NewEdge Wealth LLC Sells 111,785 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

NewEdge Wealth LLC reduced its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 96.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,663 shares of the semiconductor manufacturer's stock after selling 111,785 shares during the period. NewEdge Wealth LLC's holdings in Skyworks Solutions were worth $412,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SWKS. Price T Rowe Associates Inc. MD raised its stake in Skyworks Solutions by 804.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,883,265 shares of the semiconductor manufacturer's stock valued at $340,168,000 after acquiring an additional 2,564,631 shares during the period. Norges Bank bought a new stake in shares of Skyworks Solutions during the fourth quarter valued at about $152,111,000. DnB Asset Management AS increased its position in shares of Skyworks Solutions by 60.9% during the third quarter. DnB Asset Management AS now owns 1,344,282 shares of the semiconductor manufacturer's stock valued at $132,533,000 after buying an additional 508,807 shares during the period. Pacer Advisors Inc. increased its position in shares of Skyworks Solutions by 40.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,601,879 shares of the semiconductor manufacturer's stock valued at $180,083,000 after buying an additional 465,223 shares during the period. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Skyworks Solutions during the first quarter valued at about $53,654,000. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Trading Down 0.9 %

Shares of NASDAQ:SWKS traded down $0.85 during trading on Thursday, reaching $97.62. 2,202,322 shares of the company traded hands, compared to its average volume of 2,307,008. The firm has a market capitalization of $15.64 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.84 and a beta of 1.37. Skyworks Solutions, Inc. has a 52-week low of $85.06 and a 52-week high of $115.69. The company has a current ratio of 5.02, a quick ratio of 3.51 and a debt-to-equity ratio of 0.16. The business's fifty day moving average is $104.63 and its 200-day moving average is $101.67.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.02. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Skyworks Solutions had a return on equity of 18.68% and a net margin of 19.48%. The business's quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.33 earnings per share. As a group, analysts forecast that Skyworks Solutions, Inc. will post 5.65 EPS for the current year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.79%. Skyworks Solutions's dividend payout ratio is presently 48.23%.

Analyst Ratings Changes

SWKS has been the topic of several analyst reports. StockNews.com cut Skyworks Solutions from a "buy" rating to a "hold" rating in a research report on Friday, March 29th. Piper Sandler reiterated a "neutral" rating and set a $90.00 price target on shares of Skyworks Solutions in a research report on Thursday, January 4th. Susquehanna upped their price target on Skyworks Solutions from $120.00 to $125.00 and gave the company a "positive" rating in a research report on Wednesday, January 31st. Rosenblatt Securities reissued a "buy" rating and set a $130.00 price objective on shares of Skyworks Solutions in a report on Wednesday, January 31st. Finally, B. Riley boosted their price objective on Skyworks Solutions from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $115.10.

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.