Resona Asset Management Co. Ltd. Buys New Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Resona Asset Management Co. Ltd. bought a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 44,888 shares of the semiconductor manufacturer's stock, valued at approximately $3,990,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SWKS. Integrated Quantitative Investments LLC bought a new stake in Skyworks Solutions during the 4th quarter worth approximately $372,000. PAX Financial Group LLC increased its holdings in Skyworks Solutions by 0.8% in the fourth quarter. PAX Financial Group LLC now owns 21,979 shares of the semiconductor manufacturer's stock valued at $1,949,000 after purchasing an additional 168 shares during the period. Grant Private Wealth Management Inc bought a new position in Skyworks Solutions during the 4th quarter worth $240,000. Arete Wealth Advisors LLC lifted its holdings in Skyworks Solutions by 21.8% during the 4th quarter. Arete Wealth Advisors LLC now owns 2,971 shares of the semiconductor manufacturer's stock worth $264,000 after buying an additional 531 shares during the period. Finally, Motley Fool Asset Management LLC increased its stake in shares of Skyworks Solutions by 7.5% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,355 shares of the semiconductor manufacturer's stock valued at $209,000 after buying an additional 165 shares during the period. Institutional investors own 85.43% of the company's stock.

Insider Activity

In other news, CEO Philip G. Brace purchased 10,000 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was acquired at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at $661,300. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company's stock.

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Analysts Set New Price Targets

A number of analysts have commented on the stock. Rosenblatt Securities reaffirmed a "neutral" rating and set a $80.00 price target (down previously from $120.00) on shares of Skyworks Solutions in a research report on Thursday, February 6th. Mizuho lowered Skyworks Solutions from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $105.00 to $62.00 in a report on Thursday, February 6th. Argus downgraded Skyworks Solutions from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Piper Sandler cut their price objective on shares of Skyworks Solutions from $85.00 to $70.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Finally, Barclays reduced their target price on shares of Skyworks Solutions from $80.00 to $70.00 and set an "underweight" rating for the company in a research note on Friday, January 17th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Skyworks Solutions presently has an average rating of "Hold" and an average price target of $83.78.

Skyworks Solutions Stock Up 3.1 %

Shares of SWKS traded up $1.76 on Monday, hitting $58.30. 656,741 shares of the stock traded hands, compared to its average volume of 2,794,660. The business has a 50 day simple moving average of $65.28 and a 200 day simple moving average of $81.96. 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, Inc. has a one year low of $47.93 and a one year high of $120.86. The company has a market capitalization of $9.14 billion, a PE ratio of 17.88, a P/E/G ratio of 1.79 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. As a group, equities analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.80%. The ex-dividend date was Monday, February 24th. Skyworks Solutions's dividend payout ratio is presently 85.89%.

Skyworks Solutions 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.