Verdence Capital Advisors LLC Reduces Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Verdence Capital Advisors LLC lowered its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 13.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,631 shares of the semiconductor manufacturer’s stock after selling 423 shares during the period. Verdence Capital Advisors LLC’s holdings in Skyworks Solutions were worth $296,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Skyworks Solutions by 0.3% in the third quarter. Vanguard Group Inc. now owns 18,533,014 shares of the semiconductor manufacturer’s stock worth $1,827,170,000 after purchasing an additional 53,389 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Skyworks Solutions by 3.4% in the third quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock worth $407,474,000 after purchasing an additional 136,188 shares during the period. Invesco Ltd. increased its holdings in shares of Skyworks Solutions by 11.8% in the third quarter. Invesco Ltd. now owns 3,035,245 shares of the semiconductor manufacturer’s stock worth $299,245,000 after purchasing an additional 321,243 shares during the period. Northern Trust Corp increased its holdings in shares of Skyworks Solutions by 8.3% in the third quarter. Northern Trust Corp now owns 2,091,132 shares of the semiconductor manufacturer’s stock worth $206,165,000 after purchasing an additional 160,178 shares during the period. Finally, LSV Asset Management increased its holdings in shares of Skyworks Solutions by 24.2% in the third quarter. LSV Asset Management now owns 1,741,300 shares of the semiconductor manufacturer’s stock worth $171,675,000 after purchasing an additional 338,820 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $99.30 on Wednesday. The company has a 50-day simple moving average of $104.21 and a two-hundred day simple moving average of $101.73. The company has a quick ratio of 3.51, a current ratio of 5.02 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 12-month low of $85.06 and a 12-month high of $115.69. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.82 and a beta of 1.37.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.02. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Skyworks Solutions had a net margin of 19.48% and a return on equity of 18.68%. The company’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 earnings per share. On average, equities analysts forecast that Skyworks Solutions, Inc. will post 5.65 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders 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 2.74%. Skyworks Solutions’s dividend payout ratio is currently 48.23%.

Analyst Ratings Changes

Several research firms have recently weighed in on SWKS. TD Cowen upped their price target on shares of Skyworks Solutions from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Skyworks Solutions in a report on Wednesday, January 31st. Piper Sandler reissued a “neutral” rating and issued a $90.00 target price on shares of Skyworks Solutions in a research note on Thursday, January 4th. B. Riley increased their target price on Skyworks Solutions from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Finally, KeyCorp cut Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.10.

Skyworks Solutions 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.