Skyworks Solutions, Inc. (NASDAQ:SWKS) Holdings Cut by Principal Street Partners LLC

Principal Street Partners LLC reduced its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 56.0% during the 4th quarter, HoldingsChannel reports. The fund owned 23,211 shares of the semiconductor manufacturer’s stock after selling 29,562 shares during the period. Principal Street Partners LLC’s holdings in Skyworks Solutions were worth $2,058,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SWKS. Barclays PLC raised its stake in shares of Skyworks Solutions by 96.4% during the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock worth $191,023,000 after purchasing an additional 949,407 shares in the last quarter. Aaron Wealth Advisors LLC bought a new position in shares of Skyworks Solutions during the 4th quarter valued at $210,000. Nisa Investment Advisors LLC lifted its stake in shares of Skyworks Solutions by 14.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 41,669 shares of the semiconductor manufacturer’s stock valued at $3,695,000 after purchasing an additional 5,294 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Skyworks Solutions by 8.2% during the 4th quarter. Inspire Investing LLC now owns 26,999 shares of the semiconductor manufacturer’s stock worth $2,394,000 after acquiring an additional 2,049 shares in the last quarter. Finally, Impact Partnership Wealth LLC raised its position in shares of Skyworks Solutions by 25.6% in the fourth quarter. Impact Partnership Wealth LLC now owns 10,128 shares of the semiconductor manufacturer’s stock valued at $898,000 after purchasing an additional 2,062 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on SWKS. The Goldman Sachs Group decreased their price target on shares of Skyworks Solutions from $92.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Piper Sandler dropped their target price on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on Skyworks Solutions from $70.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Mizuho cut shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $105.00 to $62.00 in a research note on Thursday, February 6th. Finally, UBS Group dropped their price objective on Skyworks Solutions from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $78.29.

Insider Activity

In other Skyworks Solutions news, CEO Philip G. Brace purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average price of $66.13 per share, for a total transaction of $661,300.00. Following the purchase, the chief executive officer now owns 10,000 shares in the company, valued at approximately $661,300. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.28% of the company’s stock.

Skyworks Solutions Stock Performance

Shares of NASDAQ SWKS opened at $72.92 on Tuesday. 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 50 day moving average price of $63.49 and a 200 day moving average price of $76.16. The stock has a market capitalization of $10.95 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18. Skyworks Solutions, Inc. has a 52 week low of $47.93 and a 52 week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. The company had revenue of $953.20 million for the quarter, compared to analysts’ expectations of $951.50 million. During the same quarter in the prior year, the business posted $1.55 EPS. The business’s revenue was down 8.9% compared to the same quarter last year. Analysts predict that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Tuesday, May 27th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 109.80%.

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.