Skyworks Solutions, Inc. (NASDAQ:SWKS) Sees Significant Decline in Short Interest

Skyworks Solutions, Inc. (NASDAQ:SWKS) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 12,240,000 shares, a drop of 14.7% from the January 31st total of 14,350,000 shares. Based on an average trading volume of 2,930,000 shares, the short-interest ratio is currently 4.2 days. Approximately 7.7% of the company’s stock are sold short.

Insider Buying and Selling at Skyworks Solutions

In other news, CEO Philip G. Brace bought 10,000 shares of the stock in a transaction dated Tuesday, February 25th. The stock was bought at an average price of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $661,300. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SWKS. Erste Asset Management GmbH bought a new stake in Skyworks Solutions during the third quarter valued at $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Skyworks Solutions in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Skyworks Solutions during the 4th quarter valued at about $29,000. Picton Mahoney Asset Management purchased a new position in shares of Skyworks Solutions during the fourth quarter worth about $33,000. Finally, Investors Research Corp increased its position in shares of Skyworks Solutions by 167.7% in the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 213 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Skyworks Solutions Trading Up 2.1 %

NASDAQ:SWKS opened at $67.39 on Thursday. The company has a market cap of $10.83 billion, a P/E ratio of 20.67, a P/E/G ratio of 1.79 and a beta of 1.14. Skyworks Solutions has a 1 year low of $62.01 and a 1 year high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73. The stock’s fifty day moving average price is $81.17 and its two-hundred day moving average price is $89.97.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. As a group, analysts expect that Skyworks Solutions will post 3.7 EPS for the current year.

Skyworks Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Monday, February 24th. Skyworks Solutions’s payout ratio is 85.89%.

Wall Street Analyst Weigh In

SWKS has been the subject of several analyst reports. B. Riley lowered shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $110.00 to $65.00 in a research note on Thursday, February 6th. Citigroup increased their price target on Skyworks Solutions from $72.00 to $84.00 and gave the company a “sell” rating in a research report on Friday, January 10th. Argus cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Piper Sandler reduced their price objective on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $80.00 target price (down from $120.00) on shares of Skyworks Solutions in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.78.

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.