Summit Financial LLC Purchases Shares of 3,373 Skyworks Solutions, Inc. (NASDAQ:SWKS)

Summit Financial LLC acquired a new position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,373 shares of the semiconductor manufacturer’s stock, valued at approximately $299,000.

A number of other hedge funds have also modified their holdings of the stock. Erste Asset Management GmbH purchased a new position in Skyworks Solutions in the 3rd quarter worth about $27,000. Golden State Wealth Management LLC acquired a new position in shares of Skyworks Solutions in the fourth quarter worth about $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Skyworks Solutions in the fourth quarter worth approximately $29,000. Picton Mahoney Asset Management acquired a new stake in shares of Skyworks Solutions during the fourth quarter valued at approximately $33,000. Finally, Manchester Capital Management LLC lifted its position in shares of Skyworks Solutions by 325.2% in the 4th quarter. Manchester Capital Management LLC now owns 557 shares of the semiconductor manufacturer’s stock valued at $49,000 after acquiring an additional 426 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Skyworks Solutions Price Performance

Shares of NASDAQ:SWKS opened at $56.76 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73. The stock has a market capitalization of $9.12 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.79 and a beta of 1.18. The business has a 50-day moving average of $70.78 and a two-hundred day moving average of $84.49. Skyworks Solutions, Inc. has a fifty-two week low of $56.75 and a fifty-two week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share 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, equities research analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a $0.70 dividend. The ex-dividend date was Monday, February 24th. This represents a $2.80 annualized dividend and a yield of 4.93%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 85.89%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Mizuho cut shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $105.00 to $62.00 in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a report on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. The Goldman Sachs Group lowered their target price on Skyworks Solutions from $92.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Finally, Piper Sandler reduced their price target on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.78.

Insider Buying and Selling

In other Skyworks Solutions news, CEO Philip G. Brace purchased 10,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were bought at an average cost of $66.13 per share, with a total value of $661,300.00. Following the completion of the transaction, the chief executive officer now owns 10,000 shares in the company, valued at $661,300. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

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.