Sumitomo Mitsui Trust Group Inc. Buys 24,681 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Sumitomo Mitsui Trust Group Inc. increased its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 465,240 shares of the semiconductor manufacturer’s stock after purchasing an additional 24,681 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.29% of Skyworks Solutions worth $41,257,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SWKS. Barclays PLC raised its holdings in shares of Skyworks Solutions by 96.4% in the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock valued at $191,023,000 after purchasing an additional 949,407 shares in the last quarter. Wellington Management Group LLP raised its stake in Skyworks Solutions by 52.0% in the third quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock worth $223,994,000 after buying an additional 775,470 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in Skyworks Solutions by 5,769.6% during the third quarter. Mizuho Securities USA LLC now owns 726,005 shares of the semiconductor manufacturer’s stock worth $71,708,000 after buying an additional 713,636 shares during the period. KBC Group NV lifted its holdings in Skyworks Solutions by 114.0% during the fourth quarter. KBC Group NV now owns 1,248,273 shares of the semiconductor manufacturer’s stock worth $110,697,000 after buying an additional 664,874 shares during the period. Finally, Van ECK Associates Corp boosted its position in Skyworks Solutions by 25.3% during the 3rd quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock valued at $152,915,000 after acquiring an additional 325,672 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SWKS has been the subject of a number of analyst reports. Stifel Nicolaus cut Skyworks Solutions from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $105.00 to $62.00 in a research note on Thursday, February 6th. Morgan Stanley decreased their price target on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Susquehanna lowered their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Loop Capital began coverage on shares of Skyworks Solutions in a research note on Monday, November 11th. They set a “hold” rating and a $90.00 price objective for the company. Finally, Piper Sandler lowered their target price on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $83.78.

Skyworks Solutions Stock Performance

SWKS opened at $64.64 on Tuesday. The firm has a 50 day moving average of $88.45 and a two-hundred day moving average of $94.53. The firm has a market capitalization of $10.39 billion, a PE ratio of 19.83, a P/E/G ratio of 1.45 and a beta of 1.14. The company has a current ratio of 5.94, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 12-month low of $62.01 and a 12-month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) 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, analysts anticipate that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be paid a $0.70 dividend. The ex-dividend date is Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.33%. Skyworks Solutions’s payout ratio is 85.89%.

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.