PNC Financial Services Group Inc. Cuts Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

PNC Financial Services Group Inc. lessened its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,475 shares of the semiconductor manufacturer’s stock after selling 2,665 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.06% of Skyworks Solutions worth $11,408,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SWKS. AdvisorNet Financial Inc increased its holdings in Skyworks Solutions by 790.0% in the fourth quarter. AdvisorNet Financial Inc now owns 356 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 316 shares during the last quarter. Vestor Capital LLC purchased a new position in Skyworks Solutions in the fourth quarter valued at $43,000. West Branch Capital LLC increased its holdings in Skyworks Solutions by 8,000.0% in the fourth quarter. West Branch Capital LLC now owns 405 shares of the semiconductor manufacturer’s stock valued at $46,000 after buying an additional 400 shares during the last quarter. Avior Wealth Management LLC increased its holdings in Skyworks Solutions by 47.9% in the fourth quarter. Avior Wealth Management LLC now owns 420 shares of the semiconductor manufacturer’s stock valued at $47,000 after buying an additional 136 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Skyworks Solutions by 48.3% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 427 shares of the semiconductor manufacturer’s stock valued at $48,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Insider Activity at Skyworks Solutions

In other news, CEO Liam Griffin acquired 11,142 shares of Skyworks Solutions stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the transaction, the chief executive officer now directly owns 104,153 shares in the company, valued at $9,373,770. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Liam Griffin bought 11,142 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $90.00 per share, with a total value of $1,002,780.00. Following the completion of the acquisition, the chief executive officer now owns 104,153 shares in the company, valued at approximately $9,373,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert A. Schriesheim sold 25,433 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the completion of the transaction, the director now directly owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Skyworks Solutions Price Performance

Shares of SWKS opened at $106.46 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.19. The company has a market capitalization of $17.08 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 4.98 and a beta of 1.24. Skyworks Solutions, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $115.69. The firm has a 50-day simple moving average of $96.37 and a 200-day simple moving average of $102.49.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. On average, equities research analysts anticipate that Skyworks Solutions, Inc. will post 5.22 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st were given a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $2.72 dividend on an annualized basis and a yield of 2.55%. Skyworks Solutions’s payout ratio is currently 51.13%.

Wall Street Analyst Weigh In

SWKS has been the topic of several recent analyst reports. StockNews.com lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Friday, March 29th. JPMorgan Chase & Co. dropped their price objective on Skyworks Solutions from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus dropped their price objective on Skyworks Solutions from $122.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. UBS Group dropped their price objective on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Rosenblatt Securities dropped their price objective on Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of “Hold” and an average price target of $106.25.

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.