Clearbridge Investments LLC Acquires 244,368 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Clearbridge Investments LLC increased its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 37.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 890,659 shares of the semiconductor manufacturer's stock after buying an additional 244,368 shares during the period. Clearbridge Investments LLC owned 0.55% of Skyworks Solutions worth $78,984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Skyworks Solutions by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 20,341,842 shares of the semiconductor manufacturer's stock worth $1,803,915,000 after acquiring an additional 562,783 shares in the last quarter. Pzena Investment Management LLC grew its stake in Skyworks Solutions by 37.5% during the fourth quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer's stock worth $499,273,000 after purchasing an additional 1,536,289 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Skyworks Solutions by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,098,497 shares of the semiconductor manufacturer's stock worth $452,135,000 after purchasing an additional 267,343 shares in the last quarter. Geode Capital Management LLC increased its holdings in Skyworks Solutions by 0.7% in the third quarter. Geode Capital Management LLC now owns 4,143,639 shares of the semiconductor manufacturer's stock worth $408,410,000 after purchasing an additional 28,009 shares in the last quarter. Finally, FMR LLC lifted its stake in Skyworks Solutions by 7.3% in the third quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer's stock valued at $265,853,000 after buying an additional 182,130 shares during the period. Institutional investors and hedge funds own 85.43% of the company's stock.

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Analyst Ratings Changes

Several analysts have recently weighed in on SWKS shares. The Goldman Sachs Group lowered their price objective on shares of Skyworks Solutions from $92.00 to $70.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. B. Riley downgraded shares of Skyworks Solutions from a "buy" rating to a "neutral" rating and decreased their price target for the company from $110.00 to $65.00 in a research note on Thursday, February 6th. Argus lowered shares of Skyworks Solutions from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Barclays reduced their target price on Skyworks Solutions from $80.00 to $70.00 and set an "underweight" rating for the company in a research note on Friday, January 17th. Finally, Piper Sandler dropped their price target on Skyworks Solutions from $85.00 to $70.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of "Hold" and a consensus price target of $83.78.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock traded down $8.04 during mid-day trading on Thursday, hitting $56.76. 6,466,960 shares of the stock were exchanged, compared to its average volume of 2,670,321. Skyworks Solutions, Inc. has a 12 month low of $56.38 and a 12 month high of $120.86. The company has a 50-day simple moving average of $71.49 and a 200 day simple moving average of $84.68. The company has a market capitalization of $9.12 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.73 and a current ratio of 5.94.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. Sell-side analysts anticipate that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a dividend of $0.70 per share. The ex-dividend date was Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a yield of 4.93%. Skyworks Solutions's dividend payout ratio (DPR) is presently 85.89%.

Insiders Place Their Bets

In related news, CEO Philip G. Brace purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average price of $66.13 per share, with a total value of $661,300.00. Following the acquisition, the chief executive officer now owns 10,000 shares of the company's stock, valued at $661,300. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company's stock.

Skyworks Solutions Company Profile

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.