Millstone Evans Group LLC Purchases New Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Millstone Evans Group LLC acquired a new position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,170 shares of the semiconductor manufacturer’s stock, valued at approximately $104,000.

Several other institutional investors have also modified their holdings of SWKS. Pzena Investment Management LLC grew its position in shares of Skyworks Solutions by 37.5% in the 4th quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer’s stock valued at $499,273,000 after buying an additional 1,536,289 shares during the last quarter. Barclays PLC grew its position in shares of Skyworks Solutions by 96.4% in the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock valued at $191,023,000 after buying an additional 949,407 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Skyworks Solutions by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock valued at $223,994,000 after buying an additional 775,470 shares during the last quarter. KBC Group NV grew its position in shares of Skyworks Solutions by 114.0% in the 4th quarter. KBC Group NV now owns 1,248,273 shares of the semiconductor manufacturer’s stock valued at $110,697,000 after buying an additional 664,874 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Skyworks Solutions by 40.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,715,181 shares of the semiconductor manufacturer’s stock valued at $152,102,000 after buying an additional 495,774 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Stock Down 1.7 %

Shares of NASDAQ SWKS opened at $67.25 on Friday. The company has a quick ratio of 4.73, a current ratio of 5.94 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 52 week low of $62.01 and a 52 week high of $120.86. The firm has a 50-day moving average price of $75.68 and a 200 day moving average price of $86.62. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. Equities research analysts anticipate that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Monday, February 24th. Skyworks Solutions’s payout ratio is currently 85.89%.

Wall Street Analyst Weigh In

SWKS has been the topic of a number of recent analyst reports. Piper Sandler dropped their target price on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley lowered their price objective on shares of 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. Bank of America lowered their price objective on shares of Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research report on Thursday, February 6th. Finally, Benchmark reissued a “hold” rating on shares of Skyworks Solutions in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.78.

Insiders Place Their Bets

In other Skyworks Solutions news, CEO Philip G. Brace bought 10,000 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was bought at an average price of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the transaction, the chief executive officer now owns 10,000 shares in the company, valued at approximately $661,300. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

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.