Sumitomo Mitsui Trust Holdings Inc. Decreases Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 407,544 shares of the semiconductor manufacturer’s stock after selling 9,437 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of Skyworks Solutions worth $45,816,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SWKS. Price T Rowe Associates Inc. MD lifted its position in shares of Skyworks Solutions by 804.9% during the first 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 buying an additional 2,564,631 shares during the last quarter. Norges Bank purchased a new position in shares of Skyworks Solutions in the 4th quarter valued at approximately $152,111,000. Pacer Advisors Inc. raised its position in shares of Skyworks Solutions by 40.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,601,879 shares of the semiconductor manufacturer’s stock valued at $180,083,000 after purchasing an additional 465,223 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Skyworks Solutions in the 1st quarter valued at approximately $53,654,000. Finally, Barclays PLC raised its position in shares of Skyworks Solutions by 117.8% in the 2nd quarter. Barclays PLC now owns 818,401 shares of the semiconductor manufacturer’s stock valued at $90,591,000 after purchasing an additional 442,707 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS opened at $96.11 on Friday. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.81 and a beta of 1.37. Skyworks Solutions, Inc. has a 12 month low of $85.06 and a 12 month high of $115.69. The firm’s 50 day simple moving average is $104.45 and its 200-day simple moving average is $101.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.02 and a quick ratio of 3.51.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a net margin of 19.48% and a return on equity of 18.68%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company earned $2.33 EPS. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. Analysts expect that Skyworks Solutions, Inc. will post 5.65 EPS for the current year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.72 dividend on an annualized basis and a yield of 2.83%. Skyworks Solutions’s dividend payout ratio is currently 48.23%.

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.