Summit Global Investments Acquires New Shares in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Summit Global Investments acquired a new stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,906 shares of the semiconductor manufacturer’s stock, valued at approximately $967,000.

Other institutional investors have also recently bought and sold shares of the company. Pzena Investment Management LLC raised its holdings in Skyworks Solutions by 37.5% during the fourth quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer’s stock valued at $499,273,000 after buying an additional 1,536,289 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Skyworks Solutions by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,098,497 shares of the semiconductor manufacturer’s stock valued at $452,135,000 after buying an additional 267,343 shares in the last quarter. Geode Capital Management LLC raised its holdings in Skyworks Solutions by 0.7% during the third quarter. Geode Capital Management LLC now owns 4,143,639 shares of the semiconductor manufacturer’s stock valued at $408,410,000 after buying an additional 28,009 shares in the last quarter. FMR LLC raised its holdings in Skyworks Solutions by 7.3% during the third quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer’s stock valued at $265,853,000 after buying an additional 182,130 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Skyworks Solutions by 52.0% during the third quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock valued at $223,994,000 after buying an additional 775,470 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley cut their target price on Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Piper Sandler cut their target price on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. The Goldman Sachs Group dropped their price objective on Skyworks Solutions from $92.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. 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. Finally, Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.78.

Skyworks Solutions Stock Down 1.7 %

NASDAQ SWKS opened at $67.25 on Friday. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $75.68 and its two-hundred day moving average is $86.62. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.79 and a beta of 1.18. Skyworks Solutions, Inc. has a 1-year low of $62.01 and a 1-year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. Equities analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Monday, February 24th. Skyworks Solutions’s payout ratio is 85.89%.

Insider Buying and Selling at Skyworks Solutions

In related news, CEO Philip G. Brace acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were bought at an average cost of $66.13 per share, with a total value of $661,300.00. Following the completion of the acquisition, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $661,300. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

Skyworks Solutions Profile

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.