Groesbeck Investment Management Corp NJ Sells 925 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Groesbeck Investment Management Corp NJ trimmed its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,460 shares of the semiconductor manufacturer’s stock after selling 925 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Skyworks Solutions were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Skyworks Solutions by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,533,014 shares of the semiconductor manufacturer’s stock valued at $1,827,170,000 after purchasing an additional 53,389 shares during the last quarter. State Street Corp grew its position in Skyworks Solutions by 3.7% during the 1st quarter. State Street Corp now owns 7,677,613 shares of the semiconductor manufacturer’s stock valued at $905,804,000 after purchasing an additional 276,958 shares during the last quarter. Victory Capital Management Inc. grew its position in Skyworks Solutions by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock valued at $407,474,000 after purchasing an additional 136,188 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Skyworks Solutions by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 3,536,039 shares of the semiconductor manufacturer’s stock valued at $416,436,000 after acquiring an additional 60,213 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Skyworks Solutions by 15.0% during the 4th quarter. Lazard Asset Management LLC now owns 3,285,893 shares of the semiconductor manufacturer’s stock valued at $299,442,000 after acquiring an additional 428,364 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Price Performance

Shares of Skyworks Solutions stock traded up $0.08 on Thursday, hitting $98.55. 660,948 shares of the company traded hands, compared to its average volume of 2,285,110. The stock has a market capitalization of $15.79 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 1.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.51 and a current ratio of 5.02. Skyworks Solutions, Inc. has a 52 week low of $85.06 and a 52 week high of $115.69. The business has a 50-day simple moving average of $104.77 and a 200 day simple moving average of $101.70.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a net margin of 19.48% and a return on equity of 18.68%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm posted $2.33 earnings per share. Skyworks Solutions’s revenue for the quarter was down 9.6% compared to the same quarter last year. Research analysts expect that Skyworks Solutions, Inc. will post 5.65 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, February 16th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 48.23%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SWKS. Susquehanna raised their price target on shares of Skyworks Solutions from $120.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. KeyCorp downgraded shares of Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a report on Monday, April 8th. B. Riley raised their price target on shares of Skyworks Solutions from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price objective on shares of Skyworks Solutions in a research note on Wednesday, January 31st. Finally, TD Cowen increased their price objective on shares of Skyworks Solutions from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $115.10.

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.