Lido Advisors LLC Buys New Shares in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Lido Advisors LLC bought a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,380 shares of the semiconductor manufacturer’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Synovus Financial Corp boosted its holdings in Skyworks Solutions by 3.3% in the second quarter. Synovus Financial Corp now owns 2,941 shares of the semiconductor manufacturer’s stock valued at $266,000 after purchasing an additional 94 shares during the period. Nicollet Investment Management Inc. boosted its holdings in Skyworks Solutions by 1.6% in the second quarter. Nicollet Investment Management Inc. now owns 7,048 shares of the semiconductor manufacturer’s stock valued at $653,000 after purchasing an additional 108 shares during the period. Johnson Financial Group Inc. boosted its holdings in Skyworks Solutions by 17.6% in the second quarter. Johnson Financial Group Inc. now owns 721 shares of the semiconductor manufacturer’s stock valued at $67,000 after purchasing an additional 108 shares during the period. Kinneret Advisory LLC boosted its holdings in Skyworks Solutions by 2.3% in the first quarter. Kinneret Advisory LLC now owns 4,818 shares of the semiconductor manufacturer’s stock valued at $642,000 after purchasing an additional 108 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Skyworks Solutions by 0.6% in the third quarter. Fifth Third Bancorp now owns 22,002 shares of the semiconductor manufacturer’s stock valued at $1,876,000 after purchasing an additional 123 shares during the period. 75.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SWKS has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Skyworks Solutions from $95.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. Craig Hallum raised their price target on Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, February 7th. Cowen raised their price target on Skyworks Solutions from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, February 7th. TheStreet upgraded Skyworks Solutions from a “c+” rating to a “b-” rating in a research note on Thursday, February 9th. Finally, Piper Sandler raised their price target on Skyworks Solutions from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, February 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.26.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $111.29 on Friday. Skyworks Solutions, Inc. has a 52-week low of $76.16 and a 52-week high of $141.26. The business’s 50-day moving average price is $109.14 and its 200 day moving average price is $98.16. The firm has a market cap of $17.69 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.90 and a beta of 1.29. The company has a quick ratio of 1.75, a current ratio of 2.79 and a debt-to-equity ratio of 0.30.

Skyworks Solutions (NASDAQ:SWKS – Get Rating) last announced its quarterly earnings data on Monday, February 6th. The semiconductor manufacturer reported $2.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.59. Skyworks Solutions had a return on equity of 28.65% and a net margin of 22.33%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company earned $2.90 EPS. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, equities research analysts expect that Skyworks Solutions, Inc. will post 8.22 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 21st. Shareholders of record on Tuesday, February 28th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Monday, February 27th. Skyworks Solutions’s dividend payout ratio is presently 33.83%.

Skyworks Solutions announced that its Board of Directors has approved a stock buyback program on Monday, February 6th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 11.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, SVP Karilee A. Durham sold 2,716 shares of Skyworks Solutions stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $110.00, for a total value of $298,760.00. Following the sale, the senior vice president now owns 13,428 shares of the company’s stock, valued at approximately $1,477,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Reza Kasnavi sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $120.03, for a total transaction of $360,090.00. Following the sale, the senior vice president now owns 16,994 shares of the company’s stock, valued at approximately $2,039,789.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Karilee A. Durham sold 2,716 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $110.00, for a total value of $298,760.00. Following the sale, the senior vice president now directly owns 13,428 shares in the company, valued at approximately $1,477,080. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,216 shares of company stock valued at $1,010,950. 0.31% of the stock is owned by corporate insiders.

Skyworks Solutions Company Profile

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Skyworks Solutions, Inc engages in the design, development, and manufacture of proprietary semiconductor products. Its products include amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, receivers, switches, and technical ceramics.