Principal Financial Group Inc. Raises Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Principal Financial Group Inc. increased its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 9.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 203,496 shares of the semiconductor manufacturer's stock after buying an additional 16,965 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of Skyworks Solutions worth $13,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management purchased a new position in Skyworks Solutions during the fourth quarter worth about $33,000. Mattson Financial Services LLC purchased a new stake in shares of Skyworks Solutions during the 4th quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Skyworks Solutions by 60.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 594 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 223 shares during the last quarter. Brown Lisle Cummings Inc. lifted its holdings in Skyworks Solutions by 450.7% in the first quarter. Brown Lisle Cummings Inc. now owns 771 shares of the semiconductor manufacturer's stock valued at $50,000 after acquiring an additional 631 shares during the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in Skyworks Solutions during the fourth quarter worth $56,000. Institutional investors and hedge funds own 85.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Skyworks Solutions in a research note on Thursday. They set a "sell" rating and a $70.00 target price for the company. Mizuho raised their target price on Skyworks Solutions from $72.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. UBS Group cut their target price on Skyworks Solutions from $70.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Stifel Nicolaus raised their target price on Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Skyworks Solutions presently has an average rating of "Hold" and an average price target of $79.06.

Skyworks Solutions Stock Down 2.9%

NASDAQ:SWKS traded down $2.28 during trading hours on Friday, hitting $75.42. The company's stock had a trading volume of 2,065,833 shares, compared to its average volume of 3,036,314. The stock has a market capitalization of $11.32 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 1.89 and a beta of 1.17. The stock has a fifty day moving average of $72.36 and a 200-day moving average of $72.25. The company has a current ratio of 4.95, a quick ratio of 3.84 and a debt-to-equity ratio of 0.17. Skyworks Solutions, Inc. has a 52-week low of $47.93 and a 52-week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $953.20 million for the quarter, compared to analyst estimates of $951.50 million. Skyworks Solutions had a return on equity of 11.53% and a net margin of 10.43%. Skyworks Solutions's revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.55 earnings per share. On average, equities analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Tuesday, May 27th. Skyworks Solutions's payout ratio is 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.