Principal Financial Group Inc. Has $24.62 Million Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Posted by Defense World Staff on Aug 23rd, 2023

Skyworks Solutions logo Principal Financial Group Inc. raised its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 208,651 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,964 shares during the period. Principal Financial Group Inc.’s holdings in Skyworks Solutions were worth $24,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SWKS. SouthState Corp acquired a new position in Skyworks Solutions in the first quarter valued at about $26,000. True Wealth Design LLC acquired a new position in shares of Skyworks Solutions during the fourth quarter worth about $26,000. Sound Income Strategies LLC boosted its position in shares of Skyworks Solutions by 341.2% during the first quarter. Sound Income Strategies LLC now owns 225 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 174 shares during the period. Fortis Capital Advisors LLC acquired a new position in shares of Skyworks Solutions during the fourth quarter worth about $27,000. Finally, J.Safra Asset Management Corp boosted its position in shares of Skyworks Solutions by 1,100.0% during the fourth quarter. J.Safra Asset Management Corp now owns 420 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 385 shares during the period. 78.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SWKS has been the subject of several recent research reports. Barclays cut Skyworks Solutions from an “overweight” rating to an “equal weight” rating and set a $115.00 price objective for the company. in a research report on Thursday, July 20th. Susquehanna upped their price objective on Skyworks Solutions from $125.00 to $130.00 and gave the stock a “positive” rating in a research report on Tuesday, August 8th. StockNews.com raised Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $150.00 price objective on shares of Skyworks Solutions in a research report on Tuesday, August 8th. Finally, Argus reduced their price objective on Skyworks Solutions from $160.00 to $140.00 in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.27.

Read Our Latest Report on Skyworks Solutions

Insider Transactions at Skyworks Solutions

In other news, Director Kevin L. Beebe sold 4,851 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.97, for a total transaction of $504,358.47. Following the transaction, the director now owns 51,855 shares in the company, valued at $5,391,364.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Liam Griffin sold 13,211 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $104.08, for a total transaction of $1,375,000.88. Following the sale, the chief executive officer now owns 52,540 shares of the company’s stock, valued at $5,468,363.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin L. Beebe sold 4,851 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.97, for a total value of $504,358.47. Following the sale, the director now directly owns 51,855 shares in the company, valued at approximately $5,391,364.35. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Skyworks Solutions Price Performance

NASDAQ:SWKS opened at $105.27 on Wednesday. The firm has a market capitalization of $16.78 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 0.96 and a beta of 1.27. The company has a quick ratio of 2.31, a current ratio of 3.83 and a debt-to-equity ratio of 0.23. Skyworks Solutions, Inc. has a 12-month low of $76.16 and a 12-month high of $123.69. The stock’s 50 day moving average price is $109.56 and its two-hundred day moving average price is $109.51.

Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last announced its earnings results on Monday, August 7th. The semiconductor manufacturer reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.30. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Skyworks Solutions had a return on equity of 23.89% and a net margin of 20.97%. The firm’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.12 earnings per share. On average, analysts anticipate that Skyworks Solutions, Inc. will post 7.44 earnings per share for the current year.

Skyworks Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 29th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.58%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.62. Skyworks Solutions’s dividend payout ratio (DPR) is 38.21%.

Skyworks Solutions Profile

(Free Report)

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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.