Truist Financial Corp Lowers Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Truist Financial Corp decreased its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 506,185 shares of the semiconductor manufacturer’s stock after selling 154,221 shares during the period. Truist Financial Corp owned approximately 0.32% of Skyworks Solutions worth $56,905,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SWKS. Global Wealth Management Investment Advisory Inc. raised 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 valued at $31,000 after purchasing an additional 155 shares in the last quarter. Milestone Investment Advisors LLC purchased a new position in shares of Skyworks Solutions in the third quarter worth about $34,000. AdvisorNet Financial Inc increased its holdings in shares of Skyworks Solutions by 790.0% in the fourth quarter. AdvisorNet Financial Inc now owns 356 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 316 shares during the period. West Branch Capital LLC increased its holdings in shares of Skyworks Solutions by 8,000.0% in the fourth quarter. West Branch Capital LLC now owns 405 shares of the semiconductor manufacturer’s stock worth $46,000 after buying an additional 400 shares during the period. Finally, Avior Wealth Management LLC increased its holdings in shares of Skyworks Solutions by 47.9% in the fourth quarter. Avior Wealth Management LLC now owns 420 shares of the semiconductor manufacturer’s stock worth $47,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Trading Up 1.3 %

Shares of SWKS stock opened at $104.30 on Friday. Skyworks Solutions, Inc. has a 1 year low of $85.06 and a 1 year high of $115.69. The firm has a fifty day moving average price of $104.07 and a 200-day moving average price of $101.80. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.02 and a quick ratio of 3.51. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.93 and a beta of 1.37.

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

Skyworks Solutions Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. B. Riley lifted their price objective on Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 price objective on shares of Skyworks Solutions in a research report on Wednesday, January 31st. StockNews.com cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Piper Sandler reaffirmed a “neutral” rating and set a $90.00 price objective on shares of Skyworks Solutions in a research report on Thursday, January 4th. Finally, KeyCorp lowered shares of Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.