Sumitomo Mitsui Trust Group Inc. Raises Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 440,559 shares of the semiconductor manufacturer's stock after purchasing an additional 11,182 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Skyworks Solutions worth $43,514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avantax Advisory Services Inc. boosted its position in Skyworks Solutions by 28.4% during the first quarter. Avantax Advisory Services Inc. now owns 5,336 shares of the semiconductor manufacturer's stock valued at $578,000 after purchasing an additional 1,179 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Skyworks Solutions by 7.9% during the 1st quarter. Bleakley Financial Group LLC now owns 1,992 shares of the semiconductor manufacturer's stock worth $216,000 after acquiring an additional 146 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Skyworks Solutions by 23.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 187,801 shares of the semiconductor manufacturer's stock valued at $20,343,000 after acquiring an additional 36,016 shares during the last quarter. Tocqueville Asset Management L.P. grew its holdings in Skyworks Solutions by 3.3% in the first quarter. Tocqueville Asset Management L.P. now owns 6,231 shares of the semiconductor manufacturer's stock worth $675,000 after purchasing an additional 200 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Skyworks Solutions in the first quarter worth $4,694,000. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Stock Performance

Shares of NASDAQ SWKS traded down $0.31 during midday trading on Friday, reaching $83.69. 3,278,939 shares of the stock were exchanged, compared to its average volume of 2,401,136. The company has a quick ratio of 4.29, a current ratio of 3.01 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $95.14 and a two-hundred day simple moving average of $100.16. Skyworks Solutions, Inc. has a twelve month low of $82.13 and a twelve month high of $120.86. The firm has a market cap of $13.37 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.53 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company posted $1.95 EPS. The company's revenue for the quarter was down 15.9% on a year-over-year basis. As a group, analysts anticipate that Skyworks Solutions, Inc. will post 5.39 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. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions's payout ratio is 75.68%.

Insider Activity

In other news, SVP Carlos S. Bori sold 10,177 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the completion of the sale, the senior vice president now owns 27,026 shares of the company's stock, valued at $2,638,548.38. This represents a 27.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert John Terry sold 10,522 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the transaction, the senior vice president now directly owns 15,960 shares in the company, valued at approximately $1,404,639.60. This represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,841 shares of company stock worth $3,034,265 in the last quarter. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

SWKS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on Skyworks Solutions from $120.00 to $100.00 and set a "neutral" rating for the company in a research report on Wednesday. Bank of America upped their price objective on shares of Skyworks Solutions from $95.00 to $110.00 and gave the company an "underperform" rating in a report on Wednesday, July 31st. Piper Sandler lowered their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a "neutral" rating for the company in a research note on Wednesday. Susquehanna dropped their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Robert W. Baird raised their price target on shares of Skyworks Solutions from $90.00 to $108.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Skyworks Solutions has a consensus rating of "Hold" and an average target price of $101.00.

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.