Fifth Third Bancorp Has $1.68 Million Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Posted by Defense World Staff on Apr 8th, 2023

Skyworks Solutions logo Fifth Third Bancorp lessened its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) by 16.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 18,469 shares of the semiconductor manufacturer’s stock after selling 3,533 shares during the period. Fifth Third Bancorp’s holdings in Skyworks Solutions were worth $1,683,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Daymark Wealth Partners LLC acquired a new position in shares of Skyworks Solutions during the 4th quarter worth about $3,523,000. Artemis Investment Management LLP acquired a new position in Skyworks Solutions in the 4th quarter valued at approximately $29,349,000. North Point Portfolio Managers Corp OH raised its holdings in Skyworks Solutions by 0.9% in the 4th quarter. North Point Portfolio Managers Corp OH now owns 141,252 shares of the semiconductor manufacturer’s stock valued at $12,872,000 after acquiring an additional 1,329 shares in the last quarter. MUFG Securities EMEA plc raised its holdings in Skyworks Solutions by 23.1% in the 4th quarter. MUFG Securities EMEA plc now owns 6,457 shares of the semiconductor manufacturer’s stock valued at $588,000 after acquiring an additional 1,210 shares in the last quarter. Finally, Empirical Finance LLC raised its holdings in Skyworks Solutions by 8.7% in the 4th quarter. Empirical Finance LLC now owns 4,394 shares of the semiconductor manufacturer’s stock valued at $400,000 after acquiring an additional 351 shares in the last quarter. Institutional investors and hedge funds own 75.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SWKS shares. Craig Hallum upped their price target on Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, February 7th. Piper Sandler upped their price target on Skyworks Solutions from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, February 7th. Citigroup upped their price objective on Skyworks Solutions from $94.50 to $117.00 and gave the company a “neutral” rating in a research note on Wednesday, February 8th. Stifel Nicolaus started coverage on Skyworks Solutions in a research note on Wednesday. They issued a “buy” rating and a $150.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Skyworks Solutions from $95.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.58.

Insider Activity

In other news, SVP Reza Kasnavi sold 3,000 shares of the stock in a transaction on Friday, February 10th. The stock was sold at an average price of $120.03, for a total value of $360,090.00. Following the transaction, the senior vice president now owns 16,994 shares of the company’s stock, valued at approximately $2,039,789.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Reza Kasnavi sold 3,000 shares of the stock in a transaction on Friday, February 10th. The stock was sold at an average price of $120.03, for a total value of $360,090.00. Following the transaction, the senior vice president now owns 16,994 shares of the company’s stock, valued at approximately $2,039,789.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Karilee A. Durham sold 2,716 shares of the stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $110.00, for a total value of $298,760.00. Following the completion of the transaction, the senior vice president now directly owns 13,428 shares in the company, valued at approximately $1,477,080. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Skyworks Solutions Stock Down 1.0 %

NASDAQ:SWKS opened at $111.35 on Friday. The stock’s fifty day moving average price is $114.53 and its two-hundred day moving average price is $100.10. Skyworks Solutions, Inc. has a 52-week low of $76.16 and a 52-week high of $124.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.75 and a current ratio of 2.79. The company has a market cap of $17.72 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 0.91 and a beta of 1.28.

Skyworks Solutions (NASDAQ:SWKS – Get Rating) last posted its quarterly earnings data on Monday, February 6th. The semiconductor manufacturer reported $2.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.59. Skyworks Solutions had a return on equity of 28.65% and a net margin of 22.33%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $2.90 EPS. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, analysts anticipate that Skyworks Solutions, Inc. will post 8.21 EPS for the current year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 21st. Stockholders of record on Tuesday, February 28th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Monday, February 27th. Skyworks Solutions’s dividend payout ratio (DPR) is currently 33.83%.

Skyworks Solutions announced that its Board of Directors has approved a stock buyback program on Monday, February 6th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 11.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Skyworks Solutions Profile

(Get Rating)

Skyworks Solutions, Inc engages in the design, development, and manufacture of proprietary semiconductor products. Its products include amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, receivers, switches, and technical ceramics.