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

Truist Financial Corp decreased its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 23.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 506,185 shares of the semiconductor manufacturer’s stock after selling 154,221 shares during the period. Truist Financial Corp’s holdings in Skyworks Solutions were worth $56,905,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SWKS. Czech National Bank boosted 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 buying an additional 9,018 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Skyworks Solutions by 1.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 84,103 shares of the semiconductor manufacturer’s stock valued at $8,292,000 after buying an additional 969 shares in the last quarter. Cavalier Investments LLC boosted its holdings in shares of Skyworks Solutions by 3.7% in the 3rd quarter. Cavalier Investments LLC now owns 5,876 shares of the semiconductor manufacturer’s stock valued at $579,000 after buying an additional 210 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Skyworks Solutions by 40.3% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 22,300 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after buying an additional 6,400 shares in the last quarter. Finally, Garrison Asset Management LLC boosted its stake in Skyworks Solutions by 1.6% in the 3rd quarter. Garrison Asset Management LLC now owns 10,110 shares of the semiconductor manufacturer’s stock worth $997,000 after purchasing an additional 160 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. StockNews.com cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Piper Sandler reiterated a “neutral” rating and issued a $90.00 target price on shares of Skyworks Solutions in a research note on Thursday, January 4th. B. Riley lifted their target price on shares of Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Skyworks Solutions in a research note on Wednesday, January 31st. Finally, Susquehanna lifted their target price on shares of Skyworks Solutions from $120.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $115.10.

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS opened at $104.30 on Friday. The firm has a market cap of $16.71 billion, a PE ratio of 18.49, a PEG ratio of 1.93 and a beta of 1.37. The firm has a fifty day moving average of $104.07 and a 200 day moving average of $101.80. 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 one year low of $85.06 and a one year high of $115.69.

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

Skyworks Solutions Announces Dividend

The company also recently announced 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. This represents a $2.72 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Friday, February 16th. Skyworks Solutions’s dividend payout ratio (DPR) 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.