Westpac Banking Corp Increases Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Westpac Banking Corp increased its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,190 shares of the semiconductor manufacturer’s stock after acquiring an additional 311 shares during the period. Westpac Banking Corp’s holdings in Skyworks Solutions were worth $372,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SWKS. Norges Bank acquired a new stake in Skyworks Solutions in the fourth quarter valued at $228,646,000. Pzena Investment Management LLC grew its stake in 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 acquiring an additional 1,536,289 shares during the last quarter. Barclays PLC increased its holdings in Skyworks Solutions by 96.4% during the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock valued at $191,023,000 after acquiring an additional 949,407 shares in the last quarter. Wellington Management Group LLP raised its position in Skyworks Solutions by 52.0% during the third quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock worth $223,994,000 after acquiring an additional 775,470 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Skyworks Solutions by 114.0% in the fourth quarter. KBC Group NV now owns 1,248,273 shares of the semiconductor manufacturer’s stock valued at $110,697,000 after purchasing an additional 664,874 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SWKS shares. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a research report on Thursday, February 6th. Barclays reduced their price objective on Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Argus cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Rosenblatt Securities reissued a “neutral” rating and issued a $80.00 target price (down previously from $120.00) on shares of Skyworks Solutions in a research note on Thursday, February 6th. Finally, Mizuho lowered shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $62.00 in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Skyworks Solutions currently has an average rating of “Hold” and an average target price of $83.78.

Insider Buying and Selling at Skyworks Solutions

In related news, CEO Philip G. Brace purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was acquired at an average price of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the purchase, the chief executive officer now owns 10,000 shares in the company, valued at approximately $661,300. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Skyworks Solutions Stock Performance

Shares of NASDAQ:SWKS opened at $52.78 on Friday. The company has a market cap of $8.48 billion, a P/E ratio of 16.19, a PEG ratio of 1.79 and a beta of 1.18. Skyworks Solutions, Inc. has a one year low of $52.04 and a one year high of $120.86. The business’s 50-day simple moving average is $70.01 and its 200 day simple moving average is $84.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.73 and a current ratio of 5.94.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. On average, sell-side analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a yield of 5.31%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 85.89%.

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.