Investment Management Corp of Ontario Purchases 12,699 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Investment Management Corp of Ontario boosted its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 103.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,010 shares of the semiconductor manufacturer’s stock after acquiring an additional 12,699 shares during the period. Investment Management Corp of Ontario’s holdings in Skyworks Solutions were worth $2,218,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SWKS. Barclays PLC increased its stake in Skyworks Solutions by 96.4% during the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock worth $191,023,000 after acquiring an additional 949,407 shares during the period. Principal Financial Group Inc. increased its stake in Skyworks Solutions by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 200,873 shares of the semiconductor manufacturer’s stock worth $19,840,000 after acquiring an additional 6,302 shares during the period. Diversified Trust Co increased its stake in Skyworks Solutions by 64.7% during the 4th quarter. Diversified Trust Co now owns 4,169 shares of the semiconductor manufacturer’s stock worth $370,000 after acquiring an additional 1,637 shares during the period. Czech National Bank increased its stake in Skyworks Solutions by 6.4% during the 4th quarter. Czech National Bank now owns 34,630 shares of the semiconductor manufacturer’s stock worth $3,071,000 after acquiring an additional 2,095 shares during the period. Finally, Matrix Trust Co increased its stake in Skyworks Solutions by 696.9% during the 4th quarter. Matrix Trust Co now owns 3,108 shares of the semiconductor manufacturer’s stock worth $276,000 after acquiring an additional 2,718 shares during the period. Institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS opened at $68.23 on Monday. Skyworks Solutions, Inc. has a twelve month low of $47.93 and a twelve month high of $120.86. The stock’s 50 day moving average price is $63.07 and its 200-day moving average price is $77.00. The company has a market capitalization of $10.24 billion, a PE ratio of 20.93, a PEG ratio of 1.79 and a beta of 1.18. 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 (NASDAQ:SWKS) last announced its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. The firm had revenue of $953.20 million for the quarter, compared to the consensus estimate of $951.50 million. During the same quarter in the previous year, the business earned $1.55 EPS. The company’s revenue was down 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.10%. Skyworks Solutions’s payout ratio is presently 109.80%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler lowered their price objective on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley reduced their target price on Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. B. Riley downgraded Skyworks Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the company from $110.00 to $65.00 in a report on Thursday, February 6th. Argus downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Bank of America reduced their target price on Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating on the stock in a report on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $78.29.

Insider Buying and Selling

In related news, CEO Philip G. Brace purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average price of $66.13 per share, with a total value of $661,300.00. Following the acquisition, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $661,300. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.28% of the stock is currently owned by insiders.

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.