Russell Investments Group Ltd. boosted its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 66.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 687,961 shares of the semiconductor manufacturer's stock after purchasing an additional 275,611 shares during the period. Russell Investments Group Ltd. owned approximately 0.43% of Skyworks Solutions worth $61,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in 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 buying an additional 562,783 shares during the period. Pzena Investment Management LLC grew its stake in Skyworks Solutions by 37.5% in the 4th quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer's stock worth $499,273,000 after acquiring an additional 1,536,289 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Skyworks Solutions by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,098,497 shares of the semiconductor manufacturer's stock worth $452,135,000 after acquiring an additional 267,343 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Skyworks Solutions by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,206,855 shares of the semiconductor manufacturer's stock worth $372,727,000 after acquiring an additional 63,216 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Skyworks Solutions by 21.9% during the fourth quarter. Wellington Management Group LLP now owns 2,765,410 shares of the semiconductor manufacturer's stock valued at $245,237,000 after acquiring an additional 497,575 shares in the last quarter. Institutional investors own 85.43% of the company's stock.
Skyworks Solutions Stock Up 5.0 %
Shares of Skyworks Solutions stock traded up $2.70 during trading on Friday, reaching $56.54. The company's stock had a trading volume of 5,427,996 shares, compared to its average volume of 2,799,993. Skyworks Solutions, Inc. has a 1-year low of $47.93 and a 1-year high of $120.86. The company has a 50-day simple moving average of $65.28 and a two-hundred day simple moving average of $82.08. The company has a quick ratio of 4.73, a current ratio of 5.94 and a debt-to-equity ratio of 0.16. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 1.79 and a beta of 1.21.
Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its quarterly earnings results 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 return on equity of 12.60% and a net margin of 13.02%. As a group, equities analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.
Skyworks Solutions Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Monday, February 24th. Skyworks Solutions's dividend payout ratio is presently 85.89%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SWKS. B. Riley cut Skyworks Solutions from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $110.00 to $65.00 in a research note on Thursday, February 6th. Barclays dropped their price target on Skyworks Solutions from $80.00 to $70.00 and set an "underweight" rating on the stock in a research report on Friday, January 17th. Needham & Company LLC restated a "hold" rating on shares of Skyworks Solutions in a report on Thursday, February 6th. Argus lowered shares of Skyworks Solutions from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Piper Sandler cut their target price on shares of Skyworks Solutions from $85.00 to $70.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. Three equities 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $83.78.
Read Our Latest Stock Report on SWKS
Insider Buying and Selling at Skyworks Solutions
In related news, CEO Philip G. Brace acquired 10,000 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were purchased at an average cost of $66.13 per share, with a total value of $661,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 10,000 shares of the company's stock, valued at $661,300. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by company insiders.
Skyworks Solutions Profile
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Free Report)
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.
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