, compared to analyst estimates of $809.52 million. Skyworks Solutions had a return on equity of 28.25% and a net margin of 29.06%. The company’s revenue was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 earnings per share. As a group, research analysts predict that Skyworks Solutions Inc will post 5.69 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st were issued a $0.38 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.52 annualized dividend and a dividend yield of 2.12%. Skyworks Solutions’s dividend payout ratio (DPR) is 22.93%.

Institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC acquired a new stake in shares of Skyworks Solutions in the fourth quarter valued at $25,000. JOYN Advisors Inc. lifted its holdings in shares of Skyworks Solutions by 178.8% in the fourth quarter. JOYN Advisors Inc. now owns 368 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 236 shares during the period. AdvisorNet Financial Inc lifted its holdings in shares of Skyworks Solutions by 98.5% in the fourth quarter. AdvisorNet Financial Inc now owns 405 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 201 shares during the period. Doyle Wealth Management acquired a new stake in shares of Skyworks Solutions in the fourth quarter valued at $30,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Skyworks Solutions in the first quarter valued at $38,000. Institutional investors and hedge funds own 81.08% of the company’s stock.

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About Skyworks Solutions (NASDAQ:SWKS)

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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