Norges Bank Invests $228.65 Million in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Norges Bank purchased a new stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in the 4th quarter, Holdings Channel reports. The fund purchased 2,578,323 shares of the semiconductor manufacturer’s stock, valued at approximately $228,646,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SWKS. Vanguard Group Inc. raised its position in Skyworks Solutions by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 20,341,842 shares of the semiconductor manufacturer’s stock valued at $1,803,915,000 after purchasing an additional 562,783 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of Skyworks Solutions by 37.5% in the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Skyworks Solutions by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,098,497 shares of the semiconductor manufacturer’s stock worth $452,135,000 after acquiring an additional 267,343 shares during the period. Geode Capital Management LLC grew its holdings in Skyworks Solutions by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,143,639 shares of the semiconductor manufacturer’s stock worth $408,410,000 after acquiring an additional 28,009 shares in the last quarter. Finally, FMR LLC increased its position in Skyworks Solutions by 7.3% during the 3rd quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer’s stock valued at $265,853,000 after purchasing an additional 182,130 shares during the period. Institutional investors own 85.43% of the company’s stock.

Insider Activity at Skyworks Solutions

In related news, CEO Philip G. Brace purchased 10,000 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were bought at an average cost of $66.13 per share, with a total value of $661,300.00. Following the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $661,300. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

Skyworks Solutions Stock Down 3.3 %

Skyworks Solutions stock opened at $64.12 on Monday. The business’s 50-day simple moving average is $73.20 and its two-hundred day simple moving average is $85.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.73 and a current ratio of 5.94. The company has a market cap of $10.31 billion, a PE ratio of 19.67, a PEG ratio of 1.79 and a beta of 1.18. Skyworks Solutions, Inc. has a fifty-two week low of $62.01 and a fifty-two week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results 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 net margin of 13.02% and a return on equity of 12.60%. Equities analysts anticipate that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a dividend of $0.70 per share. The ex-dividend date was Monday, February 24th. This represents a $2.80 annualized dividend and a dividend yield of 4.37%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 85.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and lowered their price target for the stock from $105.00 to $62.00 in a research report on Thursday, February 6th. Barclays dropped their target price 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. Mizuho lowered Skyworks Solutions from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $105.00 to $62.00 in a research report on Thursday, February 6th. Argus cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Citigroup lifted their target price on Skyworks Solutions from $72.00 to $84.00 and gave the company a “sell” rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.78.

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.