Principal Financial Group Inc. Reduces Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Principal Financial Group Inc. lowered its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 205,207 shares of the semiconductor manufacturer’s stock after selling 2,447 shares during the period. Principal Financial Group Inc. owned 0.13% of Skyworks Solutions worth $23,069,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Wealth Management Investment Advisory Inc. lifted its position in Skyworks Solutions by 98.1% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 313 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 155 shares in the last quarter. Milestone Investment Advisors LLC purchased a new stake in shares of Skyworks Solutions in the third quarter valued at about $34,000. AdvisorNet Financial Inc increased its position in Skyworks Solutions by 790.0% during the fourth quarter. AdvisorNet Financial Inc now owns 356 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 316 shares during the last quarter. Vestor Capital LLC purchased a new position in Skyworks Solutions during the fourth quarter worth about $43,000. Finally, West Branch Capital LLC boosted its holdings in Skyworks Solutions by 8,000.0% in the 4th quarter. West Branch Capital LLC now owns 405 shares of the semiconductor manufacturer’s stock valued at $46,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SWKS shares. TD Cowen downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and cut their price target for the stock from $125.00 to $90.00 in a report on Wednesday, May 1st. JPMorgan Chase & Co. decreased their price target on Skyworks Solutions from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. B. Riley boosted their price objective on shares of Skyworks Solutions from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. Wolfe Research lowered shares of Skyworks Solutions from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 9th. Finally, UBS Group reduced their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Skyworks Solutions currently has a consensus rating of “Hold” and a consensus price target of $106.25.

Skyworks Solutions Price Performance

SWKS stock opened at $94.05 on Tuesday. The business’s 50-day moving average is $100.89 and its two-hundred day moving average is $102.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.19 and a quick ratio of 3.81. The firm has a market capitalization of $15.09 billion, a P/E ratio of 17.68, a P/E/G ratio of 4.39 and a beta of 1.35. Skyworks Solutions, Inc. has a 1 year low of $85.06 and a 1 year high of $115.69.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. Analysts anticipate that Skyworks Solutions, Inc. will post 5.22 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.68 per share. The ex-dividend date is Monday, May 20th. This represents a $2.72 annualized dividend and a dividend yield of 2.89%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 51.13%.

Insider Buying and Selling

In other Skyworks Solutions news, CEO Liam Griffin purchased 11,142 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was 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 directly owns 104,153 shares of the company’s stock, valued at $9,373,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

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.