Principal Street Partners LLC Lowers Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Principal Street Partners LLC cut its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 56.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,211 shares of the semiconductor manufacturer's stock after selling 29,562 shares during the quarter. Principal Street Partners LLC's holdings in Skyworks Solutions were worth $2,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Skyworks Solutions by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 20,341,842 shares of the semiconductor manufacturer's stock worth $1,803,915,000 after buying an additional 562,783 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Skyworks Solutions by 37.5% during the 4th quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer's stock valued at $499,273,000 after acquiring an additional 1,536,289 shares during the period. Vulcan Value Partners LLC grew its stake in shares of Skyworks Solutions by 29.2% in the fourth quarter. Vulcan Value Partners LLC now owns 5,290,813 shares of the semiconductor manufacturer's stock worth $469,162,000 after acquiring an additional 1,194,782 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Skyworks Solutions by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,098,497 shares of the semiconductor manufacturer's stock worth $452,135,000 after acquiring an additional 267,343 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Skyworks Solutions by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 4,206,855 shares of the semiconductor manufacturer's stock valued at $372,727,000 after purchasing an additional 63,216 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions Trading Down 0.5%

Shares of 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. Skyworks Solutions, Inc. has a one year low of $47.93 and a one year high of $120.86. The stock has a 50-day moving average price of $63.49 and a 200 day moving average price of $76.16. The company has a market capitalization of $10.95 billion, a P/E ratio of 22.37, a P/E/G ratio of 1.79 and a beta of 1.18.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. The business had revenue of $953.20 million for the quarter, compared to analyst estimates of $951.50 million. During the same period in the prior year, the company posted $1.55 EPS. The business's revenue was down 8.9% compared to the same quarter last year. Sell-side analysts forecast that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.84%. The ex-dividend date is Tuesday, May 27th. Skyworks Solutions's dividend payout ratio is currently 109.80%.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, CEO Philip G. Brace bought 10,000 shares of Skyworks Solutions stock in a transaction that occurred on Tuesday, February 25th. The stock was purchased at an average cost of $66.13 per share, for a total transaction 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 approximately $661,300. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.28% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a research note on Thursday, May 8th. Piper Sandler dropped their price target on Skyworks Solutions from $85.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. UBS Group reduced their target price on Skyworks Solutions from $70.00 to $65.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Stifel Nicolaus boosted their price objective on shares of Skyworks Solutions from $62.00 to $72.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Finally, Bank of America lowered their price target on Skyworks Solutions from $88.00 to $60.00 and set an "underperform" rating for the company in a report on Thursday, February 6th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Skyworks Solutions presently has an average rating of "Hold" and a consensus price target of $78.29.

Skyworks Solutions Company 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.

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