Patton Albertson Miller Group LLC Reduces Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Patton Albertson Miller Group LLC trimmed its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,580 shares of the semiconductor manufacturer’s stock after selling 506 shares during the period. Patton Albertson Miller Group LLC’s holdings in Skyworks Solutions were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Skyworks Solutions by 98.1% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 313 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 155 shares during the period. Milestone Investment Advisors LLC bought a new position in Skyworks Solutions in the third quarter valued at about $34,000. AdvisorNet Financial Inc boosted its position in Skyworks Solutions by 790.0% in the fourth quarter. AdvisorNet Financial Inc now owns 356 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 316 shares during the last quarter. West Branch Capital LLC grew its stake in shares of Skyworks Solutions by 8,000.0% during the 4th quarter. West Branch Capital LLC now owns 405 shares of the semiconductor manufacturer’s stock valued at $46,000 after purchasing an additional 400 shares during the period. Finally, Avior Wealth Management LLC increased its position in shares of Skyworks Solutions by 47.9% during the 4th quarter. Avior Wealth Management LLC now owns 420 shares of the semiconductor manufacturer’s stock valued at $47,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, CEO Liam Griffin bought 11,142 shares of Skyworks Solutions stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the acquisition, the chief executive officer now directly owns 104,153 shares in the company, valued at approximately $9,373,770. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SWKS shares. KeyCorp downgraded shares of Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research report on Monday, April 8th. B. Riley raised their target price on Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Wells Fargo & Company cut their price target on Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Citigroup decreased their price objective on Skyworks Solutions from $85.00 to $83.00 and set a “sell” rating on the stock in a research note on Thursday, May 2nd. Finally, Piper Sandler lowered their price objective on Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $108.86.

Skyworks Solutions Price Performance

Shares of SWKS traded down $0.99 during mid-day trading on Thursday, hitting $92.25. 2,366,932 shares of the stock were exchanged, compared to its average volume of 2,404,428. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.19. The company has a market cap of $14.80 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 3.97 and a beta of 1.35. Skyworks Solutions, Inc. has a 52-week low of $85.06 and a 52-week high of $115.69. The firm has a 50-day moving average of $102.52 and a two-hundred day moving average of $101.76.

Skyworks Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Monday, May 20th. Skyworks Solutions’s payout ratio is 51.13%.

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.