Earnest Partners LLC Increases Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

30 Jul 2024, 01:04 by Sarita Garza · The Markets Daily

Earnest Partners LLC grew its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report) by 31.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 634,441 shares of the semiconductor manufacturer’s stock after purchasing an additional 151,587 shares during the quarter. Earnest Partners LLC owned approximately 0.40% of Skyworks Solutions worth $68,723,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SWKS. Pzena Investment Management LLC bought a new position in shares of Skyworks Solutions during the 4th quarter worth $302,309,000. Norges Bank bought a new position in shares of Skyworks Solutions during the 4th quarter worth $226,266,000. Vanguard Group Inc. grew its stake in shares of Skyworks Solutions by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock worth $2,101,619,000 after acquiring an additional 745,374 shares during the period. KBC Group NV grew its stake in shares of Skyworks Solutions by 2,156.7% during the 4th quarter. KBC Group NV now owns 440,372 shares of the semiconductor manufacturer’s stock worth $49,506,000 after acquiring an additional 420,858 shares during the period. Finally, Clearbridge Investments LLC bought a new position in shares of Skyworks Solutions during the 1st quarter worth $38,688,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions Price Performance

Shares of SWKS traded up $1.23 during trading hours on Monday, reaching $117.41. 2,250,426 shares of the company’s stock traded hands, compared to its average volume of 2,459,417. The stock has a market cap of $18.84 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 5.53 and a beta of 1.23. The company has a current ratio of 5.19, a quick ratio of 3.81 and a debt-to-equity ratio of 0.16. The firm’s 50 day simple moving average is $104.06 and its 200-day simple moving average is $103.07. Skyworks Solutions, Inc. has a 12 month low of $85.06 and a 12 month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. Equities analysts expect that Skyworks Solutions, Inc. will post 5.14 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.32%. Skyworks Solutions’s dividend payout ratio is 51.13%.

Insider Activity at Skyworks Solutions

In other news, CEO Liam Griffin acquired 11,142 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average cost of $90.00 per share, with a total value of $1,002,780.00. Following the acquisition, the chief executive officer now owns 104,153 shares in the company, valued at approximately $9,373,770. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Liam Griffin purchased 11,142 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were acquired at an average cost of $90.00 per share, with a total value of $1,002,780.00. Following the purchase, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at $9,373,770. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $90.27, for a total value of $2,295,836.91. Following the completion of the transaction, the director now directly owns 60,881 shares in the company, valued at $5,495,727.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,337 shares of company stock valued at $2,399,797. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on SWKS shares. Susquehanna increased their price target on Skyworks Solutions from $90.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Wells Fargo & Company cut their target price on Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. B. Riley upgraded Skyworks Solutions from a “neutral” rating to a “buy” rating and raised their target price for the stock from $96.00 to $130.00 in a research note on Thursday, June 20th. Citigroup cut their target price on Skyworks Solutions from $85.00 to $83.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. Finally, UBS Group cut their target price on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $107.14.

Read Our Latest Analysis on SWKS

About Skyworks Solutions

(Free Report)

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.