Prudential Financial Inc. Acquires 91,448 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Prudential Financial Inc. grew its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 62.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,092 shares of the semiconductor manufacturer’s stock after buying an additional 91,448 shares during the period. Prudential Financial Inc. owned 0.15% of Skyworks Solutions worth $21,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Erste Asset Management GmbH bought a new position in shares of Skyworks Solutions during the 3rd quarter valued at about $27,000. Golden State Wealth Management LLC bought a new position in Skyworks Solutions during the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new position in Skyworks Solutions during the 4th quarter valued at approximately $29,000. Picton Mahoney Asset Management bought a new stake in Skyworks Solutions in the 4th quarter worth approximately $33,000. Finally, Quest Partners LLC purchased a new stake in shares of Skyworks Solutions during the 3rd quarter worth approximately $41,000. Institutional investors own 85.43% of the company’s stock.

Insider Activity at Skyworks Solutions

In related news, CEO Philip G. Brace purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were acquired at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the acquisition, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $661,300. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Skyworks Solutions Stock Down 0.9 %

Shares of NASDAQ:SWKS opened at $67.60 on Thursday. The business’s 50 day moving average is $74.30 and its 200 day moving average is $85.94. The stock has a market cap of $10.87 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18. Skyworks Solutions, Inc. has a 52-week low of $62.01 and a 52-week high of $120.86. 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 (NASDAQ:SWKS) last posted 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 return on equity of 12.60% and a net margin of 13.02%. Sell-side analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.80 annualized dividend and a dividend yield of 4.14%. Skyworks Solutions’s dividend payout ratio is currently 85.89%.

Wall Street Analysts Forecast Growth

SWKS has been the topic of several research reports. Stifel Nicolaus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and reduced their price target for the stock from $105.00 to $62.00 in a research report on Thursday, February 6th. Argus downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Mizuho lowered Skyworks Solutions from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $105.00 to $62.00 in a research report 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, Morgan Stanley cut their target price on 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. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average 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.