Groesbeck Investment Management Corp NJ Reduces Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Groesbeck Investment Management Corp NJ lowered its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 14.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,460 shares of the semiconductor manufacturer’s stock after selling 925 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Skyworks Solutions were worth $614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SWKS. Price T Rowe Associates Inc. MD boosted its position in Skyworks Solutions by 804.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,883,265 shares of the semiconductor manufacturer’s stock valued at $340,168,000 after buying an additional 2,564,631 shares during the last quarter. Norges Bank purchased a new stake in Skyworks Solutions in the fourth quarter valued at approximately $152,111,000. DnB Asset Management AS boosted its position in Skyworks Solutions by 60.9% in the third quarter. DnB Asset Management AS now owns 1,344,282 shares of the semiconductor manufacturer’s stock valued at $132,533,000 after buying an additional 508,807 shares during the last quarter. Pacer Advisors Inc. boosted its position in Skyworks Solutions by 40.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,601,879 shares of the semiconductor manufacturer’s stock valued at $180,083,000 after buying an additional 465,223 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Skyworks Solutions in the first quarter valued at approximately $53,654,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Price Performance

Shares of SWKS stock traded up $0.08 during trading hours on Thursday, hitting $98.55. 660,948 shares of the company’s stock were exchanged, compared to its average volume of 2,285,110. The firm has a 50 day moving average of $104.77 and a two-hundred day moving average of $101.70. Skyworks Solutions, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $115.69. The company has a quick ratio of 3.51, a current ratio of 5.02 and a debt-to-equity ratio of 0.16. The firm has a market cap of $15.79 billion, a P/E ratio of 17.48, a P/E/G ratio of 1.84 and a beta of 1.37.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, beating the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a return on equity of 18.68% and a net margin of 19.48%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company earned $2.33 EPS. The firm’s revenue was down 9.6% compared to the same quarter last year. Sell-side analysts forecast that Skyworks Solutions, Inc. will post 5.65 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Friday, February 16th. Skyworks Solutions’s dividend payout ratio is currently 48.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SWKS shares. StockNews.com lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price objective on shares of Skyworks Solutions in a research report on Wednesday, January 31st. TD Cowen upped their price objective on Skyworks Solutions from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Piper Sandler restated a “neutral” rating and issued a $90.00 price objective on shares of Skyworks Solutions in a research report on Thursday, January 4th. Finally, Susquehanna upped their price objective on Skyworks Solutions from $120.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $115.10.

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.