Raymond James Financial Inc. Buys New Shares in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Raymond James Financial Inc. acquired a new position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 89,612 shares of the semiconductor manufacturer's stock, valued at approximately $7,947,000. Raymond James Financial Inc. owned about 0.06% of Skyworks Solutions at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Skyworks Solutions by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 20,341,842 shares of the semiconductor manufacturer's stock worth $1,803,915,000 after purchasing an additional 562,783 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Skyworks Solutions by 37.5% in the fourth quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer's stock worth $499,273,000 after acquiring an additional 1,536,289 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 267,343 shares during the period. Geode Capital Management LLC lifted its position in shares of Skyworks Solutions by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,206,855 shares of the semiconductor manufacturer's stock valued at $372,727,000 after acquiring an additional 63,216 shares in the last quarter. Finally, FIL Ltd boosted its stake in Skyworks Solutions by 0.3% in the 4th quarter. FIL Ltd now owns 3,502,951 shares of the semiconductor manufacturer's stock worth $310,642,000 after purchasing an additional 10,664 shares during the period. Institutional investors and hedge funds own 85.43% of the company's stock.

Skyworks Solutions Stock Performance

SWKS stock traded up $0.59 during mid-day trading on Monday, reaching $62.11. 2,141,966 shares of the stock traded hands, compared to its average volume of 2,847,783. The company has a quick ratio of 4.73, a current ratio of 5.94 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 52 week low of $47.93 and a 52 week high of $120.86. The business has a 50-day moving average of $63.16 and a two-hundred day moving average of $78.98. The firm has a market capitalization of $9.74 billion, a PE ratio of 19.05, a P/E/G ratio of 1.79 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) 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%. As a group, equities analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently declared 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 4.51%. The ex-dividend date of this dividend was Monday, February 24th. Skyworks Solutions's dividend payout ratio (DPR) is 85.89%.

Insider Buying and Selling at Skyworks Solutions

In related 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 acquired at an average price 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 approximately $661,300. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

SWKS has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Skyworks Solutions from $72.00 to $84.00 and gave the company a "sell" rating in a research note on Friday, January 10th. Needham & Company LLC reissued a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. Barclays cut their target price on shares of Skyworks Solutions from $55.00 to $45.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler cut their target price on shares of Skyworks Solutions from $85.00 to $70.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. Finally, Bank of America dropped their price target on shares of Skyworks Solutions from $88.00 to $60.00 and set an "underperform" rating on the stock in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Skyworks Solutions presently has a consensus rating of "Hold" and a consensus price target of $82.39.

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.