Franklin Resources Inc. Has $17.65 Million Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Franklin Resources Inc. boosted its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 28.9% in the fourth quarter, Holdings Channel reports. The firm owned 198,978 shares of the semiconductor manufacturer’s stock after purchasing an additional 44,660 shares during the quarter. Franklin Resources Inc.’s holdings in Skyworks Solutions were worth $17,645,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SWKS. Golden State Wealth Management LLC acquired a new position in shares of Skyworks Solutions during the 4th quarter worth $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Skyworks Solutions in the 4th quarter valued at approximately $29,000. Picton Mahoney Asset Management bought a new stake in shares of Skyworks Solutions during the 4th quarter valued at approximately $33,000. Manchester Capital Management LLC increased its position in Skyworks Solutions by 325.2% during the 4th quarter. Manchester Capital Management LLC now owns 557 shares of the semiconductor manufacturer’s stock worth $49,000 after purchasing an additional 426 shares in the last quarter. Finally, VSM Wealth Advisory LLC bought a new position in Skyworks Solutions in the 4th quarter valued at approximately $56,000. Institutional investors own 85.43% of the company’s stock.

Insider Buying and Selling at Skyworks Solutions

In other news, CEO Philip G. Brace bought 10,000 shares of the stock in a transaction dated Tuesday, February 25th. The stock was bought at an average price of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $661,300. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Skyworks Solutions Stock Performance

Shares of SWKS opened at $53.38 on Tuesday. The company has a market cap of $8.37 billion, a PE ratio of 16.37, a P/E/G ratio of 1.79 and a beta of 1.21. Skyworks Solutions, Inc. has a one year low of $49.80 and a one year high of $120.86. The stock has a 50-day moving average of $69.28 and a 200-day moving average of $83.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities research analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend was Monday, February 24th. Skyworks Solutions’s payout ratio is currently 85.89%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Citigroup upped their price target on shares of Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a report on Friday, January 10th. The Goldman Sachs Group lowered their target price on Skyworks Solutions from $92.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus lowered Skyworks Solutions from a “buy” rating to a “hold” rating and cut their price target for the company from $105.00 to $62.00 in a research note on Thursday, February 6th. Piper Sandler lowered their price objective on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Finally, B. Riley lowered shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $110.00 to $65.00 in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $83.78.

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.