Skyworks Solutions, Inc. (NASDAQ:SWKS) Stock Position Lifted by Westpac Banking Corp

Westpac Banking Corp grew its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,190 shares of the semiconductor manufacturer’s stock after acquiring an additional 311 shares during the quarter. Westpac Banking Corp’s holdings in Skyworks Solutions were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SWKS. Erste Asset Management GmbH bought a new stake in Skyworks Solutions during the third quarter valued at $27,000. Golden State Wealth Management LLC acquired a new position in shares of Skyworks Solutions in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Skyworks Solutions during the 4th quarter valued at about $29,000. Picton Mahoney Asset Management acquired a new stake in Skyworks Solutions during the fourth quarter worth about $33,000. Finally, Manchester Capital Management LLC lifted its holdings in Skyworks Solutions by 325.2% in the fourth quarter. Manchester Capital Management LLC now owns 557 shares of the semiconductor manufacturer’s stock worth $49,000 after acquiring an additional 426 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SWKS has been the topic of a number of research reports. Argus cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. B. Riley cut Skyworks Solutions from a “buy” rating to a “neutral” rating and cut their target price for the company from $110.00 to $65.00 in a research note on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a research report on Thursday, February 6th. Morgan Stanley cut their price objective on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $80.00 target price (down previously from $120.00) on shares of Skyworks Solutions in a research report on Thursday, February 6th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Skyworks Solutions currently has a consensus rating of “Hold” and a consensus target price of $83.78.

Insider Buying and Selling at Skyworks Solutions

In other news, CEO Philip G. Brace bought 10,000 shares of the stock in a transaction on Tuesday, February 25th. The shares were purchased at an average price of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the purchase, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

Skyworks Solutions Stock Performance

Shares of NASDAQ SWKS opened at $52.78 on Friday. The stock’s fifty day simple moving average is $70.01 and its 200 day simple moving average is $84.18. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 16.19, 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, Inc. has a 52-week low of $52.04 and a 52-week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. As a group, sell-side analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a $0.70 dividend. The ex-dividend date was Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a yield of 5.31%. Skyworks Solutions’s payout ratio is 85.89%.

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.