Insider Selling: Skyworks Solutions Inc (NASDAQ:SWKS) Director Sells $990,700.00 in Stock

Skyworks Solutions Inc (NASDAQ:SWKS) Director David J. Aldrich sold 10,000 shares of Skyworks Solutions stock in a transaction on Friday, November 8th. The stock was sold at an average price of $99.07, for a total transaction of $990,700.00. Following the sale, the director now owns 213,032 shares of the company’s stock, valued at $21,105,080.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NASDAQ SWKS opened at $98.75 on Friday. The company has a market capitalization of $17.24 billion, a PE ratio of 17.29, a P/E/G ratio of 2.11 and a beta of 1.06. The company has a fifty day moving average of $88.35 and a 200 day moving average of $80.43. Skyworks Solutions Inc has a 1 year low of $60.12 and a 1 year high of $102.87.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.02. Skyworks Solutions had a net margin of 26.10% and a return on equity of 26.60%. The company had revenue of $827.00 million during the quarter, compared to the consensus estimate of $824.01 million. During the same period in the previous year, the firm posted $1.94 earnings per share. The firm’s quarterly revenue was down 18.0% on a year-over-year basis. As a group, equities analysts predict that Skyworks Solutions Inc will post 5.82 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MUFG Americas Holdings Corp purchased a new position in Skyworks Solutions in the third quarter valued at $39,000. Cetera Advisor Networks LLC increased its holdings in Skyworks Solutions by 23.2% in the third quarter. Cetera Advisor Networks LLC now owns 3,456 shares of the semiconductor manufacturer’s stock valued at $275,000 after buying an additional 650 shares in the last quarter. Provident Investment Management Inc. increased its holdings in Skyworks Solutions by 10.2% in the third quarter. Provident Investment Management Inc. now owns 320,466 shares of the semiconductor manufacturer’s stock valued at $25,397,000 after buying an additional 29,593 shares in the last quarter. BancorpSouth Bank increased its holdings in Skyworks Solutions by 2.5% in the third quarter. BancorpSouth Bank now owns 10,770 shares of the semiconductor manufacturer’s stock valued at $854,000 after buying an additional 265 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Skyworks Solutions in the third quarter valued at $32,000. 82.01% of the stock is owned by institutional investors.

Several research firms have recently commented on SWKS. JPMorgan Chase & Co. lifted their price objective on shares of Skyworks Solutions from $82.00 to $102.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America lifted their price objective on shares of Skyworks Solutions from $80.00 to $92.00 and gave the stock an “underperform” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Skyworks Solutions from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 7th. ValuEngine upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $82.00 to $102.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $99.62.

Skyworks Solutions Company Profile

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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