Brandywine Global Investment Management LLC Invests $11.84 Million in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Brandywine Global Investment Management LLC purchased a new position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 100,334 shares of the semiconductor manufacturer’s stock, valued at approximately $11,837,000. Brandywine Global Investment Management LLC owned 0.06% of Skyworks Solutions at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Aspire Private Capital LLC purchased a new position in Skyworks Solutions in the first quarter valued at $13,095,780,000. SouthState Corp purchased a new position in Skyworks Solutions in the first quarter valued at $26,000. Sound Income Strategies LLC boosted its holdings in Skyworks Solutions by 341.2% in the first quarter. Sound Income Strategies LLC now owns 225 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 174 shares during the period. True Wealth Design LLC purchased a new position in Skyworks Solutions in the fourth quarter valued at $26,000. Finally, Fortis Capital Advisors LLC acquired a new stake in Skyworks Solutions in the fourth quarter valued at approximately $27,000. 81.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Kris Sennesael sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $106.28, for a total value of $4,251,200.00. Following the sale, the chief financial officer now owns 87,823 shares in the company, valued at approximately $9,333,828.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Kris Sennesael sold 40,000 shares of Skyworks Solutions stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $106.28, for a total value of $4,251,200.00. Following the completion of the transaction, the chief financial officer now directly owns 87,823 shares of the company’s stock, valued at approximately $9,333,828.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Liam Griffin sold 13,211 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $104.08, for a total value of $1,375,000.88. Following the completion of the sale, the chief executive officer now directly owns 52,540 shares in the company, valued at approximately $5,468,363.20. The disclosure for this sale can be found here. In the last three months, insiders sold 58,962 shares of company stock worth $6,225,401. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SWKS. Wolfe Research began coverage on shares of Skyworks Solutions in a report on Wednesday, July 19th. They issued an “outperform” rating and a $135.00 target price on the stock. Argus reduced their target price on shares of Skyworks Solutions from $160.00 to $140.00 in a report on Wednesday, May 10th. Stifel Nicolaus dropped their target price on Skyworks Solutions from $150.00 to $130.00 in a report on Tuesday, May 9th. Susquehanna increased their target price on Skyworks Solutions from $125.00 to $130.00 and gave the company a “positive” rating in a report on Tuesday, August 8th. Finally, Craig Hallum dropped their target price on Skyworks Solutions from $130.00 to $125.00 in a report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.27.

Skyworks Solutions Trading Up 0.9 %

NASDAQ SWKS traded up $0.94 during mid-day trading on Monday, hitting $109.68. The company’s stock had a trading volume of 933,400 shares, compared to its average volume of 1,787,338. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.83 and a quick ratio of 2.31. The firm has a market capitalization of $17.48 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The stock’s fifty day simple moving average is $109.60 and its two-hundred day simple moving average is $108.90. Skyworks Solutions, Inc. has a 52-week low of $76.16 and a 52-week high of $123.69.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Monday, August 7th. The semiconductor manufacturer reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.30. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Skyworks Solutions had a net margin of 20.97% and a return on equity of 23.89%. The business’s quarterly revenue was down 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 earnings per share. Research analysts expect that Skyworks Solutions, Inc. will post 7.45 EPS for the current year.

Skyworks Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 29th will be paid a dividend of $0.68 per share. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.62. This represents a $2.72 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Monday, August 28th. Skyworks Solutions’s dividend payout ratio is 41.91%.

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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.