Voloridge Investment Management LLC Acquires 330,178 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Voloridge Investment Management LLC boosted its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 1,862.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 347,905 shares of the semiconductor manufacturer’s stock after buying an additional 330,178 shares during the quarter. Voloridge Investment Management LLC’s holdings in Skyworks Solutions were worth $30,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in shares of Skyworks Solutions during the 4th quarter worth $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Skyworks Solutions in the 4th quarter worth $29,000. Picton Mahoney Asset Management bought a new position in Skyworks Solutions in the 4th quarter worth $33,000. Manchester Capital Management LLC lifted its position in Skyworks Solutions by 325.2% during the fourth quarter. Manchester Capital Management LLC now owns 557 shares of the semiconductor manufacturer’s stock valued at $49,000 after purchasing an additional 426 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Skyworks Solutions by 53.2% during the fourth quarter. Quadrant Capital Group LLC now owns 628 shares of the semiconductor manufacturer’s stock valued at $56,000 after purchasing an additional 218 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SWKS shares. Piper Sandler reduced their target price on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Bank of America dropped their target price on shares of Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating for the company in a report on Thursday, February 6th. Rosenblatt Securities reiterated a “neutral” rating and issued a $80.00 price target (down previously from $120.00) on shares of Skyworks Solutions in a research note on Thursday, February 6th. The Goldman Sachs Group lowered their price objective on Skyworks Solutions from $92.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Finally, Mizuho lowered Skyworks Solutions from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $105.00 to $62.00 in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Skyworks Solutions has an average rating of “Hold” and a consensus target price of $78.29.

Insider Activity

In related news, CEO Philip G. Brace bought 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was purchased at an average price of $66.13 per share, for a total transaction of $661,300.00. Following the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at $661,300. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.28% of the company’s stock.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $71.35 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73. Skyworks Solutions, Inc. has a 1-year low of $47.93 and a 1-year high of $120.86. The business has a 50 day simple moving average of $63.65 and a two-hundred day simple moving average of $76.11. The stock has a market capitalization of $10.71 billion, a PE ratio of 21.89, a P/E/G ratio of 1.79 and a beta of 1.18.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. The firm had revenue of $953.20 million during the quarter, compared to analyst estimates of $951.50 million. During the same period last year, the firm posted $1.55 earnings per share. Skyworks Solutions’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, research analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.92%. 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.