Insider Selling: Skyworks Solutions Inc (SWKS) Director Sells 10,000 Shares of Stock

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Skyworks Solutions Inc (NASDAQ:SWKS) Director David J. Aldrich sold 10,000 shares of Skyworks Solutions stock in a transaction on Friday, April 26th. The stock was sold at an average price of $86.44, for a total transaction of $864,400.00. Following the transaction, the director now directly owns 210,922 shares in the company, valued at $18,232,097.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of NASDAQ:SWKS traded down $1.51 during midday trading on Friday, reaching $87.02. The company had a trading volume of 2,207,346 shares, compared to its average volume of 1,916,978. The company has a market capitalization of $15.05 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.36 and a beta of 0.68. Skyworks Solutions Inc has a 52-week low of $60.12 and a 52-week high of $104.20.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.12. The company had revenue of $972.00 million for the quarter, compared to the consensus estimate of $974.70 million. Skyworks Solutions had a net margin of 29.91% and a return on equity of 29.30%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 EPS. As a group, analysts predict that Skyworks Solutions Inc will post 6.01 EPS for the current year.

Skyworks Solutions declared that its Board of Directors has authorized a share buyback program on Tuesday, February 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 15.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Large investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in Skyworks Solutions by 6,143.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,733,478 shares of the semiconductor manufacturer’s stock valued at $41,000 after acquiring an additional 2,689,698 shares during the period. Norges Bank bought a new stake in Skyworks Solutions in the 4th quarter valued at about $121,517,000. Congress Asset Management Co. MA raised its stake in Skyworks Solutions by 1,249.8% in the 4th quarter. Congress Asset Management Co. MA now owns 978,386 shares of the semiconductor manufacturer’s stock valued at $65,571,000 after acquiring an additional 905,902 shares during the period. DNB Asset Management AS raised its stake in Skyworks Solutions by 2,998.1% in the 4th quarter. DNB Asset Management AS now owns 781,216 shares of the semiconductor manufacturer’s stock valued at $52,357,000 after acquiring an additional 756,000 shares during the period. Finally, FMR LLC raised its stake in Skyworks Solutions by 49.6% in the 4th quarter. FMR LLC now owns 2,146,909 shares of the semiconductor manufacturer’s stock valued at $143,886,000 after acquiring an additional 712,274 shares during the period. 82.87% of the stock is currently owned by institutional investors.

A number of equities analysts have issued reports on SWKS shares. Zacks Investment Research raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. B. Riley raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $90.00 in a report on Monday, January 28th. Loop Capital cut their price objective on shares of Skyworks Solutions to $92.00 and set a “buy” rating on the stock in a report on Thursday, January 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $84.00 price objective (down from $96.00) on shares of Skyworks Solutions in a report on Wednesday, January 9th. Finally, ValuEngine raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. Skyworks Solutions has a consensus rating of “Hold” and an average price target of $92.31.

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About Skyworks Solutions

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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