Zurcher Kantonalbank Zurich Cantonalbank Acquires 36,781 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 74.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 86,259 shares of the semiconductor manufacturer’s stock after buying an additional 36,781 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Skyworks Solutions were worth $7,649,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SWKS. Principal Financial Group Inc. boosted its stake in Skyworks Solutions by 3.2% during the third quarter. Principal Financial Group Inc. now owns 200,873 shares of the semiconductor manufacturer’s stock valued at $19,840,000 after buying an additional 6,302 shares during the last quarter. Apollon Wealth Management LLC raised its position in Skyworks Solutions by 20.3% during the third quarter. Apollon Wealth Management LLC now owns 3,003 shares of the semiconductor manufacturer’s stock valued at $297,000 after purchasing an additional 506 shares during the period. GSA Capital Partners LLP purchased a new stake in Skyworks Solutions during the third quarter valued at approximately $380,000. Sumitomo Mitsui Trust Group Inc. raised its position in Skyworks Solutions by 2.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 440,559 shares of the semiconductor manufacturer’s stock valued at $43,514,000 after purchasing an additional 11,182 shares during the period. Finally, Simmons Bank raised its position in Skyworks Solutions by 34.8% during the third quarter. Simmons Bank now owns 4,833 shares of the semiconductor manufacturer’s stock valued at $477,000 after purchasing an additional 1,249 shares during the period. Institutional investors own 85.43% of the company’s stock.

Insider Buying and Selling

In other Skyworks Solutions news, CEO Philip G. Brace bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were purchased at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the purchase, the chief executive officer now directly owns 10,000 shares in the company, valued at $661,300. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by company insiders.

Skyworks Solutions Trading Down 1.0 %

Shares of NASDAQ:SWKS opened at $67.19 on Friday. Skyworks Solutions, Inc. has a 12-month low of $62.01 and a 12-month high of $120.86. The business’s fifty day simple moving average is $78.73 and its 200-day simple moving average is $88.49. The company has a market capitalization of $10.80 billion, a PE ratio of 20.61, a P/E/G ratio of 1.79 and a beta of 1.18. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last announced 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 net margin of 13.02% and a return on equity of 12.60%. As a group, equities research analysts predict that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, February 24th. This represents a $2.80 annualized dividend and a yield of 4.17%. Skyworks Solutions’s dividend payout ratio (DPR) is 85.89%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SWKS. Piper Sandler decreased their price objective on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Argus downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Morgan Stanley decreased their price objective 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. Rosenblatt Securities restated a “neutral” rating and set a $80.00 price objective (down from $120.00) on shares of Skyworks Solutions in a research report on Thursday, February 6th. Finally, Citigroup upped their price objective on Skyworks Solutions from $72.00 to $84.00 and gave the company a “sell” rating in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.78.

Skyworks Solutions Company 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.