Sterling Capital Management LLC decreased its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report) by 46.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,991 shares of the semiconductor manufacturer’s stock after selling 12,243 shares during the period. Sterling Capital Management LLC’s holdings in Skyworks Solutions were worth $1,241,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Covestor Ltd lifted its stake in shares of Skyworks Solutions by 28.9% in the 4th quarter. Covestor Ltd now owns 2,189 shares of the semiconductor manufacturer’s stock valued at $194,000 after purchasing an additional 491 shares during the last quarter. Argent Trust Co bought a new stake in Skyworks Solutions in the fourth quarter worth $243,000. Legacy Financial Advisors Inc. boosted its stake in Skyworks Solutions by 2.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 6,383 shares of the semiconductor manufacturer’s stock worth $566,000 after buying an additional 156 shares during the period. Bessemer Group Inc. increased its position in Skyworks Solutions by 1.7% during the fourth quarter. Bessemer Group Inc. now owns 43,952 shares of the semiconductor manufacturer’s stock valued at $3,897,000 after acquiring an additional 744 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Skyworks Solutions in the fourth quarter valued at $7,947,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.
Insider Activity
In other Skyworks Solutions news, CEO Philip G. Brace purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was bought at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the purchase, the chief executive officer now owns 10,000 shares in the company, valued at $661,300. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.28% of the company’s stock.
Skyworks Solutions Stock Performance
Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. On average, sell-side analysts predict that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.
Skyworks Solutions Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Monday, February 24th. Skyworks Solutions’s payout ratio is presently 85.89%.
Wall Street Analysts Forecast Growth
SWKS has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. Stifel Nicolaus cut Skyworks Solutions from a “buy” rating to a “hold” rating and cut their target price for the company from $105.00 to $62.00 in a research note on Thursday, February 6th. Piper Sandler decreased their price target on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Argus downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Bank of America decreased their target price on Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating for the company in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Skyworks Solutions presently has an average rating of “Hold” and an average price target of $83.78.
Check Out Our Latest Analysis on Skyworks Solutions
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.
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