Trust Asset Management LLC Takes $208,000 Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Trust Asset Management LLC acquired a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,847 shares of the semiconductor manufacturer’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AXQ Capital LP purchased a new stake in shares of Skyworks Solutions in the third quarter valued at $789,000. Highland Capital Management LLC lifted its position in shares of Skyworks Solutions by 91.4% in the fourth quarter. Highland Capital Management LLC now owns 42,564 shares of the semiconductor manufacturer’s stock valued at $4,785,000 after acquiring an additional 20,330 shares in the last quarter. LSV Asset Management lifted its position in Skyworks Solutions by 24.2% during the third quarter. LSV Asset Management now owns 1,741,300 shares of the semiconductor manufacturer’s stock worth $171,675,000 after buying an additional 338,820 shares during the period. International Assets Investment Management LLC lifted its position in Skyworks Solutions by 10,450.2% during the fourth quarter. International Assets Investment Management LLC now owns 84,507 shares of the semiconductor manufacturer’s stock worth $9,500,000 after buying an additional 83,706 shares during the period. Finally, California Public Employees Retirement System lifted its position in Skyworks Solutions by 3.1% during the third quarter. California Public Employees Retirement System now owns 321,152 shares of the semiconductor manufacturer’s stock worth $31,662,000 after buying an additional 9,692 shares during the period. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Skyworks Solutions Stock Up 1.8 %

Shares of SWKS stock traded up $1.83 during trading hours on Thursday, reaching $102.95. The company had a trading volume of 2,473,258 shares, compared to its average volume of 2,298,805. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.51 and a current ratio of 5.02. Skyworks Solutions, Inc. has a twelve month low of $85.06 and a twelve month high of $115.69. The company has a market capitalization of $16.50 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 1.84 and a beta of 1.37. The stock’s fifty day simple moving average is $104.06 and its 200 day simple moving average is $101.74.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results 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 return on equity of 18.68% and a net margin of 19.48%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the firm earned $2.33 earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that Skyworks Solutions, Inc. will post 5.65 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.68 per share. The ex-dividend date was Friday, February 16th. This represents a $2.72 dividend on an annualized basis and a yield of 2.64%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 48.23%.

Wall Street Analysts Forecast Growth

SWKS has been the topic of several recent analyst reports. Susquehanna increased their target price on Skyworks Solutions from $120.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Piper Sandler reiterated a “neutral” rating and set a $90.00 target price on shares of Skyworks Solutions in a research report on Thursday, January 4th. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 target price on shares of Skyworks Solutions in a research report on Wednesday, January 31st. StockNews.com downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Finally, TD Cowen increased their target price on Skyworks Solutions from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $115.10.

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.