Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 5.6% in the fourth quarter, HoldingsChannel reports. The fund owned 465,240 shares of the semiconductor manufacturer’s stock after acquiring an additional 24,681 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Skyworks Solutions were worth $41,257,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SWKS. Erste Asset Management GmbH acquired a new position in Skyworks Solutions in the 3rd quarter worth about $27,000. Investors Research Corp raised its stake in shares of Skyworks Solutions by 167.7% during the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 213 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Skyworks Solutions during the 3rd quarter valued at approximately $40,000. Quest Partners LLC purchased a new position in shares of Skyworks Solutions during the 3rd quarter valued at approximately $41,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Skyworks Solutions in the 3rd quarter valued at $49,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SWKS has been the topic of several research analyst reports. Loop Capital initiated coverage on shares of Skyworks Solutions in a research report on Monday, November 11th. They issued a “hold” rating and a $90.00 target price on the stock. Barclays lowered their price objective on Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. reduced their target price on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Piper Sandler lowered their price target on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $80.00 price target (down from $120.00) on shares of Skyworks Solutions in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $83.78.

Skyworks Solutions Stock Down 1.6 %

Shares of NASDAQ SWKS opened at $64.64 on Tuesday. The company has a market capitalization of $10.39 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.45 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.24. The company has a 50 day simple moving average of $88.45 and a 200-day simple moving average of $94.53. Skyworks Solutions, Inc. has a 1 year low of $62.01 and a 1 year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (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%. On average, equities research analysts predict that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a $0.70 dividend. The ex-dividend date is Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a yield of 4.33%. Skyworks Solutions’s payout ratio is currently 85.89%.

About Skyworks Solutions

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.