Global X Japan Co. Ltd. Buys 6,093 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Global X Japan Co. Ltd. lifted its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 48.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,625 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,093 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Skyworks Solutions were worth $1,985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SWKS. Pzena Investment Management LLC purchased a new position in Skyworks Solutions during the 4th quarter valued at about $302,309,000. Norges Bank purchased a new stake in shares of Skyworks Solutions in the 4th quarter worth approximately $226,266,000. Swedbank AB purchased a new position in Skyworks Solutions during the first quarter valued at $110,086,000. Vanguard Group Inc. raised its holdings in Skyworks Solutions by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after acquiring an additional 745,374 shares during the last quarter. Finally, KBC Group NV increased its holdings in Skyworks Solutions by 2,156.7% in the 4th quarter. KBC Group NV now owns 440,372 shares of the semiconductor manufacturer’s stock worth $49,506,000 after buying an additional 420,858 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Robert W. Baird boosted their price objective on shares of Skyworks Solutions from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Susquehanna reaffirmed a “neutral” rating and issued a $125.00 target price on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $115.00 price target (up from $95.00) on shares of Skyworks Solutions in a report on Wednesday, July 31st. TD Cowen lifted their price objective on Skyworks Solutions from $90.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Skyworks Solutions from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $113.94.

Skyworks Solutions Price Performance

Shares of NASDAQ:SWKS opened at $99.81 on Tuesday. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 4.64 and a beta of 1.21. Skyworks Solutions, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 5.75. The firm has a fifty day moving average price of $108.24 and a 200 day moving average price of $103.29.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The company had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $900.41 million. During the same quarter in the previous year, the business posted $1.50 earnings per share. Skyworks Solutions’s quarterly revenue was down 15.5% on a year-over-year basis. As a group, sell-side analysts expect that Skyworks Solutions, Inc. will post 5.21 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be given a $0.70 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $2.80 annualized dividend and a yield of 2.81%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s dividend payout ratio (DPR) is currently 52.63%.

Insiders Place Their Bets

In related news, VP Philip Matthew Carter sold 452 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total transaction of $54,240.00. Following the sale, the vice president now owns 9,112 shares in the company, valued at approximately $1,093,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Skyworks Solutions news, SVP Reza Kasnavi sold 1,843 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $107.47, for a total transaction of $198,067.21. Following the completion of the transaction, the senior vice president now owns 17,455 shares in the company, valued at $1,875,888.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Philip Matthew Carter sold 452 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total value of $54,240.00. Following the completion of the sale, the vice president now owns 9,112 shares in the company, valued at $1,093,440. The disclosure for this sale can be found here. Insiders have sold 2,747 shares of company stock valued at $302,027 over the last ninety days. 0.34% of the stock is owned by insiders.

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.