Meritage Portfolio Management Has $5.36 Million Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Meritage Portfolio Management reduced its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 0.7% in the fourth quarter, Holdings Channel reports. The firm owned 47,683 shares of the semiconductor manufacturer’s stock after selling 345 shares during the period. Meritage Portfolio Management’s holdings in Skyworks Solutions were worth $5,361,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. HB Wealth Management LLC grew its stake in Skyworks Solutions by 22.4% during the third quarter. HB Wealth Management LLC now owns 2,428 shares of the semiconductor manufacturer’s stock valued at $239,000 after acquiring an additional 445 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Skyworks Solutions by 57.1% during the third quarter. GHP Investment Advisors Inc. now owns 15,877 shares of the semiconductor manufacturer’s stock worth $1,502,000 after buying an additional 5,768 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Skyworks Solutions by 5.7% during the third quarter. Exchange Traded Concepts LLC now owns 57,291 shares of the semiconductor manufacturer’s stock worth $5,648,000 after buying an additional 3,109 shares during the period. Koshinski Asset Management Inc. raised its holdings in Skyworks Solutions by 5.7% in the third quarter. Koshinski Asset Management Inc. now owns 4,666 shares of the semiconductor manufacturer’s stock valued at $460,000 after acquiring an additional 251 shares in the last quarter. Finally, Czech National Bank increased its holdings in shares of Skyworks Solutions by 47.9% in the 3rd quarter. Czech National Bank now owns 27,858 shares of the semiconductor manufacturer’s stock valued at $2,747,000 after acquiring an additional 9,018 shares during the period. 85.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SWKS. TD Cowen increased their target price on Skyworks Solutions from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. B. Riley boosted their price objective on Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Piper Sandler restated a “neutral” rating and issued a $90.00 price target on shares of Skyworks Solutions in a report on Thursday, January 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Skyworks Solutions in a research report on Wednesday, January 31st. Finally, StockNews.com downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Friday, March 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $115.10.

Skyworks Solutions Price Performance

Shares of SWKS stock traded up $1.41 on Friday, reaching $104.36. The company’s stock had a trading volume of 685,664 shares, compared to its average volume of 2,278,612. The company has a quick ratio of 3.51, a current ratio of 5.02 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 12-month low of $85.06 and a 12-month high of $115.69. The stock’s 50 day simple moving average is $104.06 and its 200-day simple moving average is $101.74. The company has a market capitalization of $16.72 billion, a P/E ratio of 18.25, a PEG ratio of 1.87 and a beta of 1.37.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Skyworks Solutions had a net margin of 19.48% and a return on equity of 18.68%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 EPS. As a group, equities analysts predict that Skyworks Solutions, Inc. will post 5.65 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Friday, February 16th. Skyworks Solutions’s dividend payout ratio is presently 48.23%.

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.