State Street Corp Has $763.87 Million Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

State Street Corp cut its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 0.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,733,817 shares of the semiconductor manufacturer's stock after selling 61,425 shares during the period. State Street Corp owned 4.84% of Skyworks Solutions worth $763,869,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Forsta AP Fonden increased its holdings in Skyworks Solutions by 27.0% in the 3rd quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer's stock valued at $3,674,000 after buying an additional 7,900 shares during the period. Versor Investments LP increased its stake in Skyworks Solutions by 115.3% in the third quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer's stock valued at $1,966,000 after acquiring an additional 10,658 shares during the period. Van ECK Associates Corp lifted its stake in Skyworks Solutions by 25.3% during the third quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer's stock worth $152,915,000 after purchasing an additional 325,672 shares during the period. M&G Plc acquired a new stake in Skyworks Solutions during the second quarter valued at approximately $797,000. Finally, Captrust Financial Advisors grew its stake in shares of Skyworks Solutions by 20.2% in the 3rd quarter. Captrust Financial Advisors now owns 36,603 shares of the semiconductor manufacturer's stock valued at $3,615,000 after purchasing an additional 6,151 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Trading Up 2.0 %

Shares of Skyworks Solutions stock traded up $1.80 during trading on Monday, reaching $89.67. 1,948,005 shares of the company were exchanged, compared to its average volume of 2,384,249. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a twelve month low of $82.13 and a twelve month high of $120.86. The business has a 50-day moving average price of $91.35 and a 200-day moving average price of $99.53. The firm has a market capitalization of $14.34 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 1.94 and a beta of 1.19.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.02 billion. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The firm's quarterly revenue was down 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.95 earnings per share. Sell-side analysts anticipate that Skyworks Solutions, Inc. will post 4.45 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a yield of 3.12%. Skyworks Solutions's dividend payout ratio is presently 75.68%.

Wall Street Analysts Forecast Growth

SWKS has been the subject of several analyst reports. Barclays cut their target price on Skyworks Solutions from $87.00 to $80.00 and set an "underweight" rating for the company in a research report on Wednesday, November 13th. Loop Capital assumed coverage on Skyworks Solutions in a research report on Monday, November 11th. They set a "hold" rating and a $90.00 target price for the company. Piper Sandler dropped their price target on Skyworks Solutions from $95.00 to $85.00 and set a "neutral" rating for the company in a report on Wednesday, November 13th. Craig Hallum dropped their price target on Skyworks Solutions from $140.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. Finally, Morgan Stanley dropped their price target on Skyworks Solutions from $117.00 to $87.00 and set an "equal weight" rating for the company in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $101.00.

Insiders Place Their Bets

In related news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the sale, the senior vice president now owns 15,960 shares of the company's stock, valued at approximately $1,404,639.60. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carlos S. Bori sold 9,321 shares of Skyworks Solutions stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the sale, the senior vice president now directly owns 37,203 shares in the company, valued at approximately $3,793,589.91. This represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,841 shares of company stock worth $3,034,265. Corporate insiders own 0.35% 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.