Sterling Capital Management LLC Sells 12,243 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Sterling Capital Management LLC decreased its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 46.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,991 shares of the semiconductor manufacturer's stock after selling 12,243 shares during the quarter. Sterling Capital Management LLC's holdings in Skyworks Solutions were worth $1,241,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Covestor Ltd boosted its position in Skyworks Solutions by 28.9% during the fourth quarter. Covestor Ltd now owns 2,189 shares of the semiconductor manufacturer's stock valued at $194,000 after purchasing an additional 491 shares in the last quarter. Argent Trust Co purchased a new position in shares of Skyworks Solutions during the 4th quarter valued at approximately $243,000. Legacy Financial Advisors Inc. grew its stake in Skyworks Solutions by 2.5% in the 4th quarter. Legacy Financial Advisors Inc. now owns 6,383 shares of the semiconductor manufacturer's stock valued at $566,000 after acquiring an additional 156 shares during the period. Bessemer Group Inc. increased its stake in shares of Skyworks Solutions by 1.7% during the fourth quarter. Bessemer Group Inc. now owns 43,952 shares of the semiconductor manufacturer's stock worth $3,897,000 after purchasing an additional 744 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Skyworks Solutions in the fourth quarter valued at approximately $7,947,000. Hedge funds and other institutional investors own 85.43% of the company's stock.

Skyworks Solutions Stock Up 0.2 %

Shares of NASDAQ SWKS traded up $0.12 during mid-day trading on Friday, reaching $55.98. The company had a trading volume of 2,344,856 shares, compared to its average volume of 2,823,949. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.73 and a current ratio of 5.94. The stock has a fifty day moving average of $63.97 and a two-hundred day moving average of $80.76. Skyworks Solutions, Inc. has a 12-month low of $47.93 and a 12-month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS 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 research analysts expect that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.00%. Skyworks Solutions's payout ratio is currently 85.89%.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, CEO Philip G. Brace acquired 10,000 shares of Skyworks Solutions stock in a transaction on 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 purchase, the chief executive officer now owns 10,000 shares in the company, valued at $661,300. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.28% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group dropped their price target on Skyworks Solutions from $92.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Piper Sandler decreased 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. Rosenblatt Securities restated a "neutral" rating and set a $80.00 target price (down from $120.00) on shares of Skyworks Solutions in a report on Thursday, February 6th. Bank of America cut their price objective on Skyworks Solutions from $88.00 to $60.00 and set an "underperform" rating on the stock in a research 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 on the stock in a report on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Skyworks Solutions presently has a consensus rating of "Hold" and an average price target of $83.78.

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.