Skyworks Solutions (SWKS) Shares Gap Down Following Insider Selling

Skyworks Solutions Inc (NASDAQ:SWKS) shares gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $91.55, but opened at $89.49. Skyworks Solutions shares last traded at $85.27, with a volume of 2690400 shares changing hands.

Specifically, Director David J. Aldrich sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $86.25, for a total value of $258,750.00. Following the completion of the transaction, the director now owns 144,251 shares of the company’s stock, valued at approximately $12,441,648.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David J. Aldrich sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $93.03, for a total transaction of $930,300.00. Following the completion of the transaction, the director now directly owns 152,252 shares of the company’s stock, valued at approximately $14,164,003.56. The disclosure for this sale can be found here. In the last three months, insiders sold 44,500 shares of company stock valued at $4,056,350. Corporate insiders own 0.47% of the company’s stock.

A number of equities research analysts have recently weighed in on SWKS shares. ValuEngine lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Barclays lowered their price objective on shares of Skyworks Solutions from $120.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, October 23rd. Morgan Stanley lowered their price objective on shares of Skyworks Solutions from $80.00 to $79.00 and set an “underweight” rating for the company in a report on Wednesday, October 3rd. BidaskClub upgraded shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Finally, Zacks Investment Research lowered shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $114.10.

The firm has a market cap of $15.15 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 0.84 and a beta of 0.60.

A number of large investors have recently bought and sold shares of the stock. Vulcan Value Partners LLC raised its holdings in Skyworks Solutions by 21.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 6,581,779 shares of the semiconductor manufacturer’s stock valued at $636,129,000 after buying an additional 1,179,670 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Skyworks Solutions by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,072,364 shares of the semiconductor manufacturer’s stock valued at $296,944,000 after buying an additional 185,039 shares during the last quarter. Manning & Napier Group LLC raised its holdings in Skyworks Solutions by 2.0% during the 2nd quarter. Manning & Napier Group LLC now owns 1,451,579 shares of the semiconductor manufacturer’s stock valued at $140,293,000 after buying an additional 28,220 shares during the last quarter. First Trust Advisors LP raised its holdings in Skyworks Solutions by 31.1% during the 3rd quarter. First Trust Advisors LP now owns 1,391,837 shares of the semiconductor manufacturer’s stock valued at $126,254,000 after buying an additional 330,404 shares during the last quarter. Finally, Platinum Investment Management Ltd. raised its holdings in Skyworks Solutions by 0.4% during the 2nd quarter. Platinum Investment Management Ltd. now owns 1,118,760 shares of the semiconductor manufacturer’s stock valued at $108,128,000 after buying an additional 5,000 shares during the last quarter. Institutional investors own 80.49% of the company’s stock.

About Skyworks Solutions (NASDAQ:SWKS)

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, 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 shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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